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This is the lowest the SP has been for 2 years so I think it is time for a rise ! The SP may well stay this low till the Update RNS on the 18th but hopefully that will give us the kick to start a new rising SP

GL all

Bear13 I agree completely - good news today from the far East SMs rising well and a big article in the daily Torygraph Business News - back page - all in praise of PMO and its excellent prospects over the next 4 years.

For those who want instant profits (or losses) you could try day trading PMO or gambling on the AIM listed companies. But for those who are prepared to wait till 2022 the broker forecasts a possible return to £3 to £5 per shares - after Tolmount gas is in production and Zama oil is pouring extra income into the PMO coffers.

Unlike most of the AIM oil and gas companies PMO has PROVEN reserves of massive oil and gas deposits which only need drilling into (like Catcher) to produce spectacular profits.

I never liked the concept of Solan (naturally fractured sea bed suitable for production of huge quantities of oil and gas) but Solan 1 is still producing about 6K barrels a day - where UKOG thinks 2K is a fantastic success ! Strange world in business and finance !

Will we see once again the early rise then slump then rise again PM of our share price or will it surprise us all by opening high then producing another 10% rise on the day ?

Quien sabe senor - dios solamente (Who knows sir - only God !)

Regards

ROS1 - your old man was very wise - the vast majority of PIs and not a few IIs lose very large amounts of hard earned cash - I have always said that the worst thing to happen to a new investor is that he stumbles into a share that rockets in value - he then bets recklessly trying to replicate his dream share ! If we were all like your old man and lost heavily initially on first investment we would all be sadder but much wiser and out of this casino - having said that I must admit to some spectacular gains on companies like RKH and last year UKOG where I made £60K profit in a very short time - gave a lot to charity and my daughter and kept £30k for gambling stake money - if I get below £30K I will sell most and bank it

Gotta know when to hold em and know when to fold em !!!

Regards

valveamp - mystery solved - last year Q2 report was on 12 July this year is on 18 July - at 0700 hrs. I hope it will be a good report and they have sorted out Arcata mine which is letting the side down at the mo. Inmaculada mine however is going like a tank - exceeding all forecasts - the "Flagship of HOC" Pallancata mine doing well and San Jose in Argentina now fully back on line.

Regards

valveamp - I was expecting a Q2 update RNS today - is it due ? Just bought another £19K of HOC - MUST be due for a rise in SP soon !

Regards

ROS1 - an impossible dilemma - perhaps they should say "Based on an average $74 per barrel" - then adjust as required ! Forecasts for future POO range from $60 to $120 - so no one knows. Iraq Syria and Libya oil are all at risk as well as Iran and the Persian Gulf countries - if Iran blocks the Straits of Hormuz choke point. What a world of turmoil we live in with Trump as a Black Widow spider sitting at the centre of the turmoil web.

All we can do is stake our money and make our bets then bank the winnings

Messieurs at Madames fait Vos Jeu !!!

Bon chance !

Despite his closest advisers advising against it Donald Trump now has a new slogan --- "Trump Will Always Triumph"

Trumpton says "I see no reason not to use it !"

ROS1 - H1 2018 was always going to be a mare`s nest as the BOD wrote off losses and balanced the books prior to H2 becoming more of a "clean" balance sheet. I think that a loss on Solan was written in and of course the loss of 50% of the original production forecast. The BOD is still sticking to its 3 times EBITDA end 2018 and 2.5 times EBITDA for end Q1 2019 - which the lenders are happy with. I am happy with the way the business and financial plan is now going forward - 2017 was the crunch year - but now the BOD and IIs and lenders are all pulling on the same end of the rope we must trust that the other end is not a noose around the PMO neck - LOL

Yet again - if investors had lost faith and sold at 122p today they would have missed the recovery to130p

Regards

Other factors to consider - Any "Big Boy" looking at buying out PMO would be put off by taking on $2.6 billion debt. Also - financiers are very happy to be getting 7% interest on our debt pile - if we pay it off quick they would have problems getting the same return elsewhere - the finance world is awash with many billions of cash looking for a home - witness the huge sums being paid for mergers and acquisitions. So our debt pile is protecting us at the mo from a hostile takeover before our valuable projects like Tolmount and Zama come on line.

Solan2 should be capped and abandoned IMO - losses can be offset against tax due to Mr Hammond.

Good recovery - as expected - on the SP so far and hopefully this PM will go higher - another +9% day would be great.

Regards all

ROS1 - my other favourite share is Hochschild (HOC) They have paid down debt to almost zero and being a gold and silver miner whose SP was at 335p last year you would expect a much bigger SP if debt was so important to the market - instead HOC SP stands at just 178p today despite excellent and increasing production of gold and silver - crazy world is it not ?

Regards

GTLD - I am glad I had some spare cash today to buy more at 123p - 100% of brokers on PMO desk giving "Strong Buy" recommendation.

Now that the update is published I expect the SP to go back up to over 135p very soon - but future rises will depend on Trumpmania and Mayday collapsing BREXIT scenery - LOL Longer term view on SP is IMO excellent.

BREXIT - Luxembourg says it will make lots of cash from the UK BREXIT - good - then they will not be lining up for compensation from Mayday`s slush fund - I can but dream !

Regards.

ROS1 - a complicated picture but as the RNS said - some facilities were closed down for maintenance and cash from disposals has not been received yet - also mega spend went into Catcher in H1 which will not be a factor in H2 - in addition PMO has hedged 40% of its output at $58 so no benefit above $58 on that 40% even if POO is at $80 - benefit on only the remaining 60%. The BOD is building strong foundations for the future and we only pay 7% on our debts. The BOD will also be looking to future income from Tolmount in 2020 (already funded) and Zama in 2022 (already funded so far for exploration and development of known world class asset) I still think we will hit 180p++ by Xmas - but not if idiot Trump keeps hitting world commerce with his brainless isolationist policies - it used to be Janet Yellen who kept snatching defeat from the jaws of victory with her crass statements - but Adolf Trump is 10 times worse than Yellen.

The major forces in the SP valuations are fear and greed - at the mo world markets are in the grip of fear - especially the commodities companies - all we can do is sit at the back of the lifeboat and go up and down with the waves

Pokerchips - the 3rd Reich Propaganda Minister said - "If you wish to persuade the people to a particular course of action you must tell very big lies then suppress all access they have to the truth - so the only thing they can believe in is your propaganda ! " This is happening a lot now in this country with the politically correct and positive discrimination propaganda from our govt and the media. The majority of people in our country no longer dare to speak out at all and the aggressive minorities now run the country.

ref BREXIT - "give me Liberty or give me death" is my favourite slogan and "I may not agree with what you say but I will defend to the death your right to say it !"

ref HOC - our SP is part of the big picture malaise at the moment but eventually the worm will turn - in the past we have gone from 165p - I was lucky to buy in at that SP - to 335p - I sold at about 300p - so IMO we will have a floor of 160p then a rise back up to the 300 levels again

Regards and GL to all with your own plans - I bought £5K of HOC at 178p - may go a bit lower but is soon due for a rise IMO when I will buy a lot more shares

FI and Sea Lion ARE mentioned in the RNS as an ongoing project.

Good news from the Far East markets - they are well up today bouncing back from Adolf Trump`s trade war threats. And the POO has gone back up - pushing at $75 - a value that would have seemed impossible to most early in the year.

How will the market mafia treat our SP this AM ? Probably the usual up at open then down then up this afternoon. But IMO our BOD is keeping all its promises on longer term - up to 2022 - debt reduction and also progressing the known success stories of Tolmount gas and Zama oil. No mention of FI Sea Lion so I think it will be kicked into the long grass unless the BOD can sign up a "Big Boy" to provide its own funding for developing the known massive FI oil fields - and also if our new Foreign Secretary can secure a good deal with Argentina to lift all sanctions on FI development

Probably another roller coaster ride again over the next few weeks but PMO has been consistently in the blue overall for the last 2 years so for LTH IMO this is a good one to hold onto

Regards all and GL today

Jeffrey - I bought my first PMO shares very low and have been trading the dips for a few years now - and have made good profits - but I think that the SP is at its highest level for now - if we get an excellent RNS then tomorrow the SP should rise well - but I still say that longer term - up the end 2022 PMO will go from strength to strength - so best hold onto the shares and see what Santa brings at Xmas each year - if you had lost faith and sold today at 127p you would be down 5%. The SP does this on a daily basis - up at open then down then across and up PM. All IMOO
- but watch and see !

regards and GL

ROS1 - do not knock the bear we need him to POO in the forest !

Hyds is a clever guy - he can get a bear and a ferret to laugh !!!

In the blue - just a reminder - if you had held onto your shares and not day traded you would be in profit : -

One week 10%
One month 20%
Three months 70%
Six months 34%
One year 182%
Two years 98%

if you were clever (and lucky) on day trading you could have made a lot more !!

So what is not to like ?

Regards all - fingers crossed for England win tonight and excellent RNS tomorrow

Pokerchips - well said ! I am 72 years young and have been an avid reader of all sorts of history since the age of 9 - the most important thing I have learned is that we should not judge historical happenings by modern standards. Always look at what other countries were doing and what were the accepted standards at that time. And remember that most history is written - or rewritten - by the winning side The problem today is that the terrorists (a name that came down to us from the extremist Jacobins in the French Revolution who committed horrendous crimes on their own people in the name of "Liberte Fraternite and Egalite") are now attacking France once again - but not home grown terrorists this time!

Regards