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He will never find it... As sure as egg is egg...

Krakenoil, we reached 147 with oil at 84 a couple of days ago and now with oil at 86, we are at 138-139... That's all I am saying. I can understand profit taking if oil was going back top 80 or under (and maybe it will), but what do you make of profit taking when oil has been going up in a huge straight line? Whe n oil was tanking 5 years ago, our sp was going down to 19p from £ 550 as a lead balloon...

Downbtnotout, you are back! We all missed you here in the last few weeks, when poil when from 70 to 86... Now it had dipped by 0.1 dollar to 85.90 and as soon as you painted the doomsday scenario, it is back at 86... I wish you can lift our sp up as well with your predictions?

Alfa, no I am no disregarding those factors. But maybe you are disregarding that we now pump 70k of oil a da y from catcher alone and that operating costs have fallen a massive 70% from those years back! And what is the correlation between oil price hugely up and our sp languishing so much? There is always something with PMO. Solan delays, then debt, then more shares issued, then oil too low, now oil too high... Wait... Soon Tony Durrant will pick his nose and our sp will dive because of that. 138 now and tanking...

Brent at 86, highest for several years. PMO was at £ 4 when oil was last seen at these levels. We are now at 139, down 2% today, after being 1% down yesterday. Some of you suggest that oil at these levels will kill demand and be bad for PMO. What?!? in 2011 oil was at 110 and PMO was at £ 5.50... I have no idea why we are still languishing at these low levels, despite a huge rise in the last few months. If I had gone in hybernation when oil was at 30 and seeing it now at 86, I would have thought, waking up today, that PMO was at between £ 3 and £ 4. As I bought 4 years ago at £ 1.80, I am lucky to have seen the sp climb back to £ 1.39, but I am still hugely down. Well done to all of you who managed to buy at much lower levels and sitting on huge profits now.

One bad day, Whiteace? PMO needs to recover 15%, yes 15% of what we lost in the last 3 trading days, since our sp was at 130. And franky, even if you do not want to compare it to other oilies, what is your explanation why our sp has been hammered? I suppose you do not even have an explanation for what you had for dinner tonight...

I fully agree with you, Sharelock

Ignore the above, Whiteace? What above? There is nothing above your last post... Are you on the bottle tonight?

Whiteace, you arrogance and bitterness to a post of mine where I was merely asking of anyone had any ideas about the bonds and conversion of them, is simply unreal. At first sight I did not think you even deserved a reply, as you answered none of my questions and only pour out poison, but then I thought that people like you deserve to be put firmly in their place. PMO has doubled in the last 6 month? It has also come down 85% from his value a few years ago. Do you know that? Probably not...

Another very disappointing and odd day... ENQ up 5% (reversing a 4% drop this morning, so a 9% turnaround today!!!), CNE, TLW, OPH and TLW all up, but we were down and finished level. I have no idea what is going on with these convertible bonds and their holders... when is the deadline for selling them or keeping them and why oh why do they have a bearing on the sp? I could understand if all of them had been sold, but the volume of shares traded is pathetically low, compared to the average PMO day, so I really do not understand... We have been retreating and in the doghouse since we reached 130 last week. To be outstaged by dog shares like TLW, OPH and ENQ is unreal... PMO has a million better prospect than them... Yes, we have debts, but so have all those companies too and we have far better assets and future potential... Anyway, let's hope for better days ahead. Anyone who can shed any light with regards to these bonds?

The way things have been going with oilies the last couple of days, I am really happy to see that PMO is behaving so resiliently. The news of rights issue at 21p from ENQ is very scary for us and this morning I thought we would drop to below £ 1. They have even less debt than us and I was really worried that we would tank, since I do not put it beyond our Board, to call for one too. ENQ lost about 22% I’m the last two or three days and TLW is not faring much better... it’s trading at around 219 now. TLW sp was always between 2 and 4 times more than PMO on average in the last 5 years. It is now only well under 2 times and we are in a seemingly much stronger position and outlook (debt aside!!!)

Sauer, you will make a lot of money on the shares you bought today and previous days. Cat or no Cat

Brent has recovered a bit now and sits at 76.50 which is still 1 dollar down, but when it went to 75.83 earlier this afternoon, I feared we were going to go all the way back to 70 dollars in the next few days

Hi Kelotoni.
Yes, let's hope we can move forward now and resume the upwards trend

Downbutnot out... You know better than anyone else that there is no support level for oil or shares. Also, WTI is not important to PMO. Brent is and it is trading at 75.92 as I speak to you, having started the day at 77.65. Almost 2 dollards lost, despite very positive data released this afternoon...

Kelotoni... Volume was only 10 Million today, which is the average. No extra shares traded. This is at close of markets on yahoo Finance: Volume 10,160,409 - Avg. volume 9,723,524

Just before oil data this afternoon, Brent was 77.60 and PMO 115.20
After data was released, PMO climbed to close at 117.70 whilst Brent tanked to just under 76...
More proof that it is all nonsense and markets are manipulated, irrational and impossible to understand. Glad we recovered most of the lost ground today and only closed down 1% in the end, whilst TLW closed down 2%, ENQ 3% and RKH 5%. Oil going down after data was more than positive is another mind boggling event... Let's hope the decline stops.

so Brent at 77.60 has lost a lot already according to you?!? Only a week ago it was at 70 and you said it would go down to 60. What game are you playing, DBNO?

That's a brave thing to do. DBNO, for someone like you who thinks oil will go down? Surely if you buy just before the figures are released at 4 om this afternoon and oil tanks, your shares will be worth a lot less at the close of play today?

Very true, Comeonvog. Wise investor you are. I truly believe you got a real bargain, but I do not wish to jinx you, so I shall keep my mouth shut and cross my fingers for you and all invested here