delay, page-34

Surprising lack of discussion here! I agree that this first well might seem worse than expected because some of the initial pressure will now have been exhausted, meaning we never get an impressive first reading. Of course, I am trained as a geneticist and zoologist with a dash of physics rather than as a geologist, so my speculation means fairly little! I suspect that the ultimate volume of oil from this well won't be significantly affected by the delay, but it will fail to impress in the short term. Still, it should be good enough to raise the share price a little.

I'm not too fussed; if the share price flounders for long enough I'll be able to top up before the train leaves the station (sorry to use such a worn out expression - but I could have said "before someone puts a match under this rocket" ;) ). People are extremely fearful, so this delay and apparent poor result from the first well will really leave us sitting undervalued until three or four wells are producing good results and convincing people we do have a decent resource. I wasn't planning to sell any time in the next six months anyway, and quite likely it will be years rather than months, so whatever gives me time to buy more cheaply is fine :)

Even with the situation as it is, I think you'll get excellent returns if you buy before the next announcement, which should be out this week. Of course, the only people watching this thread are probably the ones who already agree with me! Oh well, in a few months time there should be more people paying attention to PYM :)