The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
A few years ago I'd have agreed with you. A comedy of errors later & I'm not so sure. I don't wish PL any ill, however I think even he'd have to admit that he's not covered himself in glory at PPC. IEC was a long time ago & amidst a booming oil sector. Very different kettle of fish now. Us long term holders need a miracle to see any sort of return on this now.
Been telling myself that since 60p...
This is President, remember. They'll probably get a contractor that will build it out of plastic that will melt in the sun. They'll then end up taking them to court and shareholders will be left in the dark for years until its just forgotten about.
Many thanks, Workover. About as bullish as you could hope for in the circumstances!
Think I jinxed this with my post about the company turning a corner when they announced they were reducing debt.
Think I'll lock these away in the bottom drawer & hope that Paraguay comes off. Failing that I think this could be a long road to recovery.
Having lost my shirt on this bl00dy company I'm loathe to stump up £5.99 to read the full article, however if anyone can is able to copy & paste it here I'd be grateful. Would be nice to read something positive & give me a glimmer of hope of at least seeing some of my money back. I averaged down my price heavily around 8p bringing my overall average to 17p. Could be one for the grandkids at this rate...
The SP here was much higher before Macro came to power. Ppc haven't fared well whilst he's been in power, why should it be any worse if he's not reelected?
Be fearful when others are greedy, be greedy when others are fearful...
I've been a bit bearish on this board in the past (and been criticised for it), however it's starting to feel as though we're turning the corner at long last. I've not sold a single share in about 9 years now & have averaged down more than I'd like to admit.
A bit more clarity on current production would be nice, however the outlook for the next 12 months is certainly looking more positive and I'm glad debt is being addressed.
Other things that have gone a bit quiet...
Do we know the current situation on the pumps at Puesto Guardian?
Looks as though we'll be going it alone in Paraguay - slightly concerning that no one has looked at the data and felt it was worth a JV.
Court case re failed drill in Paraguay. Any update on this would be welcome assuming its positive.
Dail Mail - the last buy recommendation article caused a bigger rally in the SP than any RNS. A follow-up would be nice!
I agree, I think the impact of another failed drill in Paraguay on sentiment alone would hurt the share price. I wouldn’t mind leaving it on the back burner for another 12 months - I quite like the stress-free nature of workovers & would be happy to see the SP hopefully double from here so I can pull out most of my original investment & have a free ride on the Paraguay drill.
Haha, so the D stands for Derek!? This time next year I’d settle for 30p per share which wouldn’t make me a millionaire, however it might buy me a few Capri Ghia’s! Things are certainly coming together & if we get some sustained buying pressure then the share price should take off given the small free float. Been here too long to get too excited, but you never know....
If we can hold this level until more news that will be key. Need to break the pattern of the SP going up on positive news, losing all gains & more over the period of no news, then going up a bit on more when the next update is released. This has been the frustration of late.
I agree. The days of 80-100p were before the dilution & at a time when value was placed on potential. Now there’s no speculative premium on sale oilies, it’s a completely different ball game. 15-20p in the next 6-12 months would do me. At 20p I’ll sell my original investment (£ wise) & have a free ride on the remaining holding. Well that’s the plan...
This is more like it. Got a good gut feeling for the next couple of months...
It’s ridiculous, right?? Or are we missing something??
I didn’t think we’d see these prices ever again. Not sure whether this is a glaring opportunity or if I’m just going to be throwing more money at a share I’m already overweight in?! PL must be livid. If I were him I’d be taking the company private. We’re on a hiding to nothing with this market.
I’m getting the impression there’s also not much hope of winning the lawsuit (or at least getting any significant compensation) against the Paraguay drilling contractor? It’s all gone a bit quiet. With that in mind I’d say that $10m is a punt worth taking - in for a penny...
If PL wants to give me 15p for my shares I’ll take it. If he’d offered me that price a few months ago I’d have dismissed it. Yet here we are with a healthier company & the share price is depressed & showing no signs of life. No positive news seems to be able to offset the negative backdrop in Argentina & the stigma of the drilling failures & general bad luck in the past. I’m almost out of patience but will sit tight til the New Year in case we get a Xmas miracle!
Despite all the positive production news & Directors being bullish you get the overwhelming feeling we’re peeing into the wind here in terms of seeing any reflection in the share price. If I’m frustrated god knows how PL must feel!!??
I would have liked to attend, however work commitments elsewhere mean I can’t. I’d really like someone to ask some difficult questions of PL, particularly around his bold statements in the Malcy interview last year as he’s already had to back-track on drilling Paraguay, no acquisitions have been forthcoming & PG pumps still aren’t online. I can’t recall the figures (I took them with a large pinch of salt!) but he talked about EBITDA of £x by this year end & being a mid cap producer etc. Does he regret making these statements? Does he fear that he’s lost credibility with the market (the share price would reflect that!)? What happened to his mantra of under promising & over delivering?! I’d massively respect anyone that held him to account on these points as he seems to get an easy ride in all the interviews I’ve seen.
Another update that raises more questions than it answers. Starting to lose a bit of faith now. I think the share price reflects the fact that none of the key potential drivers for a rise have been adddressed. Yet more woolly statements & “jam tomorrow” promises.
Totally empathise with these comments & can’t help but agree. I do think the second half of the year could be a turning point though. I’ll be out by mid 2019 though regardless as I need the money for other things, hoping to be 20-30p by that point though. Time for PL to deliver on some of his promises/comments that I now fear he’ll be regretting making - if he doesn’t then his reputation will be in the gutter & the City will pay even less attention to him than they do now (bar Malcy!).