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Hi all, short term holder first time on here poster. I'm hoping I can pick the brains of the long term holders. I've looked at lots of posts here about the current situation, and news reports, RNS on developments etc for the last 2 - 3 months, bit there's a lot to wade through. Looking a long way back, the SP was humongous compared to today. I can't find much in the way of news reports from that time, so long holders, what changed? And was that 'valuation' based on anything that is relevant now? Appreciate any information!! Cheers.
J/A/B:
I'm surprised you would be interested in any information provided to you on this board by a poster who claims it to be relevant to the "valuation" or anything else.
Good luck with that query. DYOR
@Ojay, well I'm not so naive that I think I will get loads of good information, there will be the usual rampers, de-rampers, Trolls, time wasters, disupters, 'experts' suffering from the Dunning Kruger effect, and people who post mainly to make themselves look good or feel superior. But within that, I might get some information that is relevant and helpful, will see.
Have a look at this link, gives you a bit of an idea:-
* Exciting times for pretty much all junior explorer type companies in 2011 with alot gaining big market valuations.
*MATD only had just over 100million shares a decade ago, now not far from 1 billion.
*That said, if this company does begin to produce then confidence will begin to increase here, and the money made can go towards new wells without the dilution it has been accustomed too. Not far from a tipping point here? Atb
https://www.proactiveinvestors.co.uk/companies/news/22864/petro-matad-starts-to-make-significant-waves-27263.html
PS.... From posters who have some experience and wish to share it €:)
Thanks sj74, I will have a look at that. I did wonder why there where so many shares!
J/A/B: Well in that case good luck with your dissection and evaluation of the information you get - hope you know what is relevant and helpful to you.
As I said and as you (should) know: You need to do your own research.
@Ojay. Appreciate your concern, I'm not diving in deep here but it's still my money!
So will be looking at it with interest.
https://www.investegate.co.uk/petro-matad-ltd--matd-/rns/final-results/201106210700067485I/
// there will be the usual rampers, de-rampers, Trolls, time wasters, disupters, 'experts' suffering from the Dunning Kruger effect, and people who post mainly to make themselves look good //
Only 2 types om here mate - the rampers & the evil dead!
@jimthebrush. Thanks also €:)
J.A.B
Quick summary from memory. Doug McCaig, CEO in 2011 had skill in writing RNS’s releases which whipped shareholders into a frenzy but turns out he wasn’t very good at finding oil. He drilled block XX in the wrong place. Our current CEO Mike Buck has however drilled in the correct place in block XX and found oil. Estimated recoverable of circa 60million barrels. Local access permits and covid border restrictions have delayed planned exploitation of area.
Extensive surveying of blocks IV and V provided Matd with estimates of between 9billion and 23 billion barrels of oil.
Drilling in block IV proved unsuccessful. The exploration licence for block IV has been handed back.
Block V has proven oil and planned drilling of the Velociraptor area has also been delayed due to covid border restrictions.
There is huge potential here, you’ll just need a lot, and I mean a lot of patience.
That’s why a lot of us continue to be invested.
Good luck, whatever you decide.
D1nger and everyone who took the time to reply, really appreciate it, and I'm currently looking at the environmental protesters 0_0 Have a good Monday!
Been a ton of dilution since then, share releases to raise capital ect, just before covid it was a decent rare ahead of news of the oil find, then in dropped away as covid delays and license worries caused a lack of faith, dragged it heels alot since then with occasional peak when news of another step being completed came out, much the same now, just waiting for stuff to happen as it seems nothing happens quick there.... Season ends soon so it's likely at this point they won't be in production till next year imo, we shall see
Decent rate**
SYFreshPrince Thanks, I'm not a trader so don't mind a long delay on a potential decent share, I've no idea how some people put tens of thousands on a share till lunchtime €:D Thanks for the info!
i see BLOE are up 30% just on announcement of commencing drilling... cant wait to see what we go up when are production figures soar.
I must admit I got into this like... 3 years ago now before the find, thinking it'd be a few month flip as my first ever investment, it's been a learning curve having to be patient and not jumping out, I've only got 250k shares that have cost me about £10k so I'm not exactly a big player