Member Info for Ojay

To be honest, I don't believe there's any value in predicting the outcome of a single trading day. The overall tendency is what counts - and that looks very good at this time considering the good news hasn't even arrived yet.

Trading will start red tomorrow as today's rise of 11% (as opposed to the actual rise of 7-8%) was unjustified. Don't get me wrong: I will applaud to any rise going forward - I just have the feeling Terryali is right when he says: "We need [good] news to kick start this baby".

Still living in the past eh B/H?

BTW you forgot to mention the investors who bought in @13p and didn't sell @£2.10. Were you one of those?

Well - in that case let's hear and feel some positive vibes from your end for a change.

Mike31: I'm sure you'd feel a lot better if you invested in oil producers. Not very thrilling but safe - like you seem to want it.

who purchased hundreds of thousands of shares @5.15p just two days ago. But how are the sellers feeling who sold those amounts @5.10 -5.13p just two days ago?

Sorry gatto - you can count me out as far as the "many others on this bb" is concerned. But I take your post as being truly cynical.

Woah! Looks like h/h is getting emotional - about what again?

As I said: Definitely need to put h/h in charge!

I guess PM should've put hoofhated in charge - sounds like this character knows better than all the experts what needs to be done to make things work smoothly.

As I said a week or so ago: The rig contractors may have thought they could pressure Mike Buck with the Oil Conference in order to make him accept an unfavorable contract. If that were so it's good for Mike not to have given in. Consequently, he will only be able to confirm "final stages".

I assume you didn't receive response b/c nobody on this board knows the answer. I suggest you submit that query to the ones who must know, i.e. PM and maybe even the regulators who should require the disclosure of respective information.

I support your interest in understanding what you may or may not want to invest in - and I always support every demand for more transparency. However, I also believe that all O&G companies' marketing/communication departments should be required to provide such transparency equally - a requirement which AIM (for example) would need to reinforce.

With regard to PM's upcoming drilling schedule I feel comfortable with the fact that most (or all?) of those drills are "appraisal wells", i.e. drilling locations within 1km of producing wells in China and that PM is no longer in a position to engage in experiments.

I am certainly not the only one who would be interested to receive any additional information.

Ironic: Once the war is fought - everybody seems to feel fit to be the general….would've, could've, should've. At this point today - in hindsight - we all agree that the "best chance drills" should've come first. There are strategic reasons why that didn't happen and today - now that we know the outcome - I admit that I wish PM would've decided otherwise.
But here we are and are facing what I would call a drill programme which is more promising than anything PM has done before - finally!

Mike Buck prefers to communicate when there's actually something to communicate. The last RNS was - from my POV - solely for the purpose to bridge the news-less period until that happens. I have no worries that the next RNS will have substance and I also tend to believe that will happen before the upcoming conference end of March. However, if PM's negotiation counterpart(s) should be using that event to improve their negotiation position I assume Mike won't give in. Good to have Mike Buck on board.

Clearly this trading day could've been better. The "chicken sellers" have dominated the trade session with their sell-off strategy.
In December 2018 and January 2019 quite a few posters predicted a SP drift until PM would confirm the conclusion of the rig contract and the spud date. Well, neither have happened until now. And still the savvy investors seem to have a fairly clear view of what is going to happen within the next few weeks - my guess is by mid May latest.
By then, the investors who believe that PM are capable of striking oil with the scheduled appraisal well drillings will need to join in. Once it's happened it will be too late to part of the real big party.
Potential investors: Pls wait a bit if you choose to join the "small party".

bonum - well said. And what many of us (particularly the LTHs) are thinking but not saying:

IT'S ABOUT TIME!!!!

I wasn't able to see PM's SP move up from 7.8p beginning in Jan '17 to 38p by the end of Feb '17 either - particularly if you look at what is was based on: One single wild cat drill scheduled for July that year - which was claimed to be fully funded. Clearly, the shares in issue at the time were about half of what they are now. Take half of that SP and add the chances of 4 drills against 1 (most of those 4 being appraisal drills) and can easily come up with a (justified) raise in share price which could easily reach at least half of the 38p in Feb 2017.

If just one of those 4 drills hits its target PM will be imprinted on any investor's map for good. Do your investor math.

2.5m buys vs. 0.57m sells!

Until now it seems to be a bad trading day for hoofhated and route1 - oh well, taking the wrong exit happens from time to time!

are jumping in again and taking charge at this sp level. It's probably safe to assume that (even) the market considers this sp to be cheap considering what PM's drill schedule (beginning in just a few weeks) looks like. Currently buyer volume to sell volume ratio = more than 2:1.

I wonder what the buyer to seller ratio will look like once drill contract and spud date is confirmed.

Considering the low trading volume on both sides (buys/sells) the sp decline has hardly any significance. Those few sellers are nervous about possibly losing out on their 10-20% gain. And the potential buyers are waiting on the sidelines for the expected rig and spud date news.
Nothing to worry about from my POV.

From my - as usual - modest POV I would consider this spread-percentage to be intransparent if not to say manipulative. I can't help thinking there's something in the doing here (which is in the interest of PM investors).
ATB