Member Info for Ojay

Although we the Investors and Posters respresent the market we're all Scratching our heads and can't figure out WHAT THE HECK IS GOING ON with PM's SP.
The current Situation clearly caught all of us - regardless from which end of the spectrum - off guard. Nobody's ever seen this before.
Look's like there's nothing left to do than to buy at these levels and wait for the oil strike.

The panicers are creating great buying opportunities - I hope the market realizes that!

then PANIC!

Terryali: Thx for your post - looks like we're pretty much on the same page. Clearly, we'd all like to see some progress with the sp after such a long time. But giving up at these sp levels is simply no option. I've always said that this is a "holding operation"; no doubt most people never understood what I meant by that - doesn't matter as long as I know.
Once PM finally succeeds to get that black gold out of the ground we will talk person to person and not via this board. Looking forward to that!

Paul60: Always good to hear from you. We're doing fine - enjoying the warm/hot weather in Crete in a rented house.
Hope you and yours are doing fine as well!
ATB

Since Jan/Feb 2010.

At the time I kicked my PM investment career off with a "junior" share purchase of about 20,000 @around 70p (and didn't bail out @£2.10!). Instead I kept buying small amounts during the decrease until July 2016 when I started cranking up the volume of my holding substantially. I therefore believe I qualify as a LTH.

SBB1: What has changed? All that you mention and much more which (normally) attracts hoards of traders/investors but also triggers upward sp movement. Last year's sp rise to 38p was solely based on the hope that ONE single drill would be executed without confirmation of spud let alone funding!
This year everything Looks so much better - the only puzzle piece missing is the oil strike. Last year a dozen or more puzzle pieces were missing.
The current SP is absolutely and ridiculously low - much too low. I would even say that new investors buying in at these prices don't deserve the opportunity because they have not been thru what the LTHs have for 8+ years.

SM123: If you haven't derisked yet - why would you make pre-announcements?

If you have derisked this morning: I only see 151,700 on the sell side up to now.- in that case you weren't seriously invested here.

So what shall it be? +0.29%? Don't get it! Level 2 Share Data shows the same. But the data grid displays a very clear red ending to today's session.

Clearly this doesn't really matter in the long run but I like to bug those LSE guys for providing misleading information.

Mr. P: You've transformed into an extremely conservative poster when it comes to the sp development (even if it's directly linked to striking oil!). But I understand - let me take that part for just once:

1. I would be outrageously disappointed with a sp of 40p if PM strikes oil with both SL and WH.
s
2. A strike with the SL drill alone should unleash the market's buying hunger and driven by the phantasy the SP's development justifiably deserves.

3. PM's sp reached 38p end of Febr. 2017 on HOPES for 1 drill alone and was only stopped by the announcement of the Bergen deal. There was no oil in sight by a long shot at the time.

4. Conclusion: If PM should strike (commercial) oil with its first 2 drills then any sp below £1.5 would be a steal.

Many thanks for your positive outlook and the repeated criticism of PM's management. We wouldn't have noticed what is going on with the sp otherwise.

Difficult not to see that another one of our resident posters is losing his nerves in the current situation.
S/M: I recommend you bail out now and not wait for the fire sale which has been forecasted by some other posters.
GL

Cormie: How the hell were you able to buy 10K @1.8p on August 5, 2010? The sp was no where close to that level at the time? Man, I always thought I did the right thing in July / August 2016 whe the sp reached historical lows at around 1.9p.
Whatever your situation is: The best of luck to you. And: we will meet again in multimillionaires land!

Actually I admire F/R's knowledge of the AIM market mechanics as well as his knowledge concerning PM.

However, in a scenario like the one we are currently facing (which is admittedly unexpected) it appears that he just can't shake the short term investor attitude and strategy. Applying the short term investor measures in respective situations may very well end in a disaster - simply because they don't work in all situations.

I for one am very happy to be a LTH. We've got the patience and time to wait until it's time to strike. And for me there's no question: That time will arrive.

Good luck to all!

Well thank God there are still some investors out there who've got their heads screwed on right. Pitching in at these prices makes a lot more sense than selling!

as I've pointed out many times recently.

As for the buyers' side: Can anyone tell me why the "big buyers" would actually spend £100K (for 1Mio+ shares) if they hadn't any clue as to how PM's drilling program is proceeding? Not even I am that daring.

Clearly, speculation is currently king here - but it does make me wonder.

scary ride. I know: My expectations were quite different as well. But I will not let this get me down. It's temporary and as a LTH I will see this thru just like all the other negatives we've all had to experience during all those years (particularly during the last months).

As it seems this has turned out to be more of a marathon than a short distance dash. But don't let it get to you - we are getting there!
To your success!

incorrect. We're about even - maybe even more buys - at this time.

Let's hope so!

Talking about the 3% threshold: If and as long as Bergen needs to get rid of up to 2.9% there are still double digit millions of shares around.

I always said that a fire sale by Dr. O was hardly realistic.
Bergen's sale of "leftovers from yesterday" could actually make sense. Wherever those millions of shares are coming from: None of us investors currently consider their sale as beneficial.