Member Info for DazzerG

Unfortunately my frustration with PM continues.

When I read the RNS this early this morning, it was so obvious the share price would drop.

There was also some contradictions in the report, having read it 3-4 times.

Additionally, this statement stood out to me:

“Preparations are being finalised for completion of the Heron 1 well and the contractor has indicated that it should be ready to mobilise in July.”

It is pointless putting words such as “should” in a report - as it means nothing.

For example, I “should “ win the EuroMillions lottery this weekend - does not mean it will happen (although I can dream).

I think MB and his team need future help when it comes to year end reporting and RNS releases.

….. but, further to my message last week - we are sadly edging closer back to the 2’s again…!!!

It beggars belief.

A positive RNS, where the share price should now be climbing ever higher - but typically as we are in Petro Matad world, it appears that good news is only temporary..!

Until Mike Buck and his team start providing proper and informed communications - this is going nowhere.

Being involved with Petro Matad is like a very bad game of snakes and ladders.

The LTH’s seem to be continually stuck on the snakes (wishing MB could roll the dice and get a more favourable number) - yet the MM’s seem to somehow land on the ladders all the time.

Feels like we are going down the snakes back to square 1.

We just need need MB to update the LTH’s (and other PI’s) with a positive and true RNS - and then we might be able to get some joy on the ladders and start climbing up to the winning square 100..!

….. with Petro Matad - it always feels like 1 step forward, then 5 steps back..!!

Looking at the comments this morning - a vast majority have quite rightly picked up on the fact that there are more buys than sells - but as per the typical Petro Matad rollercoaster ride - with already pre-provided RNS positive news - the share price continues to fall.

Hence my opening subject - does this feel somewhat dodgy to my fellow shareholders of PM..?

Well, here we go again.

Annoyed, frustrated, etc - so called the rise of the share price - now back down to the 3’s.

Unfortunately my prediction yesterday of falling to the 3’s - has happened.

This does not bode well.

It could mean more delays (again).

MB needs to send an update communication to the PI’s to steady the nerves.

I hope this is not the case, and I know we are waiting for all the hardware to get to site to set up - but - I have a bad feeling that with all the latest excitement about Petro Matad slowing down - that we are now going to start seeing the share price start to drop down again - to the sub 3’s or indeed less.

I truly hope that is not the case, but typically with more silence from MB et al - this does not currently overfill me confidence at the moment.

As above, I really hope that is not the case, especially being a LTH.

It’s very interesting to read the posts here on a daily basis - and note more and more are turning against the Mike Buck leadership.

Even LTH’s who used to strongly stand by Mr Buck, no matter what “bs” we were being fed - are now beginning to see the light and can see he is obviously not the right person to be leading Petro Matad.

If he was the right person, Petro Matad would have been drilling by now.

For some of you who still love Mr Buck, and then state, stupidly, if you don’t like it then sell.

The reason most of us LTH’s are not selling is because we are long term holders and some (if not all) would potentially take a financial hit.

If we were provided with truthful communication from Mike Buck and Petro Matad, we could all then make grown up considered decisions about the stock that we hold within Petro Matad.

The AGM was fluffy at best. Mr Buck said he was frustrated.

That is how I have felt for the last 5-6 years with Petro Matad…!!

Whilst Mr Buck continues to be the CEO of Petro Matad - I personally don’t believe this company (or our shares) are going anywhere.

As many have documented before - all we are simply doing is providing Mr Buck and his fellow colleagues with a very nice cosy lifestyle. All funded by us shareholders.!

Rant filled with frustration over.

….. and another wasted year…!

Personally multiple years invested in Petro Matad - and still nothing.

Waste of time..!

If there is no positive news in the AGM tomorrow - such as confirmation of license signed, or drilling in the coming weeks - that will be all the evidence I need to prove that MB has to stand down, or to be removed from the board.

As a multi year long term holder of PM shares - enough is enough.

I have said this numerous times.

Mike Buck is out of his depth, is not of CEO quality and has no known strategy - or tactical skills to move Petro Matad forward.

This continues to prove that MB has continued to mis-sell and mis-inform all the way through.

This RNS is even worse than most of us were expecting.

Absolute joke..!

@roxy

Totally agree he is not CEO material.

I’m sad to see that more and more investors can now see that Mike Buck is not fit for purpose..!

Plus, even the most positive of investors (and I include the strong rampers in this statement) are now saying the same.

To be open, he has not been CEO material for at least 3 years..!

It needs a CEO change before it’s too late - as posted before, I think it might already be too late.

Hi Doc

You know my thoughts… Mr Buck is without doubt a shocking CEO.

Lack of strategy

Lack of comms with shareholders

Lack of direction

He has to go now before it’s too late. Sadly, I think it maybe too late already…

The header says it all….

No doubt I will get the standard torrent of abuse from the usual rampers - but luckily I have big boy pants, so don’t care.

This car crash of so called CEO leadership cannot continue.

1 - lack of communication

2 - when there is rare communication, it is either lacking in content, or the detail is blatantly exaggerated.

3 - the total disregard for shareholders - whether that is small, medium or large investors - is truly shocking.

The more I read on this chat board, and yes we know Petro Matad read these comments, it is very obvious there is a growing discontent with the CEO.

It’s time for an urgent change - before it’s too late.

Dear Mr Cybertron

If only what you say was so…

However, I get the impression you have only recently arrived at the PM party.

Many more of us have been here far longer - on the back of multiple false updates (and indeed promises).

So where you say wait a few months, for me it is over 5 years… and still waiting..!! Others on here even longer.

Where you say sell up - I think that is a very immature and childish statement - especially where the current share price is below the average (in my case).

The best analogy I can give you.. It’s a bit like living in a house bought 5 years ago, that you want to sell - but that house is now in negative equity - so to sell would mean a big loss.

Any sensible person would try to not sell their investment at a loss..! Or try not to unless they have or need to…

Hi Doc83

As ever, I fully concur with your comments, thoughts and feedback.

Our Petro Matad leader, Mr Buck - seems to still be taking us down the proverbial never ending garden path.

His strategic leadership and direction is quite frankly shocking.

His communications (and timeliness of comms), is not the way a professional organisation should operate.

Maybe that’s the problem - PM under Mr Buck are simply not a professionally led company..!

So many false updates etc over the years.

Even now, nigh on another 2 months since the last weak update from the RNS - and still no updates.

Obviously PM don’t seem too interested in it’s investors and therefore stakeholders..!!

Cybertron is right about calming down…

…..as we have all seen - the patterns show that the share does have significant rises, usually on Friday.

Following Monday/Tuesday - it then sadly crashes back down.

“MB has said the weather isn’t an issue. “

Unfortunately with MB’s track record to date - we can’t trust too much about what comes out from MB’s mouth….!

Hopefully MB reads these message boards and is starting to get a feel of the anger and frustration from the majority of sensible LTH’s.

As several have mentioned, oil prices are currently up, but Petro Matad continues to plummet.

What assurances does our hallowed CEO provide to us - nothing, zilch, diddly squat.!!!!!!

Will I get shot down by the happy clappy crowd for this post - probably.

Do I care if I do get shot down - then no - since I filtered the rose tinted happy clappy crowd a long time back.

I know that from reading these posts there are many who agree. There are now also posters who previously and religiously trusted MB - but they are also now seeing the light as well.

Of course we all want to see Petro Matad being successful, but I’m now concerned we might be backing a lame horse in the Grand National… ! (Excuse the analogy).