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Not in atm but would like to reinvest strongly in a while at these low prices: have two main concerns though; the Bahamas govt and the (current) leadership of bpc; not sure if either have the guts or the drive to get this through...
Maestro you say:” what concerns me is that the SL was a multiple horizons drill and if oil was found they would have told us.“
So would say something like we found some at the top abs a bit two thirds down and now were waiting for the last leg
Has any company ever given out information like this?
This may sound incredulous and is but is also a genuine question as all things are possible
Mike You well be right but set against thiss Is what Proselenes clearly stated BEFORE this with detailed reasoning that this is exactly what they would do in the event of an oil find or at minimum potential find.
I have no idea the truth is but I ALWAYS very carefully to someone who has predicted something with spit on accuracy in advance especially what’s they supply detailed logic and reasoning to go along with their arguments🤗
Agreed it’s an assumption and may well not be the case
But erring on the cautious with the one (the major in exclusivity talks)
Good mileage here; just because this thing fell through does not mean others won’t work
Feel s p will probably edge down a bit (1.4) in meantime
It really is that ; buy low sell high to paraphrase a famous saying from w buffet
U can see some big boys are playing this today !!!!
Only fools try for buying at bottom and selling at top but given that this is now low and nothing has gone fundamentally wrong we are now in buying territory until at least 4p....
Not dead; they still have assets; just failed to clinch deal.
I am back in with 55,000 shares
Placings destroyed market uplift unless there is an oil strike.
It’s a sentiment thing largely; everything resting on an oil strike which three is a far far higher likelihood of than regular statistics would suggest.
Many were shocked or certainly very very surprised by Donald trumps win; there were a few who fully expects it (fwiw Scott Adams is very useful on this topic) and it is the same here
Three are many on this board/is this share who will not be in the least surprised by multiple oil strikes and that’s not because they are stupidly optimistic but simply that they have looked at the thing in the round formed that assessment
Have personally always felt MB was doing the right thing here - partly from having faith in him and partly through that the old model of invest prior to drilling; watch it fly; derisk and have a basic win win for investors is just too cushy and easy; he is playing a tougher game and I respect; it will not be without potentialy significanr rewards...!
Always darkest before dawn....
Bpc was down around .5 of a pence in December of last year and was the board dire at the time or what..!!!
Well that was the time to buy; even screaming it at the time but you do need to have a bit of faith in such moments
From advfn - says it all
pro_s2009: Duc, well, on MATD and our side is the fact that BG reviewed all the technical data on Blocks IV and V and decided to farm in. Yes, it was all cancelled after later Shell purchased BG and then went on a campaign of refocusing on core areas and Mongolia was one of many dropped by Shell, but the simple fact remains that BG liked what they saw and wanted in. So we have the diagnosis of the past MATD wells drilled by the previous team which where found to be too far away from the kitchen. Migration has not happened as was originally thought. This does not take away the fact that oil was there, just that it had not migrated in volume as previously thought. So the oil is close to the kitchen.......and this is where MATD are drilling Snow Leopard-1 and Wild Horse-1. So the signs are good......it is of course high risk and a duster is more likely than an oil strike, but at 9p a share its a very good price because a strike at Snow Leopard would firm up the potential for around 500 millions barrels.... Not worth talking about the second well Wild Horse-1 which follows the ongoing drill, thats for later. The good thing for me is that MATD have a strategy in place, the moment they find oil they will farm out to Sinopec or PetroChina.....so they get development costs paid for under the farm out deal. Quick and low cost to MATD in the event of a discovery. MATD does have the potential for a massive rise on any finds........yes its high risk, but you dont get such a big potential rise without risks
I have looked at this from a number of angles and can’t really see how it benefits being out; yes you cooing have got in around 8p in the last few weeks but to have been able to see that happening takes a real gift of something which admittedly some people seem to have but I would prefer the safer (dullet) route .