Member Info for investor33

RIchar reported - that's the second time.

Proquo ; crystal clear except for MB making a big emphasis on the Petrovis soft loan facility, and talk of the company being fully funded until well into next year.

And WOS was the most vocal about their being no prospect of another raise....

WOS : I am focused on the investment - that's why I have around 1.5m shares having been shafted by the raise, and having been forced to average down as a result. I am now way overweight on this share and am waiting for the oft promised rerate..

My concern right now is how PM intend to finance wells 3 and 4, plus getting confirmation that H2 is actually commercial - the chances are that it is, but this share has always tended to kick investors in the teeth unexpectedly. The Johnny come latelys who are often very vocal on here have not been wearied by the years of delays and setbacks.

And two more things - in a previous RNS it mentioned how the reservoirs in this area can be unpredictable, so I don't believe it's likely that every further Heron drilling will hit the mark straight away. And each drilling costs 1.5m.

And it's all very well quoting how many barrels can be extracted from Heron in total ( Hamm) but it would require 10 wells operating for approx 30 years. I will check the maths again. Right now PM has a licence for 5 years, with the provincial tripartite agreement still not having been signed by either the previous or the new governor.

Wos - as you claim to be so good on research, read what one or two of them said again. They never claimed to have sold any shares - they are LTH bag holders.

And you would have more credibility if you dropped the vulgar snipes at people.

People mocking any LTHs for being ' heavily underwater ' right now may pause to consider that PM would probably not exist by now had it not been for the LTHs....so no opportunity for them to try and take financial advantage of as the PM investment Johnny come latelys...

And given that there have been some " negative " sounding posts on here by one or two LTHs who seemingly first invested up to 10 years ago and have been stuffed by the various hold ups and raises, it would be kinder not to label them as ' vermin ' by someone who seemingly first arrived on the PM scene towards the end of last month.

If WOS had done 6000 posts extolling the potential in the share price of Rolls Royce two years ago then I wouldn't really mind him so much. Urging people to buy RR at 70p in Oct 2022 would have proved that he is a very smart investor - not urging people to buy PM without ( at the time ) any access permission to the land and with a share price at around 3.5p....

Bluechipz ; you're in a very similar position to me then by the sounds of it. And don't let Hamm hear you talk about ' spikes ' as he has probably never looked at a PM chart in his life, so seems unaware that they are a factor.

I too could have made quite a lot had I recognised this kind of price action as pump and dumps, and sold near the top of the numerous spikes.

And when you think about it we had 6.5p and then 7p spikes last year without the company even having any legal access to the land, and with seemingly little prospect of that happening in the near future given the intransigent stance of the previous governor. And these spikes happened just a few weeks after the second to last 2p raise had happened ...so there can be a massive disconnect at times between the share price and the fundamentals when pump and dumps are going on.

I think it's about time to filter Hamm.

At least this way if there is another pump and dump spike I wont notice him on here bouncing around whilst in his signature manic sugar fix screaming ' buy, buy, buy guys - we wont see prices like this again ' right at the top of the spike before it massively pulls back....

Hamm ; I can think of somewhere appropriate as to where a spike could be shoved with a high degree of force....

Proquo ; some might believe that they can bring the share price down with comments on here, however beliefs and reality can be two different things....

Doc ; I think that the current share price is actually about right for H1 producing about 300 bopd which is the flow rate which they are talking about initially - not 500 bopd.

H2 online would obviously change that - though I also wouldn't rule out a pump and dump spike on the news that H1 is flowing, or maybe when H1 and H2 are both flowing. This share price has a long history of pump and dump spikes, though if it spiked suddenly to say 6p and then pulled back to say around 4p I wouldn't mind, as I would try to take a chunk of my currently overweight holding on a spike.

Proquo ; this board does not influence the share price ! You even said yourself in a recent post that the MMs set the price at a level where it will generate maximum trader activity ie in a definite trading range. And guess what - that's exactly what is happening right now. And some of those trades are MM principal trades - buying on the bid and selling on the ask.

Hamm ; Given that you made probably the daftest ever proclamation on here ; " guys, there is no risk " weeks before the district committee had even voted on whether to grant the land access, you have quite a nerve to say what you said. The company would very likely have gone bust by now without a permission that had been held up for years. Even now the tripartite agreement has still not been signed by either governor. PM has a 5 year licence right now.

And maybe if you went on some paid courses you might learn what working capital is, and how to distinguish between a Dollar sign and a Sterling sign....And you might also realise that the CEOs of companies are generally paid quite a lot of money....

WOS ; Considering I have never paid a penny for any ' trading courses ' your insistence that I do so tells me everything I need to know about your grasp on reality.....If you had spent less time inserting childish "BOOMS " and emoji rockets in your posts, and instead spent more time thinking clearly, then maybe you wouldn't have claimed that the company was fully financed just before the last raise, or speculated that the share price would be 15p once the LP was granted...Lol.

Gusto1 ; No worries. I am cautiously optimistic, but a lot depends right now on the results of H2.

At times a share price can become disconnected from the fundamentals - usually during a pump and dump spike. So if we were to get a bit of a spike if and when H1 and H2 both go into production, as a precaution I will take a chunk of my holding out. I am over heavy on this share anyway, having averaged down following the raise.

There's a lot we don't know right now ; the results of H2, how much the monthly working capital is, what has been agreed with PC, where the price of oil is going, how much the Petrovis soft loan facility is for, and if and when it will ever be used etc etc. Whatever anybody might say on this board, the fact is that nobody can be entirely sure right now about how the work for next year to have 4 wells online will be financed.

Luqs786 : " Matad had enough money until MAY 2025 and to get Heron 1 into production before the raise, so let's say to get Heron1 into production is $4m plus they had working capital money till MAY 2025 (I don't know figures for working capital)."

Thanks for that. As you say, we don't know what the working capital is currently. The likes of Hamm don't even seem to know what working capital is, and seem to be under the impression that PM's employees work for free. He was amazed at how much MB earns - it's strange that he had no idea, given that he's been contributing to paying those wages...

Personally speaking I wish that PM had not paid out the $1.5m for Gobi, but had retained this money so as to extend the working capital period beyond next May. That way any profit from H1 and hopefully H2 would not have any working capital deductions throughout most of 2025. I would have thought that the wage bill currently is north of $100k a month.

It hardly ever gets mentioned for some reason, but I would like to know how much the Petrovis soft loan facility which has been offered is supposed to amount to. If there was a Q & A session with MB tomorrow it's the first question I would ask. Surely with income coming in it's high time that the company used this facility to help get H2 and H3 underway in May next year ? Don't forget that some of us were misled by much talk about this facility prior to the last raise....

And don't forget too that PM's Jerry in the presentation mentioned that the success of a given drilling is not guaranteed. So in order to develop up to 4 wells, it's quite possible that a $1.5 or two might be wasted. So a contingency fund needs to be in place for this possibility.

$300k a year.

Hamm ; again you are ignoring the costs involved in simply running the company - including the wage bill - from your calculation. For example MB earns $25k a month, so who knows what the total monthly wage bill is.

"Anybody knows how much of the raised money went to renewable? "

Don't know, but we know that £1.5m went to Gobi. That would have been a Heron drilling.

And as regards the link I gave about the Saudi's position - they are threatening to scale back their production cuts, due to their annoyance with over producers such as Russia and Iraq. Hence a Saudi minister threatening to crash the price of oil to his stated figure of $50 in order to take back market share. It's only when they cut production that it helps elevate the oil price.