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What a start to the day, looks like I'm locked into MTA for a while. Seriously disappointing, more with the tone of the RNS than anything. No silver lining this time, no upside. Just doom doom doom, at such a sensitive time in the markets.

In retrospect the signs were there, Macquerie selling holdings etc.. The price of being hopeful however was a bit steep this time round. Bummer.
 
Ranger07 said:
I wasnt holding but I've bought in now, this drop is an over reaction.
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Not a bad move. The RNS wasn't particularly terrible news, it just evidently wasn't as positive as the markets had priced expectations in at. I too expect somewhat of a recovery.
 
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May 26 (Reuters) - British oil and gas explorer Matra Petroleum said it would suspend its appraisal well-13 in Russia due to poor quality of the reservoir, sending its shares down 47.7 percent.

"These initial results from well-13 and poorer reservoir quality will impact our in-house pre-drill resources estimates," Managing Director Peter Hind said in a statement.

Matra Petroleum (LSE: MTA.L - news) said an analysis of the test data showed formation damage that could be removed by acidizing, which may allow higher production rates, it said.

Shares of Matra Petroleum were down 47.7 percent at 2.6 pence at 0809 GMT on Wednesday on the London Stock Exchange (LSE: LSE.L - news) . (Reporting by Anirban Sen in Bangalore; Editing by Vinu Pilakkott)
 
Bleek said:
Are you guys buying and holding stocks in this climate, can't you see that big grizzly thing looming over you?
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I'm holding stock for long term, 4 holdings currently showing +50%, +49%, -20% and -2%

If markets go down, I'm not that bothered as it's long term holdings for me, not short term trading.
 
Bleek said:
Are you guys buying and holding stocks in this climate, can't you see that big grizzly thing looming over you?
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The problem for those of a bearish disposition is that the financial world absolutely needs stock prices to be higher. So even if financial common sense says this is all froth sponsored by unprecidented national deficit spending globally, common sense does not drive markets.

That's why it's particularly dangerous for retail investors at the moment. What's the phrase? “The market can stay irrational longer than you can stay solvent.”

Andrew McP
 
Knew there was a reason I didn't like MTA ;)
Bleek said:
Are you guys buying and holding stocks in this climate, can't you see that big grizzly thing looming over you?
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AIM is totally different to FTSE - high risk developing companies, much more fun - and /reasonably/ immune to the wider climate.

Have sold all my FTSE holdings to pick up some more at a later date after the current rubbish has cleared.

Have RKH graph open on one screen, mmmmm it's relentless :)
 
Expected it, and I'm expecting a lot lower before we bottom out. In fact I think this'll free fall until they announce a new seismic company, or steps they're taking to acidise the well.

As someone said on III, stick this one in a drawer until 2011...
 
randal24 said:
Expected it, and I'm expecting a lot lower before we bottom out. In fact I think this'll free fall until they announce a new seismic company, or steps they're taking to acidise the well.

As someone said on III, stick this one in a drawer until 2011...
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Yeah, i'm only going to look at it again towards the end of 2010 nov-dec time
 
gord said:
Good to hear mate. I'm still 100% out, starting to get the usual itchy clicker finger with all that cash not doing anything... :(
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Yep I could not hold my self back I have bought a lot more XTA, Im still holding RKH, DES and Yell.

Quite a scary prospect that I have invested almost every penny I have to my name lol
 
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