Member Info for Flashy500

Me neither Sauerkraut. I put a £500 buy in about 08.30 this morning - still pending 2 hours later. Decided to cancel it due to frustration. Prob put it into BP instead.

Don't you think the Russkies and Saudis will start talking in a few weeks? Or maybe the Saudis see it as payback time against iran with this - this is going to hurt Tehran a lot more than the Iran-backed attack on Saudi refineries last year - could even provoke a revolution. I am beginning to curse that Chinese fellow who quipped: "We live in interesting times!" These times are a bit too interesting!

Thanks Shaa, Brom. No I don't either. Might have to have a look at this going forward. Cheers.

Interesting - how do know which which MMs are active in 88E? Thanks.

In my eyes it's not fear about the virus itself, it's fear about the fear of the virus: people worry about supply disruptions, access to healthcare (and with 12% of people who get it needing intensive care, the NHS would very quickly be overwhelmed). Chance are that if you are under 50 you will be alright, over 70 or 80 then mortality rates look around 15%. (On newsnight last night a guest was talking about UK govt plans, and said places were being identified for mass graves - he said that is all part of the normal planning and happened in 2009 as well, but it was a sobering comment). And with govt planning all over the world pretty woeful, and with severe weak links (Iran and likely parts of Africa) then it might be with us for a while - just as one area gets it under control, it gets exported from another. On a personal level, wash your hands for 30-40 secs several times a day, and avoid touching your face. That alone will slow the spread considerably. But there are opportunities too: shorting airlines and cruise companies, buying in medical providers, etc. Crisis is always opportunity.

The black stuff is certainly more useful than its shiny cousin, true. But we could be in a short term oversupply of the black stuff if the virus starts to get out of China or even drives that economy into recession. That oversupply means cheaper oil, and has a knock on affect for explorers and producers. However, knowing my luck the permit will be released tomorrow alongside a petro china offering of a quid to buy Matd! Cheers.

I don't think the permit will make it fly to be honest - we might see a 15% uplift on it but if there's then 2-3 months of waiting I think it will drift down. As you say however, GLA.

I've decided to sell up today after more than a year of this. I think Petro will come good from where we are today but there will be ample opportunity to get back in for that - which is when it starts to become a producer in my mind. No permit news is getting a little alarming now - but I'm out mainly due to the larger trends - oil price is down due to the virus and I dont' see that changing in the next month or two. Whereas gold is up. So I've moved over to Greatland Gold today, was planning on it last week and missed a good rise but I think there's more going on there than here at the mo. Good luck everyone anyhow.

I was thinking by end of Jan or mid-Feb at latest due to his comments about trying to get it before end of 2019. I think there will be serious nerves if it's not done by the end of Feb though.....can't survive a second permit debacle.

Thanks. But I'm up to my limit at the mo so don't want to risk any more just yet. In 88E as well.

Thanks - let's hope we don't a get a disastrous RNS tomorrow then: "In light of yesterday's protest...!"

Can you please provide the link to that? Thanks.

Hi Ojay: I'm still in MATD - haven't sold any - been in since Feb last year - sold out at about 8p then back in about 7p later on and held to where we are (damnation!). Still think this can do very well when we start getting oil out of the ground though - realistically I think that's what the market is now waiting for. I don't think permit grant in late Jan through to Feb will give a sustained increased but it will remove some small elements of doubt which is in our favour. But 88E which I was watching last year (had planned this time in 2019 to get out of Matd by Oct 19 with an eye toward looking at 88E but I've got myself bogged down a bit in Matd and have to wait), could have a big one on their hands come Feb through to April. I'm not offering advice, but these are the only 2 shares I hold at the mo. Good luck everyone anyhow.

You are right I think - with the likes of 88e kicking off in Feb through to March for flow rate appraisal on what could be 2020 biggest well then Petro is going to look quiet until summer. I am a holder still but decided to move some of my spare money into 88 recently rather than to top up as I think there are better opportunities out there before the summer - so that's my position.

Good point MIF. And it only means that the Mongolian govt has every incentive to get a domestic oil producer up and running as they currently import all their oil - even that which is drilled in their country goes over the border to be refined and is then sold back I believe. And don't forget they've just started building their first oil refinery to be complete by 2022 or so. Hopefully it's big enough for raptor and fox!

Thanks very much - I'll have a look at that shortly.

Hi Bigbench - have you got a link for that? Thanks.

Good call to hear - a bit of a longer term one than I originally planned but it could be a very big multibagger over the next 2-3 years from here.

Weren't you the questioner? Surprised no more but there was a lot to process on it. Can see this becoming a big producer in the next few years.

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