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FA - "The permitting IS in place for the upcoming Operations and as part of the Exploitation License ."

No it isn't. They need permits for the proposed 2022 Work Programme from the government. The 2022 Work Programme includes the work over of the existing well. So they don't have the required permits to do anything yet. Listen carefully from 20m10s : https://youtu.be/0covqU8EQYY?t=1210

FA - It's not suprising that one of us is getting confused because the CEO deliberately obfuscates when asked a direct question about whether they have all the NECESSARY PERMITS TO COMMENCE DRILLING - note the caps.

He waffles on about conflicts in law being relevant to exploration but not exploitation...blah blah... but that's a complete red herring, intended to throw you off track and divert from the true answer to the question.

Listen from 49m50s. It takes 2.5 minutes but I'll summarise:
Q: Do you have all necessary permits to commence drilling?
A: No

"I am sorry but what has been revoked. Our permit or what with all the de rampers on here one starts to get paranoid."

I'm not sure that they ever had a permit to revoke in the first place. In the video presentation that (the ironically named) FairAnalyst posted, at 49m50s, when asked whether they had all necessary licences and permits in place for drilling to commence, the CEO takes 2.5 minutes and several hundred words to effectively say 'No'.

Also from the last Operational Update RNS:
At the local level, provincial and district authorities have been unwilling to discuss local land access applications pending direction from the central government. Petro Matad is working at both central and local levels and recently made a presentation to the local authorities that administer the entirety of the Block XX Exploitation Area. The presentation was well received, which is a positive step forward in securing the permits required. We continue to push at the central, provincial, and district levels to secure the permits required for the next phase of our activities.

Congrats FredRubble, well done.

Strong bounce from here and rally up to a 132p close next friday... that's my outrageously optimistic guess for next week.

"Surely this is worth a trade buy at 1.2268p"

I've had a bit of a dabble at this level... so it will almost ceratinly drop from here ;-/

There is a gap that it keeps trying to fill down to 122.14, it's had a couple of goes at it previously but not quite managed it. Hopefully it will happen this time and we'll bounce from that level... fingers crossed.

"............. and isn't 'snowflake' racially offensive to write people now?"

Jesus, what a nugget you are. FOAD boomer.

America has always been an economically and racially divided nation and since the ending of the fairness doctrine in the 1980's the level of public political discourse has descended into the equivalent of a couple of chimpanzees throwing **** at each other. I can understand how americans find it hard to avoid getting pulled into that mentaility, because they're bombarded by it all the time; but it's beyond me quite why anybody living outside of that cesspit would choose to involve themselves, especially to the point of picking a side and cheerleading for them, sheesh.

No skeletons afaik, I'm personally comfortable buying here and waiting out any short term volatility... not ramping, I genuinely can't see this staying at this level forever.

There's a decent chance in the short term that it will see jpm's 75p but longer term the prospects are positive and 150p would be a reaistic target over the next few years. Depends on your timeframe really, if you're happy to hold for a few years then this is a good entry point. If you're looking for a short term trade then that's less certain.

@BB - you still claiming Trump won the election, god you're such a mug. Regurgitating right wing american conspiracy theories doesn't make you a free-thinker, it makes you a gullible idiot, incapable of knowing when you're being played. A fiver says you're an emotionally stunted, daily mail reading boomer who calls people 'woke' and 'snowflake' when they don't share your hate filled world view.

"100 per cent someone knows a rns has been logged for 7 am"

See what 7am brings but you're probably right, they don't even bother to try to hide their crookedness.

"Karma... If there was such a thing Sang would be riddled with cancer by now."

Wow! That's way over the top.

"BMN lost money in 2020, lost money in 2021 and, maybe, made a small profit in Q1 2022."

Do you think they did make a small profit in Q1? Because this statement sounds like a euphemism for 'we made a loss':

"Positive cash generation from operations impacted by, among others, capital expenditure, loan repayments and increasing working capital requirements".

Oil is down nearly 5%, BP are down nearly 5%, broader commodities are down and all main indexes are down. The entire global market is having a bit of a meltdown. Definitely a time to be buying.

Well done mole-man.

I was miles out last week but I'm going to stick with my strategy of being overly optimistic and go for 134p next week.

Looks like there might be a big sell order at 275p it keeps bouncing off there, hopefully break out once cleared

I bought some... not as many as you though

lat - nobody said it was a crystal ball capable of precise price predictions way into the future. What it can do is increase the probability of successfully entering and exiting a trade. It's just about gaining some extra insight and trying to get a bit of an edge. I don't understand why anyone would want to handicap themeselves by not using all available tools.

@perma.bear - I've given you a recommend for that lol... eventhough I completely disagree with your stance.