Member Info for Maru

No one is selling. The share price has seen to that. I think anger is a natural reaction. I actually respect the board for the most part. BM seems credible but I have to admin, I always had this feeling I couldn't shake at the back of my mine that JP remind me of a London market salesman.

https://www.youtube.com/watch?v=wz-PtEJEaqY

Is this how they chose their drill locations

I get that, it's disappointing but gas is still gas. Premier Oil Tolmount discovery is 500bcf and that was considered a massive find.

Sighs. Core NAV anyone?

Thank you kindly

Incorrect. Accumulated debt is not usually paid down in a linear fashion. Take for example, the structure of a mortgage. The first load of payments are weighted highly towards paying off the interest. And moves down incrementally towards paying off the capital towards the end of the loan term. Same case with PMO. Net debt will be paid down exponentially going forward.

It's been said 100 times that the rhetoric in RNSs will be toned down.

Nice well needed surge today :D

Shale oil is break even at WTI $50. Anything above that and the taps remain open

Markets always overreact. We just need oil to stay above PMO break even price. As long as PMO doesn't go broke, we can hold for the long term when debt will be paid down and a dividend will return.

https://www.opec.org/opec_web/en/311.htm

It's going to be a disgusting month but just tough it out. Markets react hard and fast now, doom and gloom is already being priced into oil futures. No one wants low oil. Sit tight. Perhaps even buy some more tomorrow after we inevitably crash into the 80's

Should add, PMO have hedged considerably so honestly price of oil isn't having the effect people think it is.

I hear debt is being paid down nicely.

Rumour has it from the horses mouth that PMO have paid down a sizeable chunk of their debt. I'm expecting a strong report.

The irrational market is at it again. The market doesn't care about the numerical value of the oil, but the trend it heads in. We could see a rise of 20cents a day from $60 to $70 over the course of a few months, and PMO would be 200p. A 2 day rise to from $60 to $80 dollars and then sharp drop off to $70 again (notice same end price) and PMO would be around 90p. Anyone that says professional traders are even slightly more rational than do it at home lea-leavers are bonkers. Market is telling me that PMO is 18% less valuable than it was last week? More laughable than a classic Black Adder sketch. Hold tight non-speculators/tea leaf specialists. Fundamentals are good.

^

Fell An irrational market, is causing you to worry? :/ The same Mr Market who valued loss producing tech companies in the 90's with larger market caps that Royal Dutch Shell? The same market who frequently under/overvalues companies on a daily basis? Forget what Dean and Bill down the pub think this share is worth. Them selling or buying honestly doesn't indicate anything. They haven't got a clue about the core NAV as much as the next guy. Fear creates more fear. It's textbook herd mentality. It's why when one animal in a herd panics, so do the others. It's why when people start rioting, others join in. The share price indicates one thing, and one thing only. Dean and Bill are more worried today, than they were yesterday. If TE9 comes in, they'll be frantically buying back in and telling their mates down the pub that the company is doing so well they better drill a 2nd and 3rd well so they make more money.

Look. this share was always going to either 1) shoot to the moon on successful TE9 drill 2) Crash and burn if the drill missed. Who cares what happens in the mean time? It literally makes no difference if the price stayed at 60p and crashed post TE9 or drips down now and stays down if the drill is a failure. Because either way, the share will recover or crash depending on the drill. The only reason you want it at 60p until TE9 is because it makes you FEEL better. If the outcome of this share wasn't money, but blades of grass, or something else useless, you'd all be saying " it's a binary outcome share, always has been; who cares" At the end of the day, it has always been binary. This was always going to end with a huge win or loss. Wait for the drills, at least for your own sanity.

The expectation of a "deal" was long factored into the share price the moment that this rocketed from 0.065p pre consolidation, to what it is now. If you bought in on a spike you're going to have a long wait I'm afraid. Just forget about the share until the drilling starts.

Certainly, and then buying more once the herd get bored and all sell out because the next big thing is right around the corner, thus suppressing the sp usually in the region of 50% at which case you can buy again pre herd prices. I was lucky enough to get in via open offer. Herd buying on 20p will be suffering now.