Member Info for Mamms

I'm sorry but could you all step back and listen to yourselves. Review just the last 10 days on this board 'the sp movement is illogical' 'we'll be a quick 4 bagger from here' '15p is imminent' etc etc. Meanwhile, those with real resources and skin in the game have seen that that bill is likely to get passed to the next stage. They see the Department not issuing permits but going back for more and more detail and which leads to delays and more delays (when will Iolar get drilled? who knows). We're a long time since the 'discovery' and the world is moving against oil and gas. Don't get me wrong, I think we'll be using both for 50 years or more but the general environment is moving against it and the sector - drilling in 5 years will be a lot tougher than 3 years or 1 year, drilling in 10 years will be very tough and eventually, all new drilling will stop. So delays cost and forgetting about this bill (which if it goes through will be very bad for the sp) every delay moves us closer to a really bad general business environment.

I presume you are trying to offload a few wonderer....

I don't think it's the bill that's driving the weakness - look today at Fianna Fail's position on the Environmental bill where Cowen (from Offaly) is saying they'll only support the carbon tax if the money goes back into the affected areas (Offaly) - peat has more CO2 than Coal but less than half the energy output. In the end I don't think the other amendment will pass either - we can't not use oil and gas, do we import it or do do we do it ourselves is the only question. No, I think the current weakness is a function of the authorization procedures which have clearly become much more complex and difficult. Iolar is now being delayed with a full AA submission being required just yesterday, I've no idea what that is but it sounds complex (and lengthy) so the possibility for a boost from nearby drilling dissipates while there may be implications in terms of further delays for our own drilling programme. what a balls.

Phoebus, In the past when there has been apparently no logic to the sp, suddenly something is revealed that shows that there was logic, we just didn't know the facts. It's amazing really, I am as guilty as everyone else on this board, we are constantly waiting to soar after being bet down every day....... even Pavlov's dog learnt eventually....

Given last weeks activity - I presume more RNSs are in the offing? Pagents increase was about 6m shares. Captial dropped 23m and there was about the same through other trades - one trade alone was 15m - that's not crossing a threshold if it's a new holder but that seems unlikely? When should they come through?

look, I was unaware of the rule too till I read that FT article I posted (which is set in the context of Royal Dutch Shell, Ryanair and other large entities with dual listings or multiple listings).

If no action is taken and we have a Brexit without an agreement then this is one consequence. If you have a UK driving licence and live in Ireland you can ask for an Irish licence (but you cannot after Brexit), your car insurance if you drive from the south to the north is no longer assumed to be valid and you need this 'green form' (it's standard on the continent but will be new here), telephony roaming in the UK may become like roaming in Switzerland (very expensive) and so on and so on...

Do any of them make sense??? None of it makes sense but there you go.

Duster, I meant from my perspective - EU-based investors can only trade shares on exchanges recognised by the EU - That will force EU-based asset managers to buy and sell the shares of the affected companies (any dual listed company) at typically less liquid and competitive exchanges outside London. It also means that I (an admittedly piddly investor) will not be able to trade PVR electronically because it only goes through LSE. PVR could ditch their ISE trading and that would resolve the issue but I don't know if PVR have any plans in place - I have pointed out the problem to them but got nothing back.

We're all going to find out sooner rather than later I suspect..... I've been investing because I can't believe it will come to that but I am holding back because I recognise that the probability it could go titsup is rising quickly and averaging is the only trick I know. I know you believe something else but the reality is that no one really knows. I'm simply cautioning against the 'all in' narrative of duster....

As a balancing act to that - you'd be well advised to consider the general environment. We are looking at the hardest of hard Brexits (May either wants that or is a complete moron) perhaps it will come in March or perhaps in June but it is inevitable in my opinion (though withdrawal of Article 50 is possible it seems very unlikely). Remember, PVR has a dual listing so will cease trading on LSE and will only trade on ISE - https://www.ft.com/content/3c19e572-256f-11e9-b329-c7e6ceb5ffdf - and that will have serious consequences in terms of liquidity- combined with the currency shock - you'd probably be able to buy at half price. That hardest of hard Brexits will also knock the oil price so we could get multiple and rolling adverse conditions over months and years -remember 2014/15??? I have bought PVR recently but I am also keeping a good chunk of cash off the table. It seems absurd, but the scenario I outlined has a 75% probability of happening I reckon....

Hi Phoebus, the question is why would the ii's quit PVR? In general their exit heralds something. Suppose ToR realizes during negotiations that Newgrange and Avalon will get drilled before BROE gives a result and so his cash position is not sufficient and he needs to borrow or raise. Given the experience with borrowing he'd likely go for a raise. Yes, they have cash on hand but not enough to pay their share of one or both of those drills. ToR goes to London with his tramp pants on, talks to one or two people about funding and suddenly Capital and couple of others are running for the hills? I remember a few years back a lot of people decrying how 'irrational' some of the trading at that time was - it turned out that some people (people not on these boards) were just better informed than others (people on these boards)..... of course it could just be people being caught short but I don't really believe that - in general though, PVR and LOGP ought to be in lock-step.....

Like a genius I exited LOGP and bought more PVR. LOGP is currently up about 90% YTD while PVR is up less than 8% YTD.

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The problem with the 6m sell (actually probably an 8m sell) is that at that scale they are likely in touch with PVR and would have alerted them to the sale. If there was anything upcoming they would have been alerted. GE buying is a plus, be interesting to see more RNS on shareholders in the coming weeks....

I've increased my holdings, back to 2m - I expect to hold now until drilling complete.....

I think I'm more like a ******ed version of Pavlov's dog..... it must have been C&F twice and continuing.....

While not certain, PVR do tend to deliver good news on a Monday or Wednesday and bad news on a Friday. All signs pointing to something bad tomorrow....

Looks like we have 3.5m since then - it could be that there is more going on here....

I reckon there is 1.5 or 2m still to go. Should clear today or tomorrow.

if that was them selling earlier, then they will take 13p and maybe less for chunky trades. I even put in an order myself...

Consultation now open. Closes April fool's day.... I'm not joking!