RE: August30 Jul 2023 12:06
What he says is true though aim for the companies that are raising to do a drill get a good entry point and get out before results. Matd has tripled and Pred has done well since the placings. (Below) I take everything people say with a pinch of salt but seems an easy way to make decent returns….
big winner so far this year has been Predator Oil & Gas (PRD). Management has sensibly (from their point of view) continually delayed testing, ensuring the ability to keep fundraising for each well. It has also offered a profitable trade each time. The initial MOU-1 well in Morocco was drilled in 2021 and provided exceptional gains, moving up from a low of 1.21p post placing to a high of 22.5p prior to the spud. Three further wells have been drilled this year: MOU-2 (funded by a 5.5p placing in 2022; the share price reached a high of 12.3p prior to the spud), MOU-3 (funded again by a 5.5p placing; the share price reached a high of 9.89p prior to the spud) and MOU-4 (funded by an effective 10.5p placing; the share price reached a high of 21.3p subsequently - back at 15.5p another placing now appears imminent). All were covered in the Private Blog, which I’ll refer to as the Private Letter henceforth, to match in with the Substack title of Oilman Jim’s Letter.