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Also, it seems that PC are paying regularly now, rather than the delayed payments, albeit with the 30% still withheld for now. The last RNS I think mentioned that once PC had sorted a software issue they would be paying regularly on time.

Frontera ; the fact that most of the shares are in very sticky hands is the reason why the MMs have to do drastic things with the share price after an RNS like this one. They don't tend to hold many microcap type shares in their inventories, due to the higher risk, so they can easily face liquidity issues with filling any sells which are being placed.

The likes of BP and other trolls will have no idea about this kind of thing. They are hypnotised zombies.

Standard MM liquidity tactics on an RNS. Hit stops and shake out to create some liquidity.

I remember that time back in 2023 when it had finished the previous day at around 3p. A hot air insignificant RNS came out at 7am, and the MMs spiked it down to 1.8p on the open and then up to 6.5p on the same day.

Exactly Proquo.

Strange that it started flowing and then suddenly slowed down. If it's a perforation blockage I wonder how they clear it ?

We're getting 350 bopd from two wells - not 27...

If the trolls were talking about Soco and block 19 back in 2004 they would be saying that the operations were a failure, and nobody would want to buy block 19..😂😂

350 bopd is what Soco were achieving from 27 wells in block 19 when they sold it in 2005 to PC for around 150m USD when adjusted for inflation.

The farm out side is far too big to simply tack it on near the end of this latest operational update.

About Sinopec from Wiki ;

"Sinopec has demonstrated a willingness, characteristic Chinese national oil companies, to invest in foreign, often risky, infrastructure. These firms work in concert with the Chinese state owned financial sector via direct low cost financing and indirect infrastructure agreements between foreign nations and Chinese banks.  Several experts claim that the role of direct financing support is not as important as indirect support. Large foreign purchases are particularly notable in the Chinese context because they require approval by the National Development and Reform Commission and the State Council.

Sinopec made failed attempts to acquire Iranian oil reserves in 2001 and Kazakh reserves in 2003. In subsequent years, Sinopec relied more heavily on off-taker agreements to gain access to foreign markets. The 2008 financial crisis made a large impact on Chinese foreign policy and Chinese oil companies put a higher priority on mergers and acquisitions in the following years.

According to the OECD, foreign oil ventures are an attractive investment for Chinese national oil companies because China is a large importer of oil and wants to control its supply chain. Some Chinese observes agree with this assessment and highlight Sinopec's 2005 goal of importing 15 million tons of crude oil for refinement in China. China's Go Out policy explicitly stated, in 2001, that Sinopec should "make effective use of overseas resources, build the overseas oil and gas supply bases and diversify the oil imports". This was revised in 2006 to "broaden international oil and gas cooperation". According to the company, in 2022, foreign operations were staffed 74% by local workers rather than Chinese employees."

" bribing him "

Stupid predictive text !

Droverman ; you need to remember that up until late May of last year the company had no legal access consent to Heron. That provincial governor had been refusing to sign the special purpose tripartite agreement - I suspect because someone was bringing him.

Therefore all the company could do in the meantime was wildcats - otherwise investors would have accused MB of sitting around doing nothing on his big wages paid for by the shareholders.

Proquo ; no idea if that guy is genuine or not, however bear in mind that not everybody is in a position to average down. What people will have committed already may make this impossible, and when experiencing a large paper loss it's not easy to do anyway.

Master and Hamm sound to me to be in this boat - large positions already before the last raise, with either nothing left to throw at it, or simply not willing to potentially have an even bigger paper loss.

I think those who arrived more recently will have found it easier to have averaged down. I averaged down a lot on the 2p raise - I don't think many would have dreamt of it going down to as low as 0.68p ( was it ? ) just over a year after that raise.

Limitedfunds : sentiment always plays a role in a company's share price action. It's one of the fundamental premises of momentum investing/trading, depending on what you want to call to call it. Once a share price starts trending upwards then people tend to jump on board through fomo etc. Momentum traders then tend to use technical analysis to try and decide when the trend may be coming to a peak.

I would imagine that the stratospheric performance of RR since 2023 has been partly driven by those who invest using apps on their phones who heard that RR is really moving. Investment in shares amongst younger people is heavily on the rise these days - driven by the use of phone apps.

Andii - I think your approach has been the correct one. We all live and learn I guess.

With a mid or large cap paying a decent dividend, most likely someone who first invested in the company say 10 or so years ago would be better off than someone who first invested say two years ago. Especially if the dividends were reinvested in more shares.

That's the stock market for you. And the world of microcaps resource stocks is certainly not an easy one.

Hearing that someone bought from 2016 with an average of 16.3p makes you realise that the investors in the worst situations are those who have known about the company for the longest. That's sad really. Unlike say a mid or large cap which might pay a decent dividend, with resource explorers you can be much worse off through knowing about the company early on.

The exceptions are those who dipped in and out on the spikes that we used to get pre production.

It's just a shame that there is no reward really for long term loyalty with these kind of companies - the people in the best position right now very likely are those who only first heard about MATD at about the time of the last raise. Yet the company was kept afloat by those who heard about it years ago.

Trolls are only interested in upsetting people - so they will come up with anything that helps achieve them this. So the troll doc comes up with " the refinery will be binned " etc to trigger dismay and reactions. Reality and factual content doesn't come into it - the intent is purely malicious, with the aim of upsetting and disturbing people. That's how trolls get their dopamine fix.

If you want to eliminate trolling, then your friend is the filter button. I haven't read anything that this particular troll has written for at least 6 months. Still, just like some people can't help themselves from staring at the outcome of a bad car crash as they drive past, so some just can't bring themselves to stop reading the drivel that the trolls post.

Just filter that doc troll lunatic for goodness sake.

Why read his drivel ?

Wigster - indeed.

That kind of a stratospheric rise inevitably means some hefty profit taking at some point. I bet some who bought a few months ago wish that they had cashed in quicker near the 4p peak.

" I, too, would be ecstatic with 10p, but have seen many stocks just fly ridiculously on sentiment/FOMO etc (ALRT's 100-bagger this year for example}"

And we can also see the typical price volatility of microcaps with ALRT's recent price action - 4.1p at the start of October and now 2p today...

Good point about PetroTal's float being after a buy back abzzba. I didn't spot that.

A hybrid deal of a payment plus us taking a % of the oil revenue would be an interesting one. It would help us to move on quickly with block 7, and to perhaps accelerate the renewables side.