Member Info for Isengard7

Sonofthebull, look at the share price and compare it your entry price. then i dare you to say its a load of baloney. proof is in the pudding, you obviously haven't tried yours yet. your slow on the uptake.

just to take that bit further you can consider the tangible net asset value.

haven't at the bb recently. so just catching up. Thanks, Pijoe1212 and Roadster66, I try to give constructive feedback rather than just mindless ramping, with the goal of offering an alternative perspective with some bulletin board banter thrown in. Cheers, GLA

Ryan Strougler ICAEW accountant, if your reading take notes lol. giving you an accounting masterclass. maybe you can help your colleagues to realize they're wasting they're time and money on exploration. focus on diever west

Net assets �68.8m minus �33.3m which is exploration assets (really this is just explorations costs that has been capitalized. This is effectively where the Exploration and evaluation expenses comes from on the P&L. Oil companies like to hold this on the balance sheet) = �35.5m. current market cap valuation is �36m Hopefully that helps drill down as to why the share price is currently where it is. nothing to do with market makers.

funny how they don't go into much detail about the relinquished exploration licences in this recent RNS. but they let the cat escape bag on the previous one. I did control f search on the word "relinquished" didn't come up in this RNS but it came up only on the previous one. Tom Cross - aka The Charlatan.

Almost �5m net loss. Net assets continue to decline to �68.8m from �73.1m. Impairment of exploration and evaluation assets - (important point here) Exploration and evaluation expenses includes impairment charges of �2,409,000 recorded in respect of exploration licences relinquished in the period. Therefore is this necessary? -Doubled stakes in the Polecat and Marten oil fields to 100% - Increased stakes in the Perth and Dolphin oil fields to 60.05%, building Parkmead's oil reserves - Acquisition of a 50% interest in UK North Sea Licence P.2209 c - Seven acquisitions, at both an asset and corporate level, have been completed to date This is a waste of time, money and inefficient allocation of resources. Why keep making acquisitions if it is inevitable that they will have to relinquish it? There just winding it all up, and will result in more impairments. over �30m in capitalized exploration costs. that is is the reason why market cap is only �35m. brokers think its worth 70p. (�70m) yeah that maybe reasonable, but deduct �30m in capitalized explorations costs and really its only worth 40p maximum.

humphery gone quiet. hasnt posted recently. i wonder why? lol GLA.

I have said it loads of times. maybe finally people will see what I am talking about now. Last time brent was in the $60 area was Jan 17. at that time it was just under $60. PMG's share price was over 60p. lol that's how correlated it used to be so closely correlated back then. shockingly it has completely lots is correlation with oil now. Oil could go up to $100 and this dog will still be in the 30s. Oh i can hear it now. the ones in denial saying i am shorting the stock. 5 stages of grief and some still in denial.

Buzz we have had our disagreement in the past. now you can see its ridiculous. nothing to do with Market Makers. it has everything to do with The Charlatan.

Moyon, Steve Jobs got lucky initially as well. Lucky that he met Wozniak at the right time who invented the two Apple computers in the 70s. But where he differs from TC, is that Jobs was far more consistent and had repeated success which was more than luck. Year after year coming out with new products and innovations. The Charlatan on the hand is just a one trick pony who has never repeated that success he had at Dana. You can hardly suggest TC is in the same league as Jobs or Gates. Jobs and Gates more than luck alone. TC pure luck, relatively speaking in comparison.

i think its more simple than it seems. They just need to expand on their pre existing gas production in Diever West. They have enough money to to triple production and to triple the revenue along with it. The Charlatan seems to lack imagination. Hard to believe he was responsible for the success at Dana. I don't think anyone can believe its the same person.

One of the best stocks I could find that goes with the Zulu Principle philosophy and also that of Benjamin Graham's.

One of the few shares in my portfolio that I can say I am happy with. Held it for over 1.5 years and have been very happy with the performance and within that time I have added to it 4 times since the initial purchase. I normally moan about some of the shares I am in but this is one which been my flagship share in my portfolio. I don't recommend shares very often but this one I recommend to add. I can see this being a long term share for me and will aim to keep it for my retirement. GLA

...Certainly has the financials of a typical small cap AIM stock anyway. You never know when you have to return to the market for a raising, no point cutting your nose to spite your face.

Normally on AIM CEO's are more like cheerleaders; they promote the stock wherever they can. PMG is an AIM company but TC acts as if its got a main market listing. Sorry TC your company is a small cap AIM stock. Perhaps you need to start running it like one.

if net earnings was �1m. if you had a market cap was a multiple of 20 of this it would be �20m. Market cap currently is �37m. So solely based off a PE ratio basis, doesn't look great. So even if PMG does generate net earnings for H2, say �1m, don't be too disappointed if the share price doesn't go up as much you think.

LuckyCounts, I did think Ryan looks a bit young for an FD. I like analyzing companies with PE ratios. unfortunately can't do that with gross; normally done with net earnings. Gross profit only involves revenue and cost of sales. If overheads are bulky its no good. They could pull it back for H2. But from what I can see they haven't done enough in Diever West. Its profitable but I suspect they haven't scaled it up much since the interim report. But time will tell. GLA

Thomas13 short version of the answer. PMG isn't correlated with oil anymore. That also means JOG news has not got as much influence as you might think. why is not correlated with oil anymore? Focus has switched to gas. Maybe correlation has been lost partly because of the Athena oil field being decommissioned . but i suspect they had to do that to keep costs down and it wasn't profitable. Bloated admin expenses and exploration expenses. Diever West is profitable but for some reason capital and resource allocation is not being focused enough on it. non-cash revaluation of share appreciation rights hammered admin expenses. Not convinced management has managed that situation that well. Stock appreciation rights (SARs) is a method for companies to give their management or employees a bonus if the company performs well financially. Hmmmm not sure they deserve bonuses if I am to be brutally honest. I am sure Buzz will disagree with me. I am sure he thinks they deserve multi million pound bonuses.

Buzz you make me laugh. I want this share price to go up so I can sell with minimal. Although I need this share price to go up doesn't mean I am going be dishonest or compromise my integrity, and ramp it like its best company ever like many of you do here. Because I need this to go up, it perhaps makes my opinion an honest one. But don't get too wound up it is after all just an opinion on a bulletin board. Luckycounts, it is loss making. Net profit margin is -166%. I don't consider gross profit, I prefer to look at the bottom line. In my opinion its the bottom line that count. The $8m didn't bother me. Its clearly noted in the accounts its spread over something like 15 years. that doesn't worry me. The interesting dynamic that Athena played on PMG was that by forgoing it, they also lost their correlation with oil prices. Without Athena you can't expect it correlate with oil prices the way it used previously. Catch 22 was that when oil was only $35 per barrel Athena was draining cash and hitting the P&L hard. It wasn't profitable at that level. so they decided to decommission it to protect the P&L so it was a bit of a rock and hard place for PMG's management team. I suspect Fidelity lost their patience with PMG's lack of direction.