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Hi GC. Enjoy reading your posts. What are your expectations on...

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JWB1985

4,018 Posts.

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21/11/14

20:24

Post #: 14333129
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Originally posted by GoldenCross ↑

Hmmm Fouzia, I wouldn't really call this manipulation... You will rarely find a company listed on the ASX that trades for a 1:1 cash backing (especially in the O&G exploration area). We are enormously lucky to be in the cash position that we are now and you wouldn't find many companies (in this industry) offering the same opportunities... Use a chance like this to get in rather than doing the opposite and getting out. Money is to be made when sentiment towards a company changes because by then it is probably too late.

I think that there isn't any manipulation in the SP as such (although it is being sold down heavily at the 1c level by the RBS Morgan crew) but rather the institutions that have the largest holding in the company by far aren't necessarily the type of people that are invested in a company for the long haul... I dont think anyone knows what Paterson's intentions are but for them to have taken such a large holding would mean that they're not interested in a quick profit of 20-50% but rather they can see the company turning itself around in the not so distant future. I havent been involved in a company before where they have done a similar thing but it would be interested to put the question out there of whether other people have? Paterson's unclear intentions is, in my impression, what is currently acting as a dark cloud over the SP, as well as the weakening price of oil.

PYM would be off most peoples' radar at the moment until they release their flow rates and reaffirm the schedule for the next set of drills. As shareholders, we aren't so interested in getting ST traders onto the register (although everyone would be happier if the SP was @ 1.5c+) but rather some small cap insto's that are interested in the turnaround story... Once they snap up the selling volume and reduce it to a trickle, the SP will start accelerating quite fast. Dont forget that there would be a number of shareholders that have initial entry prices with PYM of 10 cents plus that are also itching to see some successful drills.

As an investor you should not worry too much about the daily trading fluctuations but rather new information that affects the valuation of the company... Over the last week or more, nothing materially impacting has been released to the market. If management somehow manage to screw up all three of these drills (which are much simpler) then I will have also given up hope and would need to start exiting my position regardless of their cash position, however you may be sitting on a paper loss of 20-30% but what do you expect when holding a O&G exploration penny stock?

All I can say is be patient and don't be shaken out by a sale of only a few thousand dollars worth of stock. There are some large retail holders (like myself) of this stock, that also use this forum, who experience fluctuations of tens of thousands of dollars every time the SP fluctuates. Wait for material information to become available before making any important trading decisions...

GC

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Hi GC. Enjoy reading your posts. What are your expectations on the total flow rates across the three wells and say, mid December SP?

PYM Price at posting: 0.8¢ Sentiment: Buy Disclosure: Held
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