Meridian Petroleum PLC : Onwards into 2007/2008

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Investorjon - Fri, 15 Dec 06 :

Hellis: it wasn't my language though, it was just a sample of Novice's!

Union: I know of BOPD, yes.

I just find it very difficult to believe a poster suggesting they were long, losing bundles and yet from their posts containing some quite vitriolic posts, suggests voluntarily they have renewed contracts at various intervals (albeit contradicting earlier post of December spread).

You would have thought that if someone felt so vitriolic that they would have sold, rather than keep up posting vitriol (but only when the sp is going down) and where posting could hardly be helping. In that event you must ask yourself why would someone want to keep or renew that position if they felt so vehemently against the company!

AIM stocks are higher risk, and hopefully higher reward, something Novice, aka Mike, aka Kevin was told at the outset, be HE decided to press the button, no one else and if he found out he did not believe TM why renew, why take out more positions!

No one should invest more than they can afford to lose, and if you do lose, you shouldn't bleat and blame the whole world except for the person staring at you in the mirror.

You could say you were misled once or didn't believe someone, but then if you continue to buy after that, then you can hardly keep on about it, and revisiting posts that he originally claimed were incorrect, reposting those same items as facts, seems pointless in the extreme.

Of course PI's are frustrated that 36-1 isn't on line, but we don't all cry foul and use foul language when the sp dips. It helps no one.

When I suggested to other that I believed they were wrong when they were stating 36 was already hooked up with flow testing, it wa something some didn't want to hear, but my opinion, and likewise when i suggested that work does not correlate to time, as perforation, for example, may be undertaken by outsourcing, some didn't want to believe it, but that is IMHO the most likely legitimate reason why 36 is not hooked up, as we were told a slotted liiner would be put in and set, followed by perforating. Kit and personnel are tough to get hold of, as other oilies demonstrate.

And you cant say 'oh well it should have been booked' because unless TM or anyone knew in advance EXACTLY when the liner would be fitted, cemented and set, you could hardly organise the next step, as paying for a crew to come in with nothing to work on, would not go down too well with investors either. So TM would have to wait until he knew with reasonable certainty when one step was defintely going to complete for another to be sorted.

I see comments saying all this is done in advance, but that simply is not the real world for minnows. That's like asking yourself to give me next week's lottery winning numbers in advance.

Like many jobs in oil and gas, you only know the actual time of a job after its been completed, before that it's in the lap of the gods, exactly as it is with any other job in building or contracting, where the unexpected often happensm and why so many projects are delayed in various industries (ask the builder of Wembley Stadium).

Its infuriating, but any RNS can only give the information as it is known to be or expected to be at the time it is given.

I'm still waiting for even ONE poster to come back to me, to tell me what benefit there would have been for TM to say hookup was going to be 'imminent' if he knew otherwise, as some posters suggest. It was more embarrassing for him than anyone. Having to announce flow enhancements instead of a hook up can hardly have been that much fun for him! He hasn't sold shares, so didn't offload and still owns 30%+ as far as records seem to indicate.

Annoying as it may be, but we need to be patient.


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