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if true, would they not buy in bigger tranches? and more consistently? not sure that is the case. might just be increased private investor activity.

Mr0nions said why can't someone call CAML and ask him what they think of ATYM. My post was merely bulletin board banter which is the norm on LSE.

i called them. they said ATML is overhyped.

also just to add its normally the mid and large caps that your broker will let you short because they have plenty of liquidity and volume. unlikely they would offer PMG, even if it is an excellent candidate for a price crash.

LuckCounts, do you even know how difficult it is to short a company like PMG which is has virtually no volume. You do actually understand the concept of shorting? Your basically borrowing the shares from your broker. There is no broker that I am aware of that would lend you PMG shares given such pitiful volumes. If anyone on here can say they are shorting PMG, I would think they're lying or they got a very resourceful broker.

that being said they have plenty of cash. so unlikely to happen in the short to medium term.

The other point is that he's the biggest shareholder and after his only a very small handful of large shareholders. In other words he doesn't need to pick up the phone to any shareholder or meet any shareholder at his office. exception being maybe Fidelity. Fidelity have a reputation for meeting companies management teams for where they have significant ownership. And Fidelity runs its investments on a portfolio basis, run by several fund managers. PMG probably makes up less 3% of one of their portfolios. I am sure when PMG cash reserves start to dwindle and they need another placing, then they will be all over shareholders like a bad rash with a begging bowl when they need to raise money for a placing.

JedClampitt, I find it amusing you took my post so personally. Luckily for Tom Cross, I don't have a significant holding of PMG. If I did i would vote for a resolution to reappoint a new CEO. I wouldn't bother contacting him as he's Dinosaur in the oil game.

the reality is that's basically like a start up gas company that has only recently achieved minor production. PMG was overpriced with that in mind. decline is also related to cash burn. AIM shares also decline when nothing exciting is happening as is the case now. there is no catalyst and no potential for it either so the company is drifting. They could do with setting out a plan on how they will expand on diever west. they have enough cash and the firepower to do so.

if it returns to net profit re-rate?

the share price might continue to decline. typical oil/gas stocks on AIM tends to have a market cap between £2m and £20m. Depending on the amount of cash, assets, licences, profitability, debt levels and licences etc PMG has effectively become a start up gas production company. A significantly more established gas company is Volga Gas. similar amount of cash as well. Quadruple the revenue and turns a net profit which PMG doesn't have. And the market cap is similar. around £40m roughly. Which says to me that PMG has much further to drift. I could easily see this fall to 25 to 30p area. unless it miraculously gets some impressive results around the corner. Volga gas is a better and more structurally sound version of PMG and much more established and advanced in its gas production capabilities and output. Using Volga Gas to compare against leads me to believe PMG has much further to fall. Very disappointing as I write this. Having been a staunch supporter of TC and this company, even my confidence is dwindling in this share now. Yet somehow I know if I sell it now it will shoot up. Will give it more time otherwise I will start to reduce my holding and eventually exit fully.

Marymullins is technically correct. The best kind of correct. Note 21 in annual report. £10.4m over 16 year period. £650k per year. As at 30 June 2016 10,479 10,479 The decommissioning provision of £10,479,000 (2015: £8,482,000) relates to the Group’s production and development facilities. The decommissioning provision is recorded at the Group’s share of the decommissioning cost expected to be incurred. These costs are expected to be incurred at various intervals over the next 16 years.

i think bottom drawer shares might be attractive to some investors with patience and long term outlook. The logic behind it, is that its potential value isn't already priced in so effectively getting in cheap. lastly and probably most importantly, the types of shares that are consideed for the top drawer, are the ones where its speculated to have an imminent breakout, they tend to be more risky and pump and dump in nature. The term "dusters" gets used a lot in conjunction with these. PMG is probably considered are more low risk play on oil & gas. compared to your UKOGs and COPLs.

"...once its up and runnning!" to get the PDL hub up and running to handle a billion barrels of oil, is a massive financial and operational obstacle. the amount of time, money and resources required to pull that off would far beyond what PMG would be capable and of for any oil company of its size and capacity. Even if it did a massive placing to fund it, at present oil prices, probably unlikely to break even. The focus is no longer oil. For PMG its about gas. Diever West is the example of a profitable operation. They need to expand on that. The PDL hub is irrelevant right now. Use the gas projects to build cash up, keep powder dry. then if oil prices recover its plenty of cash to exploit its oil licences and projects.

in

surely short term traders would opt for UKOG over PMG? don't understand why short term traders are in PMG.

years rather than months for a recovery although that's a damp squib. which is why I don't understand why traders and other short term investors would buy this share or even be interested in it. surely you guys would opt for a more "rampy" style share.

Only in May we were told that PMG had doubled its stake in the North Sea Licence P.2209 which contains the Farne Extension prospect. PMG is focusing on gas. its got diever west up and running in something 18 months from discovery/exploration to production. I expcect PMG to be rolling out production further for its other gas licences. It takes time. Could be at least 18 months for its to get profitable production up and running within the the Farne Extension. We ought to see the profitable gas production snowball from here. share price is depressed because PMG still have a lot of work to do and still have plenty of obstacles before they can transform the company into a mid tier gas production company. We won't see any massive re-rate. its more likely to be a gradual recovery over the next couple of years. Its not going to be a share for swing traders and other short term traders. 40p is a decent price to load up although bear in mind probably won't see £1 + anytime soon, could take years rather than months.

i get the impression they will use the some of the £200m placing to wipe out big chunk of their debts. So I don't think their debts will be any problems. They've done well to get the placing of this size through the door.

ElHumphreys respectfully i disagree. £200m placing. that won't double the value for shareholders but it does more than double the value for the company. gives it the firepower it needs to make acquisitions such as Entanet. Actually £29m for Entanet is a bargain. I don't how familiar you are with the telecoms industry?, but Entanet is not your run of the mill ISP. It offer a lot more than just ADSL. its offers wholesale to resellers as well. Not only does it sell lease it out its circuits but also transit/backhaul and cololocation etc. EBITDA of nearly £2m and turnover over £30m against a £29m purchase sounds like a bargain to me within the current market. Its actually a very tidy company to buy. and its backhaul and transit infrastructure ought to create more synergy with CityFibre's network. Very decent acquisition in my opinion. I will be topping up off the back of this news.