Member Info for Ojay

Guess we'll see a 0.09p correction tomorrow.

Congrats ALGU! If all goes to plan you're in for an life changing ride you'll never regret (and forget).

Regarding "SP activity" going forward and "realistic targets" I suggest you read the history of Mr. Positive's and Big Bench's posts.

Welcome to the club!

Sellers may be getting ready to crash the party - but let's hope not.

but that's AIM for you. Like everybody else I hate it but at a marginal volume of 2.5mil (on the sellers side) there's no sign of anything other than a chicken run at this time.
Buyers have and will still be taking the opportunity to dive in while the chicken run lasts. Good for them. We'll be seeing quite different numbers soon. First come first serve.
GLA

I expect them to do better than "early July" on the spud date. But that won't happen this week.

Dozzawba: If I knew more than you - I'm not sure I would tell you (or anybody else).

Fact is however, I simply don't know and like most of us PIs there's not much more we can do than speculate. On the other hand I find your speculative view to be very realistic and to be honest I hope that's actually what's going on behind the scenes.

to give up that easily. Wonder what he's up to.

Thanks ghekko - must agree with Dozzawba: David Lenigas is a bummer with an agenda. Not again - we've got plenty of those around here as it is!

Yes - when investing in AIM companies you need to have both eyes open and understand the risks - no question.
Nobody can say there is NO risk attached concerning any company listed on AIM.
In addition - and as I've said many times before - there is no point in speculating on the future share price (e.g. of matd). The market will tell us how that develops going forward.

Having been with this share for more than 8 years I slowly, surely and sorely have learned to understood certain patterns. Patterns you can't rely upon BTW but patterns which provide information for investment decision making.

So: From my - as always - modest POV PM's SP took a blow due to non-fulfilled expectations. Optimistic investors were hoping for a spud end of April or during May. PM said: Q2 - which could be anything until the end of June. It has now turned out to be "early July". As that pre-announcement is not cast in iron the actual spud date may turn out to be second half of July. Who knows - but ultimately who cares? The short term investors care! That is just too long for those investors to keep their invested money locked in. The consequence: Sell off in order to invest in other opportunities in the mean time.
Therefore my best guess is: As soon as this sell off is over the SP will rise again. Why? Look at the prospects - looking pretty good - no actually looking extremely good this time.

GLA!

Although the delay is just a few weeks and therefore not that grave - it is a delay. Expectations were not met and the SP is now being punished for that. Funds are now being shifted into other "opportunities" - that seems to be a popular strategy with aIM investors.

Apart from the delay the RNS is positive. We now know that the rig contracts are in place and drilling will begin in July. It may take a couple of days but the SP will be back on track soon.

Time is on the patient investor's side.

we receive a RNS concerning conclusion of the dual rig contracts and a spud date within the pre-announced Q2 period the upward sp development will highly depend upon:

1. The number of share holders willing to get rid of their shares at a profit; my guess is that there will be plenty of those around and their selling spree will put the brakes on any sp rise.

2. It will also depend on the amount of potential buyers waiting on the sidelines for the RNS confirming the spud date. These are the ones who will may have more power than the sellers to push the sp higher in anticipation of the grand prize.

As I said recently, AIM is a gambling arena - anything goes and nobody knows. The good news is however, that once the (expected) news arrives the sp will jump upwards. The only remaining question is: How much of a jump?

Manro - and don't forget the ferrrari you promised me once we strike!

Manro: I have a lot of sympathy for your posts; however I don't really understand and cannot relate to statements such as: "What have PM been doing since…? etc.". If you should be experienced in the O&G business or have 1:1 comparisons to other exploration companies handy which prove that PM have done a lousy or insufficient job then you should say so. If not, I think it would be better to talk with the people in charge before measuring them up to your expectations. Don't forget that PM are dependent on third parties and therefore cannot dictate the schedule.

Clearly, we - investors - would like everything to happen quickly if not immediately. I for one have learned that this does not correspond to operational reality. Especially if you are dealing with an O&G explorer which has limited resources (and not a hoard of employees) to get the job done.

So, from my POV: Take it easy. If you don't want to contact PM directly the only thing you can do is: Wait, be patient, trust or sell your lot.

Regarding sp development pre spud and thereafter I believe in only 2 things:

1. Investors will do their own math and factor in or not factor in the massively better COS with the upcoming double drills (i.e. 2 simultaneous drills) less than a mile away from oil producing wells; and

2. AIM remains to be a gambling arena where bets are made on anything that looks promising.

Based on that I dare not to make any predictions. As some "wise" posters on this BB keep saying:
"Only time will tell" - how true indeed!

shibs: At last somebody who's talking sense.

It's just one of those AIM-things: If your goal is to shift your money around every 2 or 3 weeks, waiting for 1 or 2 months is unacceptable!

Silly? If you (h/h) think you're so smart why don't you go ask PM if you could be of any assistance to move things forward?

Agree dan1nat1: I guess wishful thinking has gotten the better of some of us. We all tend to be impatient and would prefer things to happen a lot faster.

I for one am happy with a spud date in June - even if it's 2nd half of June.
Patience my fellow investors, patience!

Tony - thx for giving us a heads up. Good to know the reasons for the larger than usual sell-off here.

I'm sticking with matad for the long haul (sorry brokers!).

GLA

Oooops! That should read: "from 5.05p to 5.55p".

this was. Considering the fact that everybody is still waiting for the news re rig contract and spud date nobody would have been surprised if all the doomsayers' predictions - of a sp drift until news arrives - would have been right. Instead this week the sp experienced a rise from 5.5p to 5.55p. Today's correction (-4.31%) was partly attributable to the 11% rise of yesterday which - realistically - should have been around 7-8%.
Nevertheless, the market is currently displaying an interest in PM's drilling programme and I dare to say that this interest will increase once we (finally) receive the much expected news as mentioned above.

Good luck to all LTH - you (and I) deserve to feel the winning feeling which should get to you very soon.