Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Personally, i'd like a message that explains what has been achieved since the bullish update in March. Pesh is DNO and DNO managed. We have our own assets that we have been talking about progressing for 1, 2, 3 or 5+ years now depending which you select. Is Pesh drilling going to plan? would be nice. Are our assets developing? yes, no and if no then why not? Cash is healthy, what about potential acquisitions that they keep mentioning every quarter? How are talks with KRG going to move our assets along? This is all pretty simple stuff and I don't think unreasonable. At least we can then form an opinion as to our investment rather than be sat n a 20% loss in a rising oil price environment and a market that now has about 50 trades per day and is off 5% daily as a result. This share id odd and behaves like an aim share- therefore it needs news.
Make no mistake, i am as bullish as you can get here. Don't get me wrong, i expect some volatility and some ups and downs but with oil rising like it is and this having drops of anywhere between 4-7% a day, this is starting to really take the p*ss. There is drilling going on, more cash coming in, lots happening..... I really do think management are completely missing the mark with this silence- and i rate them highly btw. They are leaving us wide open to manipulation. It is not hard to communicate
Weekly check in and still no news? Guess this will have to keep on dropping and hopefully force management to say something. 3 months now, and 20% down, $80 oil and a further $60m in bank. Seems totally counter intuitive for them to put inso much effort and hard work to get PI's interested here get the share price moving finally and to then go and kill it dead like they have. See Hawkey's reasons for being cheerful and then tell me there is no news to report. Have no clue what management are playing at and will reassess my holding should good news come as this is a joke now. Loyal shareholders get shafted while traders milk this. All they need to do is talk to investors and keep us up to date or MM will f**k this over like they are doing every day now
This share is a dog, pure and simple. Been one of the most miserable shares i've ever held. Not even $80 oil can make this rise, complete opposite- all it does is fall. Look at the short interest says it all. Wish i never heard or invested in this company tbh. Hopefully see 600 again, god knows when and i'm done
I read and appreciated the comments Hawkey. I think my problem is just lack of patience. And that has cost me in the past. I held PMO for ages and made money out of it but couldn't stomach jumping back in after it kept staying hovering in the 70p area. Now look at it near 130p almost a few weeks after i finally gave up it just kept rising. I bought into junk like Ophir energy and enquest thinking the grass is greener...
In terms of your comments, there was nothing much in there that we don't already know. Understand that there would be nothing price sensitive though. My issue is we have heard the same rhetoric for at least a year if not more. I am grateful and admire Genel management and look at what a great job they have done getting us out of the rut we were in. But they are very conservative and sometimes i think to myself are we ever going to push on with things. I genuinely thought miran might have started by now- i guess it needs to be krg approved first. Gas, well seems like forever I have heard it might start. Literally years lol. The Rosneft rumours really got me excited that maybe progress was coming, finally, yet nothing again. Taq Taq... same old might do this might do drilling etc etc etc, yet nothing. Pesh I thought we would have heard news last month. Somaliland, same seismic jargon which has been talked for about 2 years but never seems like anything happens. I guess i'm rambling, bottom line is I was hopeful we would have a flurry of exciting bits and pieces off the back of the bullish tone in March yet, thus so far, absolutely nowt. I don't plan on going anywhere- just a little disappointed i suppose that we are not pressing on like i expected we might
I'm as bullish as anybody, but even i am getting fed up here. After 2 years we were finally recognized and put on the map. The silence from management is deafening and volume confirms this, we are now back to no trades and zombie again. Why they don't want to say anything baffles me. But if they are not bothered about investors and seem unconcerned maybe its good.... i dunno. Oil price where it is should at least stir some interest but guess this will just drift until we hear something. God knows when
The most horrible disgrace of a shambles i have ever had the stupidity to put money into. Absolute dog of a share. Every oil company on the market doubled the last 6 months and this has halved. A pathetic rise yesterday and it cant even sustain that. Down 5% with oil up and sat at $78. What are these pathetic morons at the helm doing. Are they sat at the beach? could at least send us a postcard to provide a distraction from the trainwreck that this is. The opportunity cost of being stuck in here whilst every other oil share rises is unbearable i just wish i could stomach the will to sell.
Concur Ocelot. Management have done an absolutely sterling job and I have faith in them hence still invested. Just think that by the time news comes (if there is good news) what effect will it have on share price by then? we may just end up back to where we were. What if it does not meet expectations? (its been 3 months now and heard no material news). Impatient, frustrated, yes i get that i am guilty of that. I just had expectations that they were making all of the right noises last results and have said absolutely nothing on anything (material at least) since. JF
I think it's just trading a range Hawkey in absence of news. Definitely a bit of all of the things you mentioned. I think that the share price is ok, Although it is still cheap- based on what we think we know!. Confuses me why the bod were so up beat and bullish in March results, considering the level of activity and exploration potential and have just gone into radio silence. I think with the share price its just reflecting that
for a punt. Ignored my waiting until day 3 rule and staying away from aim shares. Getting what i deserved for ignoring rules
Perhaps silly question- since this is Ophir- but why drop today? No hope with this share
Certainly a unique share, market having an up day for a change, oil up, $27m cash banked.... this share drops :) Switching off for a while seeing as bod do not want to communicate with shareholders for whatever reason. Remain bullish here
don't mind admitting i got this wrong. Sold Randgold which was a dog still holding here but the dollar strength and commodity prices mean there is no appetite for shares like this currently. In absence of news I doubt this is the bottom. Then again when I wait for news it almost never arrives. Another dog for the bottom drawer
Glad i dumped these last week. A complete and utter POS this share
Dog of a share, pulled the trigger and got out today, several months of holding and this just goes nowhere