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matra (MTA)
ateeq180 - 21 Apr 2006 11:06
Has any one noticed this this morning a lot of buying with just one sell Ttrade,any one think this could be a good punt,advice please before its too late.thanks.
shadow - 21 Apr 2006 12:51 - 2 of 436
yes i do only 200.000 shares available, the company staff owns the rest! buy buy buy........
capetown
- 24 Apr 2006 09:32
- 3 of 436
THIS is going up,HEAVY buys,SHADOW do you know if news is imminent
capetown
- 24 Apr 2006 09:38
- 4 of 436
RNS update just released
Guess all the aunties and uncles have been buying in anticipation!!,
Lets see if some big buys come in now
Guess all the aunties and uncles have been buying in anticipation!!,
Lets see if some big buys come in now
ellio - 26 Apr 2006 09:56 - 5 of 436
Lets see if they hit the jackpot, could be explosive if they do!!
ellio - 02 May 2006 11:53 - 6 of 436
Oh shit, not good?? maybe they'll find something a bit deeper, hope so!!
hlyeo98 - 02 May 2006 19:44 - 7 of 436
Matra Petroleum PLC
02 May 2006
PRESS RELEASE
For immediate release: 2nd May 2006
Matra Petroleum plc
Matra Petroleum updates progress on Blue Topaz-9
As of May 1st the drilling of Blue Topaz-9 had reached 1668m and has penetrated
the first objective of the Lower Pannonian and Miocene formations. Despite
encountering substantial sections of sandstone no significant indications of
hydrocarbons were observed.
Drilling is continuing to the second objective in the Triassic carbonates. This
objective is an independently mapped structure anticipated below 1900m.
02 May 2006
PRESS RELEASE
For immediate release: 2nd May 2006
Matra Petroleum plc
Matra Petroleum updates progress on Blue Topaz-9
As of May 1st the drilling of Blue Topaz-9 had reached 1668m and has penetrated
the first objective of the Lower Pannonian and Miocene formations. Despite
encountering substantial sections of sandstone no significant indications of
hydrocarbons were observed.
Drilling is continuing to the second objective in the Triassic carbonates. This
objective is an independently mapped structure anticipated below 1900m.
hlyeo98 - 02 May 2006 19:46 - 8 of 436
soul traders
- 03 May 2006 12:47
- 9 of 436
Do these guys have any other prospects apart from the rest of Blue Topaz-9?
soul traders
- 03 May 2006 12:52
- 10 of 436
PS - they have warrants available over AIM as well (I'm on a bit of a warrant kick at the mo).
80,000,000 warrants, exercisable at #0.065 on or before 31 January 2009.
Currently MTAW Bid: 2p Offer: 3.5p
80,000,000 warrants, exercisable at #0.065 on or before 31 January 2009.
Currently MTAW Bid: 2p Offer: 3.5p
ellio - 03 May 2006 14:42 - 11 of 436
Blue topaz was highly speculative but based on good data apparently!! the overall concession that Inke of which matra are now the owner is quite large, 2,297km2 and they have lot of 3d seismic and previous exploratory data of which some are proven but previously uneconomical.
Blue topaz gas discovery is dissapointing but there's plenty to go after yet, don't panic, although blue topaz gas discovery is dissapointing, maybe they'll hit the oil, something has raised the stakes to go after it, so suspect the oil will be discovered, then we'll be motoring!! no doubt we'll no within a week
Blue topaz gas discovery is dissapointing but there's plenty to go after yet, don't panic, although blue topaz gas discovery is dissapointing, maybe they'll hit the oil, something has raised the stakes to go after it, so suspect the oil will be discovered, then we'll be motoring!! no doubt we'll no within a week
soul traders
- 03 May 2006 14:52
- 12 of 436
Hello there Ellio! I'm not panicking (yet) as I haven't bought this one (yet!). Got many irons in the fire already with VOG, BLR, NOP and the rest. I've added this one to my watchers though.
BTW I have been meaning to draw to your attention EOG, in particular its warrants, which look like a safe multi-bagger. Info's on the thread, feedback welcomed as ever.
BTW I have been meaning to draw to your attention EOG, in particular its warrants, which look like a safe multi-bagger. Info's on the thread, feedback welcomed as ever.
ellio - 04 May 2006 09:09 - 13 of 436
ST , thanks will take a look, warrants as well!
ellio - 10 May 2006 12:21 - 14 of 436
Cheap at these levels, announcement imminent
ellio - 11 May 2006 17:07 - 15 of 436
Wonder if they've found what they are looking for?
If they have then in the chairmans words could cause a major revaluation of the company, keep it on your watch list if the news is good! I hope so as after the initial dissapointment my nerve nerly gave in. expecting 20p+ in no time on the back of some level of hydrocarbons
If they have then in the chairmans words could cause a major revaluation of the company, keep it on your watch list if the news is good! I hope so as after the initial dissapointment my nerve nerly gave in. expecting 20p+ in no time on the back of some level of hydrocarbons
diydave - 11 Jul 2006 21:02 - 16 of 436
soul traders - 03 May 2006 12:47 - 9 of 15
Do these guys have any other prospects apart from the rest of Blue Topaz-9?
---------------------------------------------------------------------------
Some extra relevant info courtesy a poster over on ADVFN
rgds.
(I'm in on this one by the way... broker tip anticipating better news from Topaz. Have taken quite a hit but the long term is not disastrous, I don't think.)
Hungary for energy
Matra needs brawn and brain
Matra is looking to tap in to Hungarian concerns
about energy supply by developing its
gas interests south-west of Budapest. Hungary
is not high on the list of countries expected to
be hydrocarbon rich, but its lack of domestic
supply provides opportunities for Matra.
It suffered a setback in early May 2006, following
drilling at Topaz-9, which only encountered water.
This well has since been plugged and abandoned,
but despite this disappointment, management
remains positive. The drilling activity confirmed
not only a working hydrocarbon system, but
added to the knowledge base, which should further
refine the ongoing drilling programme. Matra
still has further prospects to drill on its 2,297 sq
km large concession, most of which are on trend
with the producing Savoly oilfields situated to the
west. Moreover, the prospectivity of the block is
strengthened by other known hydrocarbon discoveries
at Somogysamson3 and Nagyatad. Matra
expects to employ modern drilling practices to
overcome damage to the wells. The early setback
saw the shares drop below the AIM Placing (5p),
but we remain optimistic going forward.
This is partly based on the favourable environment
for aspiring oil and gas producers in Hungary.
Energy policy has focused on securing supply and
alleviating Hungarys dependence on imports,
particularly of gas. The majority of Hungarys gas,
around 70%, comes from Russia. It is a wide-ranging
policy that includes energy efficiency and
market liberalisation, but also aims to search for
other supply channels. The importance of developing
domestic energy sources was heightened by the
controversy at the start of the year when the supply
of Russian gas was dramatically reduced following
a disagreement between Russia and Ukraine. Given
this, if Matra can find any economic deposits, it is
likely that the Hungarians will take a very pro-active
and helping hand in developing the prospect.
Exploration is a fraught activity and the markets reaction
to the disappointing news has, in our opinion,
been overdone. The macro environment along
with the historical prospectivity of its concession
is currently in Matras favour. Combining refined
survey data, with modern drilling techniques
could lead to the development of a new domestic
producer.
Do these guys have any other prospects apart from the rest of Blue Topaz-9?
---------------------------------------------------------------------------
Some extra relevant info courtesy a poster over on ADVFN
rgds.
(I'm in on this one by the way... broker tip anticipating better news from Topaz. Have taken quite a hit but the long term is not disastrous, I don't think.)
Hungary for energy
Matra needs brawn and brain
Matra is looking to tap in to Hungarian concerns
about energy supply by developing its
gas interests south-west of Budapest. Hungary
is not high on the list of countries expected to
be hydrocarbon rich, but its lack of domestic
supply provides opportunities for Matra.
It suffered a setback in early May 2006, following
drilling at Topaz-9, which only encountered water.
This well has since been plugged and abandoned,
but despite this disappointment, management
remains positive. The drilling activity confirmed
not only a working hydrocarbon system, but
added to the knowledge base, which should further
refine the ongoing drilling programme. Matra
still has further prospects to drill on its 2,297 sq
km large concession, most of which are on trend
with the producing Savoly oilfields situated to the
west. Moreover, the prospectivity of the block is
strengthened by other known hydrocarbon discoveries
at Somogysamson3 and Nagyatad. Matra
expects to employ modern drilling practices to
overcome damage to the wells. The early setback
saw the shares drop below the AIM Placing (5p),
but we remain optimistic going forward.
This is partly based on the favourable environment
for aspiring oil and gas producers in Hungary.
Energy policy has focused on securing supply and
alleviating Hungarys dependence on imports,
particularly of gas. The majority of Hungarys gas,
around 70%, comes from Russia. It is a wide-ranging
policy that includes energy efficiency and
market liberalisation, but also aims to search for
other supply channels. The importance of developing
domestic energy sources was heightened by the
controversy at the start of the year when the supply
of Russian gas was dramatically reduced following
a disagreement between Russia and Ukraine. Given
this, if Matra can find any economic deposits, it is
likely that the Hungarians will take a very pro-active
and helping hand in developing the prospect.
Exploration is a fraught activity and the markets reaction
to the disappointing news has, in our opinion,
been overdone. The macro environment along
with the historical prospectivity of its concession
is currently in Matras favour. Combining refined
survey data, with modern drilling techniques
could lead to the development of a new domestic
producer.
soul traders
- 12 Jul 2006 09:29
- 17 of 436
Dave, thanks for a very useful and informative post. However, I'm not sure at present that Matra has done enough to distinguish itself from the rest. There seem to me to be better prospects out there, but PDYOR.
ellio - 02 May 2007 09:09 - 18 of 436
Something about to happen?
Matra Petroleum PLC
02 May 2007
PRESS RELEASE
For immediate release: 2nd May 2007
Matra Petroleum plc ('Matra' or the 'Company')
Matra increases issued share capital and notifies changes in significant
shareholdings:-
Issue and Allotment of Shares
Matra issued and allotted 55,000,000 ordinary shares to the vendors of Limited
Liability Company 'OOO' Arkhangelovskoe on 27th April 2007, increasing the
issued ordinary share capital of the Company to 317,000,000 shares. This
acquisition was outlined in the release dated 29th March 2007 and completed on
20th April 2007.
Notification of Change in Significant Shareholding
Matra was notified on 25th April 2007 by Gartmore Investment Limited that
following purchases of a further 28,135,318 ordinary shares, it now holds
39,640,254 ordinary shares in the Company, representing approximately 12.5% of
the Company's revised issued ordinary share capital.
Restatement of Significant Shareholders
Subsequent to the issue and allotment of 55,000,000 new shares on 27th April
2007 the following parties have become significant shareholders in Matra:
i. Kompania Gaz I Neft now holds 27,500,000 ordinary shares in the Company,
representing approximately 8.68% of the Company's issued ordinary share
capital.
ii. Ener Finvest Corp now holds 11,000,000 ordinary shares in the Company,
representing approximately 3.47% of the Company's issued ordinary share
capital.
iii. Pavel Lvovich Lukachevsky now holds 11,000,000 ordinary shares in the
Company, representing approximately 3.47% of the Company's issued ordinary
share capital.
The following companies have retained their existing shareholding but are no
longer significant shareholders as a result of the increased share capital:
i. Seaspin Pty Limited which holds 8,400,000 ordinary shares in the Company.
ii. William Brownlie Fairweather who holds 8,000,000 ordinary shares in the
Company.
iii. City Natural Resources High Yield Trust plc which holds 8,000,000 ordinary
shares in the Company.
Matra's significant shareholders have been restated to reflect the issue of new
shares as follows:
TOTAL TOTAL
03 Apr 07 03 Apr 07
NO. %
----------- -----------
GARTMORE FUND MANAGERS LTD 39,640,254 12.50%
GENESIS INVESTMENT MANAGEMENT LLP 32,300,000 10.19%
RAB CAPITAL PLC 29,700,000 9.37%
KOMPANIA GAZ I NEFT 27,500,000 8.68%
CRAIG BURTON 18,400,000 5.80%
ARGONAUGHT LIMITED 13,160,834 4.15%
ENER FINVEST CORP 11,000,000 3.47%
PAVEL LVOVICH LUKACHEVSKY 11,000,000 3.47%
----------- -----------
182,701,088 69.7%
Details of significant shareholders are available on the Matra website at
Matra Petroleum PLC
02 May 2007
PRESS RELEASE
For immediate release: 2nd May 2007
Matra Petroleum plc ('Matra' or the 'Company')
Matra increases issued share capital and notifies changes in significant
shareholdings:-
Issue and Allotment of Shares
Matra issued and allotted 55,000,000 ordinary shares to the vendors of Limited
Liability Company 'OOO' Arkhangelovskoe on 27th April 2007, increasing the
issued ordinary share capital of the Company to 317,000,000 shares. This
acquisition was outlined in the release dated 29th March 2007 and completed on
20th April 2007.
Notification of Change in Significant Shareholding
Matra was notified on 25th April 2007 by Gartmore Investment Limited that
following purchases of a further 28,135,318 ordinary shares, it now holds
39,640,254 ordinary shares in the Company, representing approximately 12.5% of
the Company's revised issued ordinary share capital.
Restatement of Significant Shareholders
Subsequent to the issue and allotment of 55,000,000 new shares on 27th April
2007 the following parties have become significant shareholders in Matra:
i. Kompania Gaz I Neft now holds 27,500,000 ordinary shares in the Company,
representing approximately 8.68% of the Company's issued ordinary share
capital.
ii. Ener Finvest Corp now holds 11,000,000 ordinary shares in the Company,
representing approximately 3.47% of the Company's issued ordinary share
capital.
iii. Pavel Lvovich Lukachevsky now holds 11,000,000 ordinary shares in the
Company, representing approximately 3.47% of the Company's issued ordinary
share capital.
The following companies have retained their existing shareholding but are no
longer significant shareholders as a result of the increased share capital:
i. Seaspin Pty Limited which holds 8,400,000 ordinary shares in the Company.
ii. William Brownlie Fairweather who holds 8,000,000 ordinary shares in the
Company.
iii. City Natural Resources High Yield Trust plc which holds 8,000,000 ordinary
shares in the Company.
Matra's significant shareholders have been restated to reflect the issue of new
shares as follows:
TOTAL TOTAL
03 Apr 07 03 Apr 07
NO. %
----------- -----------
GARTMORE FUND MANAGERS LTD 39,640,254 12.50%
GENESIS INVESTMENT MANAGEMENT LLP 32,300,000 10.19%
RAB CAPITAL PLC 29,700,000 9.37%
KOMPANIA GAZ I NEFT 27,500,000 8.68%
CRAIG BURTON 18,400,000 5.80%
ARGONAUGHT LIMITED 13,160,834 4.15%
ENER FINVEST CORP 11,000,000 3.47%
PAVEL LVOVICH LUKACHEVSKY 11,000,000 3.47%
----------- -----------
182,701,088 69.7%
Details of significant shareholders are available on the Matra website at
ellio - 10 May 2007 08:52 - 19 of 436
Seems to be alot oh high expectations on this one, if they find anything then could be another vog, at least in its initial stages!
capetown
- 10 May 2007 08:55
- 20 of 436
At last,seems it was worth holding,time really is a virtue.
ellio - 10 May 2007 10:03 - 21 of 436
"have a little patience!!"
ellio - 17 May 2007 10:54 - 22 of 436
Delek energy, anybody know who they are? they've just aquired a third of Matra fo r 6M, they must think it's worth it, essentially puts a seal of 4.p under Mta which is nice and allows them to move on with the drilling I assumme. Still have high hopes for these considering whose invested, they'll be looking for multiple returns
Should get to active until August, but you've got to think this may be a real early day investment!
Should get to active until August, but you've got to think this may be a real early day investment!
ellio - 07 Jun 2007 09:30 - 23 of 436
Must be something cooking here?
ellio - 09 Jul 2007 12:43 - 24 of 436
Plenty more here
Darradev - 01 Aug 2007 09:21 - 25 of 436
Ellio, morning, just seen the latest news. Looks promising.
http://www.moneyam.com/action/news/showArticle?id=2143131
http://www.moneyam.com/action/news/showArticle?id=2143131
ellio - 02 Aug 2007 22:54 - 26 of 436
In for the long-term, hoping for 20p if the finds are good, which they certainly look as they might be.
Good luck!
Good luck!
dibbles - 18 Oct 2007 11:54 - 27 of 436
Very quiet here considering all the newsflow we can expect soon....
Russian drilling results
Spudding of two further Russian wells before year end
Hungary gas updates
Possible acquisition of licence next door that tested at 1,850bopd(Russia)
Further drills to come in Hungary 2007/ early 2008
Further possible acquisitions in Hungary and Russia as stated by management
I'm getting all excited now, anyone else still holding?
Russian drilling results
Spudding of two further Russian wells before year end
Hungary gas updates
Possible acquisition of licence next door that tested at 1,850bopd(Russia)
Further drills to come in Hungary 2007/ early 2008
Further possible acquisitions in Hungary and Russia as stated by management
I'm getting all excited now, anyone else still holding?
Chea
- 19 Oct 2007 12:09
- 28 of 436
In profit with shares held and wondering if it would be sensible to buy into the warrants (MTAW). Any major disadvantages to this strategy?
mitzy - 19 Oct 2007 18:52 - 29 of 436
whats the price target over 12 months to 2 years..?
someuwin
- 21 Oct 2007 19:20
- 30 of 436
Chea - yes I hold both MTA shares and warrants. The warrants should outperform the shares.
mitzy - If all goes according to plan I wouldn't be surprised to see the SP top 50p within 2 years.
mitzy - If all goes according to plan I wouldn't be surprised to see the SP top 50p within 2 years.
mitzy - 21 Oct 2007 19:22 - 31 of 436
That will do for me someuwin..
mitzy - 22 Oct 2007 07:24 - 32 of 436
rns out today.
Chea
- 23 Oct 2007 08:00
- 33 of 436
someuwin - I went ahead with the warrants at 3.75 as they did seem at least reasonable value. Looking good so far.
mitzy - 23 Oct 2007 08:36 - 34 of 436
up 5% looking great for 10p.
mitzy - 24 Oct 2007 08:56 - 35 of 436
getting even closer now 10p by end of close.
mitzy - 24 Oct 2007 15:24 - 36 of 436
10p today theres no stopping to 12p..
mitzy - 30 Oct 2007 15:30 - 37 of 436
moving again ahead of the drilling report due in next 2 weeks.
mitzy - 06 Nov 2007 08:52 - 38 of 436
theres oil but no as much as some expected still 3 out of 3 is greatnews.
capetown
- 06 Nov 2007 08:53
- 39 of 436
Well done mitzy
mitzy - 06 Nov 2007 18:19 - 40 of 436
cheers capetown its looking great long term for a 2 bagger.
someuwin
- 06 Nov 2007 19:06
- 41 of 436
...you're not thinking big enough mitzy!
mitzy - 06 Nov 2007 20:06 - 42 of 436
Okay 50p then..!
mitzy - 11 Nov 2007 06:40 - 43 of 436
http://www.oilbarrel.com/home.html
mitzy - 11 Nov 2007 21:27 - 44 of 436
15p tomorrow.
Tonker
- 11 Nov 2007 21:59
- 45 of 436
why do you think 15p? is that article telling us something new?
mitzy - 12 Nov 2007 08:26 - 46 of 436
I got that wrong Tonker I was basing it on the cup n handle formation which is gradually forming.
mitzy - 13 Nov 2007 12:55 - 47 of 436
Now moving up after a slow start..
if the cup n handle is correct 15p is the next target.
if the cup n handle is correct 15p is the next target.
nite ram
- 03 Feb 2008 14:26
- 48 of 436
just a guess but tomorrow maybe the last chance to buy sub 10p Just need some
good news re. flow rates in Russia + Hungary and a forward going plan for at least
20% on the current SP
good news re. flow rates in Russia + Hungary and a forward going plan for at least
20% on the current SP
required field - 03 Feb 2008 14:50 - 49 of 436
Time this went up nite ram !
required field - 05 Feb 2008 10:48 - 50 of 436
Disappointing sp drop considering news going forward, market seems to quickly mark things down on the slightest bit of bad news, though you could hardly call that RNS total bad news, not every well will be a success !
niceonecyril - 13 Feb 2008 10:25 - 51 of 436
required field - 27 Feb 2008 23:21 - 52 of 436
Ridiculous drop here !, one failed well in Hungary (at no expense to the company), a slight delay in Russia and voila the sp halves ! absurd !
nite ram
- 29 Apr 2008 00:24
- 53 of 436
great money making opportunity buying at the 6p level given the two Russian
should produce in excess of 1,000bpd + back to Hungary in the next 2 weeks
to spug two shallows. Seems the best play in town to me ?
should produce in excess of 1,000bpd + back to Hungary in the next 2 weeks
to spug two shallows. Seems the best play in town to me ?
required field - 09 May 2008 17:31 - 54 of 436
A rise...well overdue !
capetown
- 28 May 2008 08:03
- 55 of 436
Mitzy,bet you smiling this am?
required field - 11 Jul 2008 09:25 - 56 of 436
Good news today...now they can get on with the business of getting oil and gas out of the ground.
mitzy - 02 Sep 2008 11:28 - 57 of 436
down again where is the bottom.
mitzy - 03 Sep 2008 16:05 - 58 of 436
Surely this is the bottom..
mitzy - 11 Sep 2008 15:28 - 59 of 436
Will be rated at 1p soon the way this is going.. whats wrong.
mitzy - 15 Sep 2008 08:51 - 60 of 436
down 20% incredible sub 1p soon.
required field - 15 Sep 2008 10:24 - 61 of 436
Bailed out a couple of months ago....it's not just this one....many minnows have gone down the plughole....if you are still in : perhaps the best thing is to stay put !.
mitzy - 15 Sep 2008 10:28 - 62 of 436
I'm out ages ago .
mitzy - 15 Sep 2008 16:29 - 63 of 436
I'll wait till they touch 1p before I buy.
mitzy - 24 Sep 2008 08:22 - 64 of 436
1.5p to sell now doesnt look good.
mitzy - 10 Oct 2008 14:02 - 65 of 436
sub 1p now what a disaster when you think they were 11p not long ago.
mitzy - 14 Oct 2008 11:35 - 66 of 436
wow near doubled on trading.
mitzy - 12 Nov 2008 09:23 - 67 of 436
Afraid these are now bust shareholders have been missled by the Directors.
mitzy - 03 Dec 2008 12:12 - 68 of 436
sub 1p now.
mitzy - 03 Dec 2008 13:14 - 69 of 436
Down 50% to .5p incredible to think they were 11p a year back.
capetown
- 12 Dec 2008 11:48
- 70 of 436
Any holders see the write up on mta in shares.NOT GOOD
mitzy - 12 Feb 2009 21:43 - 71 of 436
A gamble @0.33p.
Balerboy
- 01 May 2009 08:50
- 72 of 436
Made profit on these yesterday and seems to climbimg again on no news???? So am back in, hello.
Balerboy
- 01 May 2009 09:30
- 73 of 436
..
Balerboy
- 01 May 2009 09:47
- 74 of 436
7 mil vol, 38% climb so far.
mitzy - 27 Aug 2009 09:27 - 75 of 436
Rising 10% a day cant be a bid..?
mitzy - 28 Aug 2009 12:53 - 76 of 436
I reckon 4p next week maybe.
capetown
- 28 Aug 2009 14:27
- 77 of 436
I got n these on tues @2.75.so hope you are right with 4p for now mitzy.
Another rift?,maybee.GKP,in my dreams.
Another rift?,maybee.GKP,in my dreams.
mitzy - 30 Aug 2009 10:20 - 78 of 436
Another Rift ..?
I got in at the same price Capetown hope for 100% return here hold GKP and SEY all got a chance of 1 bagging.
From a tecnical view its a defin buy.
I got in at the same price Capetown hope for 100% return here hold GKP and SEY all got a chance of 1 bagging.
From a tecnical view its a defin buy.
capetown
- 30 Aug 2009 12:35
- 79 of 436
I got in sey recently,under2p and sold thurs,used profit to buy these,also OXS though very risky looking good,up 40% on fri.
Back to MTA,another rift will be awsome.
Back to MTA,another rift will be awsome.
mitzy - 08 Sep 2009 11:12 - 80 of 436
See the 2mill trades see the big volume this am.
grevis2 - 08 Sep 2009 11:44 - 81 of 436
Mitzy: What's going on with this one?
mitzy - 08 Sep 2009 11:58 - 82 of 436
Another 1 mill gone through @3p..
mitzy - 08 Sep 2009 12:12 - 83 of 436
Could be spudding news to be announced soon grevis.
mitzy - 08 Sep 2009 12:23 - 84 of 436
Up 30% now and no end to buying.
grevis2 - 08 Sep 2009 12:42 - 85 of 436
Found this posted on another BB today:
I haven't a crystal ball but I do know that considering the potential here a Mkt Cap of 21m (996m shares) is cheap whether the sp goes up or down on monday. MTA have an oil field but we don't know how much it contains. A-13 will answer that question. A-13 and A-12 could be producing over 2000 bopd between them early in the New Year. Here's to success!! I'll drink to that.
Probably news on granting of A-12 production licence jollyes man. Dont forget MATRA have an oil field (SOKO). The reservoir has good porosity and the oil is light and of a high quality (37-38 degree). Its almost certain that MATRA have at least 19m bbls of recoverable oil. It could be as high as 194m bbls but more likely is 65m bbls. The crestal well, A-13 will confirm what SOKO contains. But dont forget this is from one formation only, the Apnonenski, since A-12 was drilled on the flank of the field. There are 4 other hirizons to test!! Even after todays rise MATRA is still only capitalised at 20m. Its a snip, IMHO. But DYOR.
Kay, unfortunately you don't get many posts on this bb. A bb on another site is much more popular. I'm hoping for an sp of at least 5p (50m Mkt Cap) prior to A-13 results and hopefully higher. I wouldn't like to guess on the sp after spud RNS but I expect it to be higher than 2p. There is the possibility of news before the spud RNS. The company is expecting news on the production licence issue soon for A-12. The company can then start on its work over. Hopefully production from A-12 (evidently MTA expect to be producing from A-12 before A-13 results announced) will give a boost to the sp.
JRz, I'm no ramper I can assure you!! MTA have stated that the best estimate (using deterministic and probabilistic methods) of the recoverable oil contained in the Aphonenski formation, alone, is 65m bbls of "sweet", light oil. They know this oil is in the Aphonenski layer because they have already drilled a well into it. A-12 was drilled on the edge of the Aphonenski layer in late 2007. A-13 will test the crest. Estimates of recoverable oil in the Aphonenski layer of the SOKO field are, LOW 15m bbls, BEST 65m bbls and HIGH 194m bbls. There are 4 more layers to test, apart from the Aphonenski, with A-13. Using the best estimate as a guide and a conservative value of US$2 per bbl in the ground I value that 65m bbls at a minimum of US$130m or 80m. After the placing MTA has 996m shares in issue. So a 80 Mkt Cap equates to 8p per share. We will get closer to that value as MTA progress with the drill which hopefully will spud in a month or so.
EURODOLAR, MXP has a lot less shares in issue than MTA but it has an awful lot of debt whereas MTA has NO debt. MXP has more blue sky potential but I think MTA is a safer bet, though both are gambles. Lets not forget that.
Well Jimog it can't be a duster since we know the Aphonenski formation of the SOKO field contains oil. A-12 found oil in the Aphonenski on 6/11/07. It tested at 960 bopd. It produced under temporary licence for a number of months but only at around 100-200 bopd. A work over and acidisation improved matters but water ingress caused problems. Unfortunately A-12 was drilled right on the edge of the Aphonenski. The water ingress was caused by either the fact it was on the edge and was at the OWC zone or the water came from the Lower Aphonenski layer. MTA propose another work over of A-12 to stop the water ingress. From the results of A-12 and enhanced seismic they aim to drill the crest of Soko with A-13. There are 4 other prospective layers (3 shallower that contain oil in neighbouring fields) missed by A-12 that could contain oil BUT the Aphonenski definitely does, because A-12 found it!! The problem is how much? The best estimate is 65m bbls of recoverable, sweet, oil from the Aphonenski alone but we wont know how much oil is there until A-13 drill is completed. The net pay at A-12 was only 4-7 metres, less than expected because it was drilled on the edge of the field and not the crest as they thought. I imagine, though I'm only guessing, that the low estimate of only 19m bbls is if the net pay is still only 4-7 metres at the crest. I'm hoping that with at least the best estimate of 65m bbls from the Aphonenski plus a contribution from some of the other layers (Franski etc) MTA might be able to announce a reserve of 100m bbls of recoverable sweet oil. I think its 99% certain Jimog that A-13 will not be a duster!!
I haven't a crystal ball but I do know that considering the potential here a Mkt Cap of 21m (996m shares) is cheap whether the sp goes up or down on monday. MTA have an oil field but we don't know how much it contains. A-13 will answer that question. A-13 and A-12 could be producing over 2000 bopd between them early in the New Year. Here's to success!! I'll drink to that.
Probably news on granting of A-12 production licence jollyes man. Dont forget MATRA have an oil field (SOKO). The reservoir has good porosity and the oil is light and of a high quality (37-38 degree). Its almost certain that MATRA have at least 19m bbls of recoverable oil. It could be as high as 194m bbls but more likely is 65m bbls. The crestal well, A-13 will confirm what SOKO contains. But dont forget this is from one formation only, the Apnonenski, since A-12 was drilled on the flank of the field. There are 4 other hirizons to test!! Even after todays rise MATRA is still only capitalised at 20m. Its a snip, IMHO. But DYOR.
Kay, unfortunately you don't get many posts on this bb. A bb on another site is much more popular. I'm hoping for an sp of at least 5p (50m Mkt Cap) prior to A-13 results and hopefully higher. I wouldn't like to guess on the sp after spud RNS but I expect it to be higher than 2p. There is the possibility of news before the spud RNS. The company is expecting news on the production licence issue soon for A-12. The company can then start on its work over. Hopefully production from A-12 (evidently MTA expect to be producing from A-12 before A-13 results announced) will give a boost to the sp.
JRz, I'm no ramper I can assure you!! MTA have stated that the best estimate (using deterministic and probabilistic methods) of the recoverable oil contained in the Aphonenski formation, alone, is 65m bbls of "sweet", light oil. They know this oil is in the Aphonenski layer because they have already drilled a well into it. A-12 was drilled on the edge of the Aphonenski layer in late 2007. A-13 will test the crest. Estimates of recoverable oil in the Aphonenski layer of the SOKO field are, LOW 15m bbls, BEST 65m bbls and HIGH 194m bbls. There are 4 more layers to test, apart from the Aphonenski, with A-13. Using the best estimate as a guide and a conservative value of US$2 per bbl in the ground I value that 65m bbls at a minimum of US$130m or 80m. After the placing MTA has 996m shares in issue. So a 80 Mkt Cap equates to 8p per share. We will get closer to that value as MTA progress with the drill which hopefully will spud in a month or so.
EURODOLAR, MXP has a lot less shares in issue than MTA but it has an awful lot of debt whereas MTA has NO debt. MXP has more blue sky potential but I think MTA is a safer bet, though both are gambles. Lets not forget that.
Well Jimog it can't be a duster since we know the Aphonenski formation of the SOKO field contains oil. A-12 found oil in the Aphonenski on 6/11/07. It tested at 960 bopd. It produced under temporary licence for a number of months but only at around 100-200 bopd. A work over and acidisation improved matters but water ingress caused problems. Unfortunately A-12 was drilled right on the edge of the Aphonenski. The water ingress was caused by either the fact it was on the edge and was at the OWC zone or the water came from the Lower Aphonenski layer. MTA propose another work over of A-12 to stop the water ingress. From the results of A-12 and enhanced seismic they aim to drill the crest of Soko with A-13. There are 4 other prospective layers (3 shallower that contain oil in neighbouring fields) missed by A-12 that could contain oil BUT the Aphonenski definitely does, because A-12 found it!! The problem is how much? The best estimate is 65m bbls of recoverable, sweet, oil from the Aphonenski alone but we wont know how much oil is there until A-13 drill is completed. The net pay at A-12 was only 4-7 metres, less than expected because it was drilled on the edge of the field and not the crest as they thought. I imagine, though I'm only guessing, that the low estimate of only 19m bbls is if the net pay is still only 4-7 metres at the crest. I'm hoping that with at least the best estimate of 65m bbls from the Aphonenski plus a contribution from some of the other layers (Franski etc) MTA might be able to announce a reserve of 100m bbls of recoverable sweet oil. I think its 99% certain Jimog that A-13 will not be a duster!!
mitzy - 08 Sep 2009 12:49 - 86 of 436
Who would have thought a 10 bagger in the last 6 months.. and there isc t
mitzy - 09 Sep 2009 09:39 - 87 of 436
Buyers back .
grevis2 - 10 Sep 2009 12:26 - 88 of 436
Thanks Mitzy
Still researching this one.
Found this on their website. Well is expected to spud mid September, so more fun to come
For immediate release: 3 August 2009
Matra Petroleum plc (Matra or the Company)
Matra subsidiary contracts drilling rig.
Matra is pleased to announce that its 100% owned Russian subsidiary OOO Arkhangelovskoe has signed a turnkey contract with Petro-Management Drilling Company for the drilling of well-13 in the Sokolovskoe Field in Orenburg. The rig to be utilised is an Uralmash-4E electric rig.
Site preparation has commenced at the well-13 location and mobilisation of the rig will commence within the next few days. The contract allows for a 6 week period for mobilisation and commissioning of the rig at the new location and drilling to 3850m is expected to take approximately 120 days, after spud, at a cost of $4.5million (excluding VAT).
Matras Managing Director, Peter Hind said:
We are pleased to get drilling operations underway we expect to spud the well in mid-September and to have the well results very early in the New Year. This is a very important well for Matra and we will report again once the well has spud.
For further Information, please contact:
Matra Petroleum
www.matrapetroleum.com
Peter Hind, Managing Director
+44 (0) 7990 807855
Aquila Financial Limited (PR)
www.aquila-financial.com
Peter Reilly
RFC Corporate Finance (Nominated Adviser)
+44 (0) 118 979 4100
Steve Allen
Still researching this one.
Found this on their website. Well is expected to spud mid September, so more fun to come
For immediate release: 3 August 2009
Matra Petroleum plc (Matra or the Company)
Matra subsidiary contracts drilling rig.
Matra is pleased to announce that its 100% owned Russian subsidiary OOO Arkhangelovskoe has signed a turnkey contract with Petro-Management Drilling Company for the drilling of well-13 in the Sokolovskoe Field in Orenburg. The rig to be utilised is an Uralmash-4E electric rig.
Site preparation has commenced at the well-13 location and mobilisation of the rig will commence within the next few days. The contract allows for a 6 week period for mobilisation and commissioning of the rig at the new location and drilling to 3850m is expected to take approximately 120 days, after spud, at a cost of $4.5million (excluding VAT).
Matras Managing Director, Peter Hind said:
We are pleased to get drilling operations underway we expect to spud the well in mid-September and to have the well results very early in the New Year. This is a very important well for Matra and we will report again once the well has spud.
For further Information, please contact:
Matra Petroleum
www.matrapetroleum.com
Peter Hind, Managing Director
+44 (0) 7990 807855
Aquila Financial Limited (PR)
www.aquila-financial.com
Peter Reilly
RFC Corporate Finance (Nominated Adviser)
+44 (0) 118 979 4100
Steve Allen
mitzy - 11 Sep 2009 14:05 - 89 of 436
Notice the buying today before the long awaited news.
grevis2 - 14 Sep 2009 12:18 - 90 of 436
mitzy: News must be imminent!
mitzy - 14 Sep 2009 12:41 - 91 of 436
We can hope so..!
halifax - 18 Sep 2009 13:19 - 92 of 436
Bought a few in front of spud news which is now due.
mitzy - 18 Sep 2009 13:29 - 93 of 436
Overdue.
grevis2 - 21 Sep 2009 10:59 - 94 of 436
Said to spud mid September, so an RNS could come at anytime soon!
Balerboy
- 22 Sep 2009 09:34
- 95 of 436
climbing nicely again.
grevis2 - 22 Sep 2009 12:10 - 96 of 436
Taken from another BB:
Re Peter Hind:
I spoke to him yesterday late afternoon. Everything is on target. He did mention that the rigs in Russia are different to the west, in that they have to be dismantled for each site. He's suprised that PI's want the exact date for spudding....an RNS will come out when it has spudded but no delays.
2. He wasn't suprised at all that Gartmore sold some shares in MTA...."that's their business to sell shares at a profit".
3. They are looking at other opportunities in Russia BUT they won't be raising more capital until AFTER A13 results (Makes sense to me and gives me confidence)
4. Macqarie Bank Ltd have done a thorough technical due diligence of MTA before investing......that also gives me confidendce.
5. PH also told me that Delek do not want to be involved in a 30-60million company....looking at bigger capitalisation.
6. PH was on holiday last week, first time he's had one in 3 years.
7. They'll do a workover on A12 but likely to wait for production license...expect that soon-ish.
8. We did have a chat about the other resovoirs but I didn't understand what he was talking about.
9. I WISH I DID NOT SELL THE 300K to buy into PTR! I'LL WON@T BE CHASING THOUGH....STILL HAVE MILLIONS OF THESE!!
10. He thinks the winds with us and that he is pleased that people on ADVFN are not swearing at management anymore!
Re Peter Hind:
I spoke to him yesterday late afternoon. Everything is on target. He did mention that the rigs in Russia are different to the west, in that they have to be dismantled for each site. He's suprised that PI's want the exact date for spudding....an RNS will come out when it has spudded but no delays.
2. He wasn't suprised at all that Gartmore sold some shares in MTA...."that's their business to sell shares at a profit".
3. They are looking at other opportunities in Russia BUT they won't be raising more capital until AFTER A13 results (Makes sense to me and gives me confidence)
4. Macqarie Bank Ltd have done a thorough technical due diligence of MTA before investing......that also gives me confidendce.
5. PH also told me that Delek do not want to be involved in a 30-60million company....looking at bigger capitalisation.
6. PH was on holiday last week, first time he's had one in 3 years.
7. They'll do a workover on A12 but likely to wait for production license...expect that soon-ish.
8. We did have a chat about the other resovoirs but I didn't understand what he was talking about.
9. I WISH I DID NOT SELL THE 300K to buy into PTR! I'LL WON@T BE CHASING THOUGH....STILL HAVE MILLIONS OF THESE!!
10. He thinks the winds with us and that he is pleased that people on ADVFN are not swearing at management anymore!
grevis2 - 04 Oct 2009 23:16 - 97 of 436
PRESS RELEASE
For immediate release: 30th September 2009
Matra Petroleum plc
Operational Update - Sokolovskoe - well 13
Matra Petroleum announces that the rig is on location at the well-site in
Orenburg and commissioning is practically complete. We are encountering minor
delays in installing the power supply to the rig, which is subject to third
party control. In order to minimise the delay the drilling contractor is
mobilising a generator from another operation as an interim solution.
The generator is expected onsite within the next week, however it is subject to
release at a point that is operationally convenient to a third party and
therefore the exact date is outside our control but significant delays are not
currently anticipated.
A further announcement will be made when the well has spud.
For immediate release: 30th September 2009
Matra Petroleum plc
Operational Update - Sokolovskoe - well 13
Matra Petroleum announces that the rig is on location at the well-site in
Orenburg and commissioning is practically complete. We are encountering minor
delays in installing the power supply to the rig, which is subject to third
party control. In order to minimise the delay the drilling contractor is
mobilising a generator from another operation as an interim solution.
The generator is expected onsite within the next week, however it is subject to
release at a point that is operationally convenient to a third party and
therefore the exact date is outside our control but significant delays are not
currently anticipated.
A further announcement will be made when the well has spud.
grevis2 - 18 Oct 2009 17:39 - 98 of 436
http://www.fox-davies.com/media/79697/matrainitiatingcoverageoctober2009.pdf
16 October 2009
We initiate coverage of Matra Petroleum Plc (Matra) with a Buy
recommendation and a target price of 11p per share or a 250% upside to
current share price.
Matra is an AIM-listed oil and gas exploration and production company with a
single asset located in the Oremburg region of Russia where it owns 100% of the
rights to the Arkhangelovskoe licence. The Company made an oil discovery in
2007 with its first exploration well A-12, although subsequent mapping proved
the well to have been drilled too close to the edge of the structure, albeit with
an excellent updip potential.
We estimate the net recoverable resources at 60MMbbls, and close to
40MMbbls on a risked basis, from available data. On that basis we value the
Equity of Matra from DCF at US$190m or 11p per share with an un-risked
potential up to US$302m or 19p per share. The DCF valuation was calibrated
using a Public Market valuation to derive our price target of 11p per share.
With the forthcoming appraisal well A-13 to spud in the next week or so and
results expected 90 days thereafter, we believe this is a good time to invest in
the company. The shares have had a great run since the end of Q1 09 around
the time when financing was put in place and subsequently raised in July,
abating concerns about the Companys future and considerably lowering the
risk premium on the stock.
However we believe that a positive outcome at A-13 and the resulting upward
review from 2C reserves of 19MMbbls currently to 2P reserves of 60MMbbls
would certainly send the share price past the 11p level.
The investment case rests on the outcome of A-13 and the risk is obviously the
reservoir characteristics at that location; however the evidence from the data is
compelling, which provides a higher probability of success with a more limited
downside.
16 October 2009
We initiate coverage of Matra Petroleum Plc (Matra) with a Buy
recommendation and a target price of 11p per share or a 250% upside to
current share price.
Matra is an AIM-listed oil and gas exploration and production company with a
single asset located in the Oremburg region of Russia where it owns 100% of the
rights to the Arkhangelovskoe licence. The Company made an oil discovery in
2007 with its first exploration well A-12, although subsequent mapping proved
the well to have been drilled too close to the edge of the structure, albeit with
an excellent updip potential.
We estimate the net recoverable resources at 60MMbbls, and close to
40MMbbls on a risked basis, from available data. On that basis we value the
Equity of Matra from DCF at US$190m or 11p per share with an un-risked
potential up to US$302m or 19p per share. The DCF valuation was calibrated
using a Public Market valuation to derive our price target of 11p per share.
With the forthcoming appraisal well A-13 to spud in the next week or so and
results expected 90 days thereafter, we believe this is a good time to invest in
the company. The shares have had a great run since the end of Q1 09 around
the time when financing was put in place and subsequently raised in July,
abating concerns about the Companys future and considerably lowering the
risk premium on the stock.
However we believe that a positive outcome at A-13 and the resulting upward
review from 2C reserves of 19MMbbls currently to 2P reserves of 60MMbbls
would certainly send the share price past the 11p level.
The investment case rests on the outcome of A-13 and the risk is obviously the
reservoir characteristics at that location; however the evidence from the data is
compelling, which provides a higher probability of success with a more limited
downside.
Balerboy
- 19 Oct 2009 09:22
- 99 of 436
Doing very nicely this morning, glad I'm holding.
grevis2 - 19 Oct 2009 11:43 - 100 of 436
Still a longway off fox-davies target price:
"However we believe that a positive outcome at A-13 and the resulting upward
review from 2C reserves of 19MMbbls currently to 2P reserves of 60MMbbls
would certainly send the share price past the 11p level"
"However we believe that a positive outcome at A-13 and the resulting upward
review from 2C reserves of 19MMbbls currently to 2P reserves of 60MMbbls
would certainly send the share price past the 11p level"
Balerboy
- 19 Oct 2009 14:01
- 101 of 436
as long as i'm in the money i don't worry to much....:))
Balerboy
- 20 Oct 2009 08:48
- 102 of 436
And up it goes again, still with no news, must be something about to happen???
Balerboy
- 20 Oct 2009 08:56
- 103 of 436
Still blue.. a 1 mil "O" trade went through not long ago so theres confidence out there. nearly a three bagger for me..:))
Balerboy
- 20 Oct 2009 13:13
- 104 of 436
4.35p mid price ....
grevis2 - 20 Oct 2009 23:27 - 105 of 436
Moving up nicely. Spudding news cannot be far away!
capetown
- 25 Oct 2009 22:38
- 106 of 436
Quite a rise to 5p on that news alone,bodes well for when we do get closer to drill completion,and spudding news should take this back to at least 5p and +.
grevis2 - 28 Oct 2009 00:05 - 107 of 436
Burton sells as Matra starts drilling
Non-executive director Craig Burton has sold 3m shares in Matra Petroleum at an average price of 4.16p a share but he still holds 45.2m shares - 4.53% of the Russia-focused oil and gas explorer.
This follows last Friday's disposal of 18m shares by Macquarie Bank, which retains a 11.02% stake in Matra.
Burton is a director of a number of quoted resources companies.
Company Name Buy/Sell Date Trade Value Director Volume / Price
CAP-XX Sell 21-Oct-09 479,999.99 John C Murray 2,000,000 @ 24.00p
General Electric Buy 22-Oct-09 132,503.91 Alan G Lafley 13,000 @ 10.19
Matra Petroleum Sell 27-Oct-09 126,000.00 Craig Burton 3,000,000 @ 4.20p
Mondi Buy 27-Oct-09 20,262.00 John Edward Nicholas 6,000 @ 337.70p
Non-executive director Craig Burton has sold 3m shares in Matra Petroleum at an average price of 4.16p a share but he still holds 45.2m shares - 4.53% of the Russia-focused oil and gas explorer.
This follows last Friday's disposal of 18m shares by Macquarie Bank, which retains a 11.02% stake in Matra.
Burton is a director of a number of quoted resources companies.
Company Name Buy/Sell Date Trade Value Director Volume / Price
CAP-XX Sell 21-Oct-09 479,999.99 John C Murray 2,000,000 @ 24.00p
General Electric Buy 22-Oct-09 132,503.91 Alan G Lafley 13,000 @ 10.19
Matra Petroleum Sell 27-Oct-09 126,000.00 Craig Burton 3,000,000 @ 4.20p
Mondi Buy 27-Oct-09 20,262.00 John Edward Nicholas 6,000 @ 337.70p
watcher - 01 Nov 2009 13:41 - 108 of 436
5p would be a lovely confidence booster......
Balerboy
- 01 Nov 2009 14:44
- 109 of 436
wouldn't it just.... this week??
watcher - 03 Nov 2009 00:48 - 110 of 436
seems the progress is being made......perhaps as the weeks go by it could-should-would be gaining some levels closer to the 5p mark......
watcher - 11 Dec 2009 07:18 - 111 of 436
hope Mr Hind is gonna update soon.....
Balerboy
- 11 Jan 2010 08:31
- 112 of 436
nice tick up today, watcher... bit closer to your 5p
watcher - 11 Jan 2010 08:57 - 113 of 436
lets hope it holds and goes in the same direction.....no news found to indicate it will stay that way......keep the faith........5p
mogkins - 11 Jan 2010 09:13 - 114 of 436
one possible reason for the advance is a recommendation from a tipster or in a magazine, may therefore be shortlived when the market settles down
mitzy - 11 Jan 2010 09:19 - 115 of 436
good luck everyone.
watcher - 12 Jan 2010 15:37 - 116 of 436
so we slipped a bit today......total number of buy trades has given me confidence that some good news is around the corner.....following on from yesterday....still looking for the 5p.....or more as the drill programme progresses.....conservative and no ramping
Balerboy
- 15 Jan 2010 10:57
- 117 of 436
5p coming up.....
watcher - 15 Jan 2010 11:33 - 118 of 436
yep good to see the creep is in progress....now all we need is a positive RNS and see where we are going to next.....back to the cricket....and watching
Balerboy
- 15 Jan 2010 11:37
- 119 of 436
very sad.....lol
watcher - 15 Jan 2010 11:42 - 120 of 436
agreed.....
Balerboy
- 18 Jan 2010 08:07
- 121 of 436
Break out to 5p today quite possible.
Balerboy
- 18 Jan 2010 08:17
- 122 of 436
Gone though already, now climb some more and hold on.....
watcher - 18 Jan 2010 13:29 - 123 of 436
lovely confidence booster......see if it re-traces......if not expect some news to the positive side soon
Balerboy
- 18 Jan 2010 15:59
- 124 of 436
Watcher, question for you lower down the thread board on RGT..
halifax - 22 Jan 2010 14:25 - 125 of 436
RNS Macquarie bank sells 19m shares.Cashing in?
watcher - 25 Jan 2010 23:06 - 126 of 436
things moving nicely for the s.p. making good progress......
gibby - 26 Jan 2010 21:20 - 127 of 436
i shall prob buy some mta tomorrow - been waiting for a dip - gla
Balerboy
- 26 Jan 2010 21:49
- 128 of 436
gibby - 26 Jan 2010 21:55 - 129 of 436
yep - bit of a delay maybe will drop a bit more perhaps before bounce - at least they were insured against significant loss!! 100 days delay - hmmm - will see how tomorrow goes on l2 - cheers
watcher - 26 Jan 2010 22:46 - 130 of 436
next time i wanna state the obvious.....making good progress...i will hold fire.....only a delay...100 days.....time to raid the piggy bank.....at the end of the week.....
good luck
good luck
watcher - 17 Feb 2010 15:28 - 131 of 436
god news on the return to drilling......and some s.p. rise.......buying picking up
watcher - 17 Feb 2010 15:29 - 132 of 436
good news...........oops
Balerboy
- 17 Feb 2010 15:43
- 133 of 436
god probably has a lot to do with it......lol
watcher - 18 Feb 2010 14:02 - 134 of 436
well looks like the s.p. is on the creep.......up.......see if we can gain a bit of momentum before the drill depth gets close.....good luck all
Balerboy
- 22 Feb 2010 09:27
- 135 of 436
I feel 5p coming this week..
watcher - 15 Mar 2010 08:19 - 136 of 436
lovely to see the rise is being maintained....and we have got the whole month of april to go yet...on the present drill.....must be going well........he he
Balerboy
- 15 Mar 2010 08:21
- 137 of 436
here we are at 5.10p again, can we hold this week and climb on up, profit all the way.
mitzy - 15 Mar 2010 09:14 - 138 of 436
Beware the Ides of March..
watcher - 15 Mar 2010 09:59 - 139 of 436
julius caesar......i heard he got into MTA at 3.5p....clever chap.....
watcher - 17 Mar 2010 08:25 - 140 of 436
very positive news.....and of course looking forward to the end of april/early may to see what occurs......cash rich and good things to be added to the value of the company....with a few options to push the s.p. along nicely
good luck all
good luck all
Balerboy
- 23 Mar 2010 08:27
- 141 of 436
looks like 5p well past and holding....just like me..:))) 6p next and may not be long getting there. GL all holders.
robertalexander
- 30 Mar 2010 14:20
- 142 of 436
this one now moving to production.
i would have thought that would have merit a small rise.
unless they need fund raising to acquire necessary drilling eqpt. but they have a large kitty and no debt so would have thought they could get any monies on decent terms with no massive dilution to us. i know not really viable until they get the stuff out of the ground and start selling it which is obviously some time off but even so i thought this a fair RNS.
Any one care to comment.
Alex
i would have thought that would have merit a small rise.
unless they need fund raising to acquire necessary drilling eqpt. but they have a large kitty and no debt so would have thought they could get any monies on decent terms with no massive dilution to us. i know not really viable until they get the stuff out of the ground and start selling it which is obviously some time off but even so i thought this a fair RNS.
Any one care to comment.
Alex
watcher - 30 Mar 2010 16:06 - 143 of 436
thinking along the same lines.....big changes in the s.p. before the end of april....cant see it staying here for long...
watcher - 05 Apr 2010 17:03 - 144 of 436
could be a good week for MTA....oil progressing in price and drill getting nearer the depth.....
watcher - 20 Apr 2010 04:37 - 145 of 436
surprised no posting on this company....making steady progress and drill programme going well again....so creeping up.....and expected news on three levels by end of may if not sooner.....perhaps you're all in and watching
Balerboy
- 20 Apr 2010 07:56
- 146 of 436
OH YES!!
watcher - 20 Apr 2010 11:56 - 147 of 436
nice work if you can get it................
watcher - 20 May 2010 21:13 - 148 of 436
b.b. what is your take on the end of the month completion of drilling thus the effect on the s.p.
loads of rumours on other boards but surprising no posts on here
watcher
loads of rumours on other boards but surprising no posts on here
watcher
Balerboy
- 20 May 2010 22:14
- 149 of 436
Considering everything else was red on my list, MTA stayed blue all be it very small margin, I reckon something good got to be coming. Only time will tell but just over a week isn't long to wait.
Lets hope "13" as in Well, is lucky and produces some of the 65 mil barrels hoped for.
Lets hope "13" as in Well, is lucky and produces some of the 65 mil barrels hoped for.
watcher - 21 May 2010 08:16 - 150 of 436
on the ball......so only a short wait left.....either way.....trading brisk.....till the end of the month
Balerboy
- 26 May 2010 08:22
- 151 of 436
bit disappointing today watcher... down 50%...
mitzy - 26 May 2010 08:29 - 152 of 436
Julius Caeser was right...back to 2009 peices.
mitzy - 26 May 2010 09:55 - 153 of 436
I'm not sure this is a buy..maybe at 2p.
watcher - 26 May 2010 11:08 - 154 of 436
yep big ouch felt this morning.....see what happens about the production side of the RNS and of course when.....gonna keep the faith and watch till the end of next week....a defo buy at this price....
cheers bb
cheers bb
mitzy - 26 May 2010 11:17 - 155 of 436
good luck watcher.
watcher - 26 May 2010 11:32 - 156 of 436
thank you mitzy....might need it....a loss is only a loss when you sell.....he he
mitzy - 27 May 2010 08:21 - 157 of 436
Looking good this am.
Balerboy
- 27 May 2010 08:25
- 158 of 436
gone blue by 2% yet trades are all red....no buys at all??
mitzy - 27 May 2010 14:17 - 159 of 436
Careful now..
Balerboy
- 27 May 2010 14:21
- 160 of 436
that took you a long time.......bought a few more this am, not sure if it was right thing to do???
mitzy - 27 May 2010 14:28 - 161 of 436
Dont ask me..!
Balerboy
- 27 May 2010 14:31
- 162 of 436
lol..
mitzy - 28 May 2010 08:11 - 163 of 436
Not a good week next stop 1.5p.
Balerboy
- 28 May 2010 08:29
- 164 of 436
BLUE !!! 2.10p Buy Buy Buy....
mitzy - 28 May 2010 09:08 - 165 of 436
All over the place its hard to predict where it will end.
Balerboy
- 28 May 2010 09:26
- 166 of 436
Buy Buy Buy.!!!
mitzy - 28 May 2010 12:12 - 167 of 436
lol..
mitzy - 28 May 2010 15:27 - 168 of 436
I didnt expect 1.5p this week.
mitzy - 01 Jun 2010 08:30 - 169 of 436
another 10% drop.
watcher - 01 Jun 2010 08:42 - 170 of 436
think this will drift down to 1.5p.....and then will pick up as other positive news changes the disappointment of the drill result.....production commencing....another prospect to drill....the company will have to look ahead now.....with bruises.....like us all
still holding with crossed everyting...for year end 2010
still holding with crossed everyting...for year end 2010
Balerboy
- 01 Jun 2010 09:08
- 171 of 436
ditto..... could be a buy buy buy....
watcher - 01 Jun 2010 09:20 - 172 of 436
like your optimism....BB....have to get the crystal ball out and see if the mist is clear enough to make a decision like that...start saving now....if it gets to 1.5p i will be tempted to invest.....and watch
mitzy - 01 Jun 2010 18:51 - 173 of 436
Good reversal at close I think we have reached bottom.
Balerboy
- 01 Jun 2010 23:00
- 174 of 436
Hope for it to stabalise around 2 - 2.5p, this is only one dud well... time will tell.. maybe end of year..
watcher - 07 Jun 2010 15:51 - 175 of 436
getting close to the top up level......AGM on the horizon.....needs some positives to be announced and off we go before the year end......or do i change my rose tinted goggles
good luck the holders
good luck the holders
Balerboy
- 09 Jun 2010 08:16
- 176 of 436
looking a bit more on the positive side from this rns :-
Well-13
Matra is pleased to announce that data acquisition for well-13 is now complete and the production casing has been run and cemented. There will be a further period utilising the drilling rig to clean out cement inside the casing, pressure test and run a cement bond log. The drilling rig will then be released and demobilised. Demobilisation will take about three weeks after which a smaller rig will be utilised to complete, perforate and acidize the well. Production is expected to commence in August.
As previously announced, although reservoir quality at the well-13 location is lower than expected, the well encountered oil at a deeper level than previously anticipated. This means that the field is likely to cover a greater area than originally estimated. The verification of this by seismic remapping has already begun, and this process is likely to take several weeks.
Production Licence and Well-12
Well-12 demonstrated the ability to produce oil at rates exceeding 800 barrels of oil per day however, rising levels of water production through 2008 led to this well being suspended awaiting a well work over. The presence of oil in well-13 at a deeper level than seen in well-12 suggests that water produced from well-12 is likely to come from a source other than the main oil reservoir. In turn this means that it is more likely that oil production can be restored by work over of well-12.
Having complied with all the requirements for the issue of the Production Licence, we remain in constant contact with the authorities and are confident that the Production Licence will be issued shortly.
On this basis, a work over of well-12 will be scheduled directly after the well-13 completion with production targeted for the middle of August.
Matra's Managing Director, Peter Hind said:
"The results of this well show that we have an oilfield of greater areal extent but lesser thickness and quality than our pre-drill estimates. Our priorities are: to put A-13 on production; to obtain the Production Licence; to re-establish production from well-12 and to remap the field using new data obtained.
Although the results from the A13 well were not as positive as anticipated, in any field there are bound to be surprises with the first wells and the challenge is to utilise that information to optimize the future development of the field."
Well-13
Matra is pleased to announce that data acquisition for well-13 is now complete and the production casing has been run and cemented. There will be a further period utilising the drilling rig to clean out cement inside the casing, pressure test and run a cement bond log. The drilling rig will then be released and demobilised. Demobilisation will take about three weeks after which a smaller rig will be utilised to complete, perforate and acidize the well. Production is expected to commence in August.
As previously announced, although reservoir quality at the well-13 location is lower than expected, the well encountered oil at a deeper level than previously anticipated. This means that the field is likely to cover a greater area than originally estimated. The verification of this by seismic remapping has already begun, and this process is likely to take several weeks.
Production Licence and Well-12
Well-12 demonstrated the ability to produce oil at rates exceeding 800 barrels of oil per day however, rising levels of water production through 2008 led to this well being suspended awaiting a well work over. The presence of oil in well-13 at a deeper level than seen in well-12 suggests that water produced from well-12 is likely to come from a source other than the main oil reservoir. In turn this means that it is more likely that oil production can be restored by work over of well-12.
Having complied with all the requirements for the issue of the Production Licence, we remain in constant contact with the authorities and are confident that the Production Licence will be issued shortly.
On this basis, a work over of well-12 will be scheduled directly after the well-13 completion with production targeted for the middle of August.
Matra's Managing Director, Peter Hind said:
"The results of this well show that we have an oilfield of greater areal extent but lesser thickness and quality than our pre-drill estimates. Our priorities are: to put A-13 on production; to obtain the Production Licence; to re-establish production from well-12 and to remap the field using new data obtained.
Although the results from the A13 well were not as positive as anticipated, in any field there are bound to be surprises with the first wells and the challenge is to utilise that information to optimize the future development of the field."
watcher - 09 Jun 2010 08:27 - 177 of 436
i think they put the news out before the AGM to soften the audience up......but if production commences in august it will help the s.p.
gibby - 09 Jun 2010 21:11 - 178 of 436
going well imo - 3p by end august min.
mitzy - 30 Jun 2010 12:04 - 179 of 436
I'm not buying.
Balerboy
- 30 Jun 2010 13:43
- 180 of 436
come on mitzy where's your buy buy buy motivation gone.,.
mitzy - 30 Jun 2010 14:24 - 181 of 436
lol..
mitzy - 05 Jul 2010 09:49 - 182 of 436
Close to buying.
Balerboy
- 05 Jul 2010 09:53
- 183 of 436
close to crying.,.
mitzy - 05 Jul 2010 11:33 - 184 of 436
lol..
watcher - 05 Jul 2010 11:46 - 185 of 436
1.25p and i be adding to my holding.....waiting till year end
Balerboy
- 08 Jul 2010 15:46
- 186 of 436
glad i topped up yesterday at 1.40p as is 20% up today..
Balerboy
- 09 Jul 2010 08:56
- 187 of 436
up another 12% with no news.....coming good.
mitzy - 09 Jul 2010 10:11 - 188 of 436
Great.
watcher - 09 Jul 2010 10:48 - 189 of 436
if there isn't any news out the s.p. will drift back down......which i dont want......
gibby - 12 Aug 2010 07:56 - 190 of 436
6M cash & no debt - mta easily worth more than current sp - imo will multi bag from this sp in the coming months :
RNS Number : 9386Q Matra Petroleum PLC 12 August 2010 12th August 2010 Matra Petroleum PLC ("Matra" or the "Company") Interim Results Matra Petroleum PLC, an independent oil and gas exploration and production Company with operations in Russia, today announces its results for the period ended 30 June 2010 Highlights Operational The first appraisal well in the Sokolovskoe Field, Well-13, successfully proved the presence of an oil reservoir and a short open-hole test produced light, sweet oil at a rate of approximately 110 bbl/day Permission granted to re-enter Well-12 to re-establish production Financial Cash of 6 million at period-end Zero debt Outlook Plans to bring Well-13 on production Complete the remapping and geological modelling of the Sokolovskoe field Peter Hind, Managing Director commented: "2010 is an important year for Matra. We have completed our first appraisal well in the Sokolovskoe Field, proving the presence of the same oil reservoir 2.6 km from the discovery well. The result has provided information to assist our understanding of the field and how best to take the development forward. In the coming months we hope to have both wells on production and to have completed remapping and re-evaluation of the field."
RNS Number : 9386Q Matra Petroleum PLC 12 August 2010 12th August 2010 Matra Petroleum PLC ("Matra" or the "Company") Interim Results Matra Petroleum PLC, an independent oil and gas exploration and production Company with operations in Russia, today announces its results for the period ended 30 June 2010 Highlights Operational The first appraisal well in the Sokolovskoe Field, Well-13, successfully proved the presence of an oil reservoir and a short open-hole test produced light, sweet oil at a rate of approximately 110 bbl/day Permission granted to re-enter Well-12 to re-establish production Financial Cash of 6 million at period-end Zero debt Outlook Plans to bring Well-13 on production Complete the remapping and geological modelling of the Sokolovskoe field Peter Hind, Managing Director commented: "2010 is an important year for Matra. We have completed our first appraisal well in the Sokolovskoe Field, proving the presence of the same oil reservoir 2.6 km from the discovery well. The result has provided information to assist our understanding of the field and how best to take the development forward. In the coming months we hope to have both wells on production and to have completed remapping and re-evaluation of the field."
Balerboy
- 12 Aug 2010 08:56
- 191 of 436
even greater!!
mitzy - 12 Aug 2010 11:03 - 192 of 436
lol.
mitzy - 03 Sep 2010 08:22 - 193 of 436
On the run.
watcher - 03 Sep 2010 08:52 - 194 of 436
not sure why......but long may it remain...
Balerboy
- 03 Sep 2010 09:05
- 195 of 436
yes about 4p wold be nice. buy buy buy
maxtor - 03 Sep 2010 09:23 - 196 of 436
it is on the move at last. we need some 500,000 buys and it should stay above 2p
news must be due wells soon????
news must be due wells soon????
Balerboy
- 03 Sep 2010 09:33
- 197 of 436
mitzy's good for 500,000 .,.
Master RSI - 03 Sep 2010 09:35 - 198 of 436
LOTS of trades and volume of over 10 millions
I had a look a few minutes ago and it was on a negative Level 2 at the moment
2 v 4 on a spread of 1.85 / 2p
I had a look a few minutes ago and it was on a negative Level 2 at the moment
2 v 4 on a spread of 1.85 / 2p
maxtor - 03 Sep 2010 09:49 - 199 of 436
nice 1.4 mil shares buy.
Master RSI - 03 Sep 2010 09:51 - 200 of 436
very tight spread and difficut to buy on size now as they are asking for premium.
bid up to 1.90p now
bid up to 1.90p now
champagne ronny - 03 Sep 2010 09:56 - 201 of 436
I've placed an order 'fill or kill' not wanting to pay a premium just yet, any targets master?
maxtor - 03 Sep 2010 10:22 - 202 of 436
mm s play usual silly games coming in with late buy /sells holding price down.
Master RSI - 03 Sep 2010 10:25 - 203 of 436
maxtor
re - mm s play usual silly games
is WINS allways moving into the bid, but as soon as there are a couple sells is back to offer, like now.
re - mm s play usual silly games
is WINS allways moving into the bid, but as soon as there are a couple sells is back to offer, like now.
champagne ronny - 03 Sep 2010 10:39 - 204 of 436
WINS all over the place!
Master RSI - 03 Sep 2010 11:52 - 205 of 436
Is someone just posting rumours yesterday?
Matra Petroleum. Production Alert!
on September 2, 2010 at 12:31 pm
The whispers circulating here are that A12 could be back on production by the end of the weekend or may very well have started. Remember that in my opinion Matra are a speculative buy, when production restarts they will rise significantly
Bearing in mind that Matras schedule stated the end of August i would suggest that news is imminent.
Please remember that this is a penny share and is subject to the vagaries of wild fluctuations by day-traders.
A day traders Alert for this stock was triggered here at 11.20am. Vis-a-vis a 400,000 over the counter trade.
The heat is on here.
Eyes on for all the long-suffering Matra holders.
Good news 4/5p on a positive RNS.
Daniel
Matra Petroleum. Production Alert!
on September 2, 2010 at 12:31 pm
The whispers circulating here are that A12 could be back on production by the end of the weekend or may very well have started. Remember that in my opinion Matra are a speculative buy, when production restarts they will rise significantly
Bearing in mind that Matras schedule stated the end of August i would suggest that news is imminent.
Please remember that this is a penny share and is subject to the vagaries of wild fluctuations by day-traders.
A day traders Alert for this stock was triggered here at 11.20am. Vis-a-vis a 400,000 over the counter trade.
The heat is on here.
Eyes on for all the long-suffering Matra holders.
Good news 4/5p on a positive RNS.
Daniel
mitzy - 03 Sep 2010 15:47 - 206 of 436
Where will this end..?
Master RSI - 28 Sep 2010 13:00 - 207 of 436
From the "UPS" thread ...........
MTA spread 1.85 / 2p
The large volume with rise, is pointing to a BREAKOUT and there is a large GAP to 5p to be filled
MTA spread 1.85 / 2p
The large volume with rise, is pointing to a BREAKOUT and there is a large GAP to 5p to be filled
Master RSI - 28 Sep 2010 13:19 - 208 of 436
It will take a bit of a push to get through, but it will eventualy by the number of trades going on.
On any BREAKOUT it needs a lot of volume buying to support that PUSH
someone paid 2p when offer is 1.95p
On any BREAKOUT it needs a lot of volume buying to support that PUSH
someone paid 2p when offer is 1.95p
mitzy - 28 Sep 2010 13:39 - 209 of 436
Big gap to fill.
Master RSI - 28 Sep 2010 22:39 - 210 of 436
over 45m traded including -plus market -
Balerboy
- 01 Oct 2010 10:57
- 211 of 436
Another big jump in sp but no news or reason still glad to see movement in the right direction.,.
Master RSI - 01 Oct 2010 11:41 - 212 of 436
Its the BREAKOUT I predicted on Last Tuesday post, the reason for the large volume, as the punters are piling in as the chart is now pointing to the 5p
share price at 2.45p
share price at 2.45p
mitzy - 01 Oct 2010 13:14 - 213 of 436
well played sir.
watcher - 01 Oct 2010 15:26 - 214 of 436
so glad i held on...long way to go before it hits 5p.......unless the RNS supports the spike
GLA
GLA
Balerboy
- 01 Oct 2010 16:00
- 215 of 436
couldn't agree more.,.
Master RSI - 01 Oct 2010 16:04 - 216 of 436
Share price consolidating after the UPS and downs since the BREAKOUT
Could be news soon of the A12 back on stream after workover
Could be news soon of the A12 back on stream after workover
Master RSI - 08 Oct 2010 10:28 - 217 of 436
From the "UPS" thread earlier this morning...........
MTA 1.90 / 1.95p - 0.075p
Reason: The "keep an EYE" share has now had a retracement of 61.8% from its intraday high of 2.825p, this is an important strong point for the bounce back as is support at the same time.
Strong level 2 now of 4 v 1, and sells are given a premium 1.92p
CHARTS - 5 DAYS 1 MONTH
MTA 1.90 / 1.95p - 0.075p
Reason: The "keep an EYE" share has now had a retracement of 61.8% from its intraday high of 2.825p, this is an important strong point for the bounce back as is support at the same time.
Strong level 2 now of 4 v 1, and sells are given a premium 1.92p
CHARTS - 5 DAYS 1 MONTH
Master RSI - 08 Oct 2010 10:34 - 218 of 436
The chart on Fibonacci points done last Tuesday 5th, as I was expecting this to happen .....
mitzy - 25 Oct 2010 08:24 - 219 of 436
Top loser this am.
Balerboy
- 25 Oct 2010 08:26
- 220 of 436
Competent Person's Report ("CPR")
Matra Petroleum, the Russian focused E&P Company, is pleased to report that Energy Resource Consultants ("ERC") has completed a CPR on the Sokolovskoe Field. The CPR is based on the results of the in-depth geophysical and geological review conducted by Equipoise Solutions.
The main results are as follows:
Contingent Recoverable Resources (2C) 15.1 million barrels1
Net Present Value $60-80 million for 15 million barrels2
Deterministic Recoverable Resources as currently mapped - 23.7
million barrels3
Unrisked additional Prospective Recoverable Resource of up to
84 million barrels (high case)
1. Under SPE guidelines these estimates will be reclassified as Recoverable Reserves once the "Contingencies" are satisfied. The contingencies are the formal issue of the Production Licence, the adoption by the Board of Matra and acceptance by appropriate authorities of a Field Development Plan.
2. Net Present Value using 10% discount rate and $75/barrel for Urals blend export price. (ERC verification/audit of Matra model)
3. Estimate is based on the structure as currently mapped by Equipoise Solutions but cannot currently be included in SPE classifications due to structural uncertainty and lack of well data in the NE part of the field.
The covering letter from ERC and definitions are shown below.
Operational Update
Well-12
Attempts to establish a circulation path between the oil and water zones that would allow cement isolation in well 12 have been unsuccessful. Following a technical review we concluded that further attempts to isolate water in well-12 are unlikely to be successful and therefore the well will be sidetracked some 50 meters from the existing bottom hole location where drilling will be halted within the oil zone (without penetrating water bearing formations) and then recompleted for production.
A contract for this side-track is currently being finalised and the rig will be mobilised to the site within the next few days. This will be funded from existing cash resources and is estimated to take four to six weeks.
Well-13
Due to contractual commitments of the workover rig from well-12 a rig has been separately sourced to conduct the remedial work on well-13. This rig is currently being mobilised to the site and the work is expected to take 2-3 weeks.
The nature of the water influx in well-13 differs from that in well-12 and therefore cement isolation is technically more feasible.
Matra's Managing Director, Peter Hind said:
"We are delighted with the results from the CPR which endorse our strategy to monetise the Sokolovskoe Field. The work conducted by Equipoise has also resolved the technical issues thrown up by the well-13 result. The geological review concluded that we have yet to encounter the best part of the reservoir and that the main reefs are most likely very close to existing wells and the possibility remains that reserves will ultimately be much higher.
Given the unexpected result of well-13, we will need to confirm the North Eastern part of the structure with more seismic and additional wells to move that area into the Contingent Recoverable Resources category. The economic review concludes that the development is extremely robust commercially and that additional reserves will add substantial value in the future.
In well-12 we reached the conclusion that it would be better to side-track the well away from the existing location. This is likely to provide a much more satisfactory result.
We are not aware of any impediments to the issue of the Production Licence and expect confirmation of this before year-end, allowing us to move reserves into the proven and probable category and to begin field development in earnest."
Matra Petroleum, the Russian focused E&P Company, is pleased to report that Energy Resource Consultants ("ERC") has completed a CPR on the Sokolovskoe Field. The CPR is based on the results of the in-depth geophysical and geological review conducted by Equipoise Solutions.
The main results are as follows:
Contingent Recoverable Resources (2C) 15.1 million barrels1
Net Present Value $60-80 million for 15 million barrels2
Deterministic Recoverable Resources as currently mapped - 23.7
million barrels3
Unrisked additional Prospective Recoverable Resource of up to
84 million barrels (high case)
1. Under SPE guidelines these estimates will be reclassified as Recoverable Reserves once the "Contingencies" are satisfied. The contingencies are the formal issue of the Production Licence, the adoption by the Board of Matra and acceptance by appropriate authorities of a Field Development Plan.
2. Net Present Value using 10% discount rate and $75/barrel for Urals blend export price. (ERC verification/audit of Matra model)
3. Estimate is based on the structure as currently mapped by Equipoise Solutions but cannot currently be included in SPE classifications due to structural uncertainty and lack of well data in the NE part of the field.
The covering letter from ERC and definitions are shown below.
Operational Update
Well-12
Attempts to establish a circulation path between the oil and water zones that would allow cement isolation in well 12 have been unsuccessful. Following a technical review we concluded that further attempts to isolate water in well-12 are unlikely to be successful and therefore the well will be sidetracked some 50 meters from the existing bottom hole location where drilling will be halted within the oil zone (without penetrating water bearing formations) and then recompleted for production.
A contract for this side-track is currently being finalised and the rig will be mobilised to the site within the next few days. This will be funded from existing cash resources and is estimated to take four to six weeks.
Well-13
Due to contractual commitments of the workover rig from well-12 a rig has been separately sourced to conduct the remedial work on well-13. This rig is currently being mobilised to the site and the work is expected to take 2-3 weeks.
The nature of the water influx in well-13 differs from that in well-12 and therefore cement isolation is technically more feasible.
Matra's Managing Director, Peter Hind said:
"We are delighted with the results from the CPR which endorse our strategy to monetise the Sokolovskoe Field. The work conducted by Equipoise has also resolved the technical issues thrown up by the well-13 result. The geological review concluded that we have yet to encounter the best part of the reservoir and that the main reefs are most likely very close to existing wells and the possibility remains that reserves will ultimately be much higher.
Given the unexpected result of well-13, we will need to confirm the North Eastern part of the structure with more seismic and additional wells to move that area into the Contingent Recoverable Resources category. The economic review concludes that the development is extremely robust commercially and that additional reserves will add substantial value in the future.
In well-12 we reached the conclusion that it would be better to side-track the well away from the existing location. This is likely to provide a much more satisfactory result.
We are not aware of any impediments to the issue of the Production Licence and expect confirmation of this before year-end, allowing us to move reserves into the proven and probable category and to begin field development in earnest."
mitzy - 15 Nov 2010 09:32 - 221 of 436
Top performer this morning.
mitzy - 15 Nov 2010 12:45 - 222 of 436
This could go all the way.
Balerboy
- 15 Nov 2010 13:52
- 223 of 436
whats happened to your matd.....was getting me all excited last week......Nice to see this one taking off.,.
driver
- 16 Nov 2010 12:54
- 224 of 436
kuzemko - 16 Nov 2010 13:53 - 225 of 436
yep,
despite the news, still lot of buying today and last few days??????
despite the news, still lot of buying today and last few days??????
driver
- 16 Nov 2010 14:01
- 226 of 436
Bought into MTA today on the dip.
driver
- 14 Dec 2010 13:12
- 227 of 436
Matra Petroleum mobilises rig for well-12
StockMarketWire.com
Matra Petroleum says that a rig has been contracted to undertake side-tracking operations on well-12 and mobilisation to the site has begun.
Remedial cementing operations have now been completed on well-13. After a short flow period to ascertain if the water has been successfully isolated, the well will be shut-in while surface production equipment is installed before restarting production.
MD Peter Hind adds: "The remedial cementing on well-13 appears to have gone well. We will know if we have successfully isolated the water zone once production is started.
"We are pleased to be starting work on the well -12 side-track which will be supervised by Fosco, a highly experienced Russian contractor."
Operational Update
http://moneyam.uk-wire.com/cgi-bin/articles/201012140700068658X.html
StockMarketWire.com
Matra Petroleum says that a rig has been contracted to undertake side-tracking operations on well-12 and mobilisation to the site has begun.
Remedial cementing operations have now been completed on well-13. After a short flow period to ascertain if the water has been successfully isolated, the well will be shut-in while surface production equipment is installed before restarting production.
MD Peter Hind adds: "The remedial cementing on well-13 appears to have gone well. We will know if we have successfully isolated the water zone once production is started.
"We are pleased to be starting work on the well -12 side-track which will be supervised by Fosco, a highly experienced Russian contractor."
Operational Update
http://moneyam.uk-wire.com/cgi-bin/articles/201012140700068658X.html
mitzy - 23 Dec 2010 07:59 - 228 of 436
RNS.
Balerboy
- 23 Dec 2010 08:00
- 229 of 436
I think it's worth a YES!!! as well
mitzy - 23 Dec 2010 08:02 - 230 of 436
Yes...!
driver
- 23 Dec 2010 10:20
- 231 of 436
Looking good, just need some Oil Now
driver
- 24 Dec 2010 11:02
- 232 of 436
Nice steady rise, I topped up this morning.
driver
- 05 Jan 2011 18:25
- 233 of 436
News overdue should be this week. This will double if its good.
driver
- 12 Jan 2011 17:01
- 234 of 436
watcher - 17 Jan 2011 22:15 - 235 of 436
slipping the wrong way at the moment......fingers crossed for some positive news soon
driver
- 18 Jan 2011 15:46
- 236 of 436
mitzy - 27 Jan 2011 14:09 - 237 of 436
Watch that man.
goldfinger
- 27 Jan 2011 14:17
- 238 of 436
Hows it going mitzy havent seen you across the road for a while. All the best GF.
driver
- 27 Jan 2011 14:24
- 239 of 436
Something a stirring me thinks.
mitzy - 27 Jan 2011 15:07 - 240 of 436
Hi gf..
dont post much these days..
dont post much these days..
driver
- 27 Jan 2011 16:34
- 241 of 436
24% up news coming. Good or Bad it's coming.
mitzy - 27 Jan 2011 17:03 - 242 of 436
wow thats just great news of recommencement of drilling..?
driver
- 27 Jan 2011 17:20
- 243 of 436
mitzy
Point taken no new is good news.
Point taken no new is good news.
Balerboy
- 28 Jan 2011 09:58
- 244 of 436
venturing up into 4p's again, hope it holds.,.
driver
- 02 Feb 2011 15:30
- 245 of 436
Brokermandaniels' Blog
1000 BOPD in 10 days!
Theres no pleasing some folk!
Matras latest epistle (foretold here) landed this morning confirming what we here generally predicted last week. The A13 problems have been RESOLVED yes thats great news and the share-price spiked to 4.20p then began a gentle decline after day-traders NOT investors began closing their positions. The water zone has been successfully isolated and only OIL IS NOW FLOWING! Yes youve read that correctly OIL IS NOW FLOWING and what some are missing is this: The percentage of oil recovered from A13 can only increase as will Matras share-price. Pressure data should confirm a higher rate of oil flow probably in excess of 200 bopd
The A12 update should be seen in a very positive light. Drilling is known to be well advanced here and news should be with us in the next 10 days or so. The weather has caused some delays but investors should remember that All equipment needed to progress the A12 is ON SITE and in full use as YOU read this post. The A12 drill is at an advanced stage and it is drilling into a virgin oil reservoir. From what I can gather Matra is determined come hell or high water to get the production oil flowing at 1000 bopd but I suspect that the 1000 bopd will be much improved upon once the production begins. This will significantly enhance the companys value.
Its never easy investing in small oil companys for future growth but one should always try to invest in those that are generally debt free, well-funded, good assets or asset potential with (whenever possible) proven oil in place and a genuine set of chaps running the company. Matra are all of the above. This Board are as honest as the day is long. Hodgson is an extremely polite and highly regarded geologist within the oil exploration community and Hind is a dedicated oil-man with a proven track-record of astute deal-making through-out his career. I like Matra and needless to say I believe in the company. Matras sp since they were first high-lighted by the Blog has more than doubled. This trend looks set to continue as Matra fight the good fight and bring value back to their core investor base. They are on the up.
1/ A13 water ingress solved.
2/ Full Production Licence granted.
We now await the third piece of news that will establish Matra as a fully producing oil company with all the benefits that brings to the company/investors.
3/ A12 side-track about to completed with flow rates of approx 1000 bopd
I get a lot flak via email for never giving out buy or sell recs. So Im going to break a rule just once and I dont do this lightly.
Investors moaned about the lack of a production Licence its now in place! Investors moaned and jeered about A13 problems theyve now been resolved.
Investors are still moaning about A12 its about 10 days away from successful confirmation.
Matra Petroleum are a GLARING BUY! It is staring investors in the face and most cant see the wood for the trees.
Gone for Lunch.
1000 BOPD in 10 days!
Theres no pleasing some folk!
Matras latest epistle (foretold here) landed this morning confirming what we here generally predicted last week. The A13 problems have been RESOLVED yes thats great news and the share-price spiked to 4.20p then began a gentle decline after day-traders NOT investors began closing their positions. The water zone has been successfully isolated and only OIL IS NOW FLOWING! Yes youve read that correctly OIL IS NOW FLOWING and what some are missing is this: The percentage of oil recovered from A13 can only increase as will Matras share-price. Pressure data should confirm a higher rate of oil flow probably in excess of 200 bopd
The A12 update should be seen in a very positive light. Drilling is known to be well advanced here and news should be with us in the next 10 days or so. The weather has caused some delays but investors should remember that All equipment needed to progress the A12 is ON SITE and in full use as YOU read this post. The A12 drill is at an advanced stage and it is drilling into a virgin oil reservoir. From what I can gather Matra is determined come hell or high water to get the production oil flowing at 1000 bopd but I suspect that the 1000 bopd will be much improved upon once the production begins. This will significantly enhance the companys value.
Its never easy investing in small oil companys for future growth but one should always try to invest in those that are generally debt free, well-funded, good assets or asset potential with (whenever possible) proven oil in place and a genuine set of chaps running the company. Matra are all of the above. This Board are as honest as the day is long. Hodgson is an extremely polite and highly regarded geologist within the oil exploration community and Hind is a dedicated oil-man with a proven track-record of astute deal-making through-out his career. I like Matra and needless to say I believe in the company. Matras sp since they were first high-lighted by the Blog has more than doubled. This trend looks set to continue as Matra fight the good fight and bring value back to their core investor base. They are on the up.
1/ A13 water ingress solved.
2/ Full Production Licence granted.
We now await the third piece of news that will establish Matra as a fully producing oil company with all the benefits that brings to the company/investors.
3/ A12 side-track about to completed with flow rates of approx 1000 bopd
I get a lot flak via email for never giving out buy or sell recs. So Im going to break a rule just once and I dont do this lightly.
Investors moaned about the lack of a production Licence its now in place! Investors moaned and jeered about A13 problems theyve now been resolved.
Investors are still moaning about A12 its about 10 days away from successful confirmation.
Matra Petroleum are a GLARING BUY! It is staring investors in the face and most cant see the wood for the trees.
Gone for Lunch.
driver
- 08 Feb 2011 11:11
- 246 of 436
Here we go again.
Matra. I predict a Riot!
News on the way!
Its looking very good here re the A12. Youll all recall that we here have consistently urged investors to hold their stock since Matra where trading at 1.45p; yes unbelievable isnt it? The share price has more than doubled since then at one point touching just under 5p. (Its a funny old world) Yet some just cant seem to be able to grasp or understand their investment. Matra holders were awaiting basically 3 bits of news. 1/Production Licence. 2/ A13 production resolved 200bopd. 3/ A12 Side track 1000 bopd.
Now two of the three are officially in place. Yes its been a grind to get there but that in itself should tell you that the Board have all but got it licked!
These are as cheap as chips and they are a multi-bagger. Theres no doubt that the A12 is all but complete. Whisper is that the TD has been reached. News could come at any time. Expect a confirmation that the A12 drill has and is going VERY WELL. And about time too! Investors should see the Boards persistence in gaining the Production Licence and resolving the A13 as pointers to how the A12 is currently progressing. Its nailed on that A12 will be producing soon enough! Ergo= rising sp. 9p? 10p? 11p? 12p? Once Matra are in full production with a clear revenue stream then you can expect an sp in the ascendency. They are going to rise dramatically over the next few days and weeks! Therell be a riot for stock! An immediate doubling of value looks nailed on!
http://brokermandaniel.com/
Matra. I predict a Riot!
News on the way!
Its looking very good here re the A12. Youll all recall that we here have consistently urged investors to hold their stock since Matra where trading at 1.45p; yes unbelievable isnt it? The share price has more than doubled since then at one point touching just under 5p. (Its a funny old world) Yet some just cant seem to be able to grasp or understand their investment. Matra holders were awaiting basically 3 bits of news. 1/Production Licence. 2/ A13 production resolved 200bopd. 3/ A12 Side track 1000 bopd.
Now two of the three are officially in place. Yes its been a grind to get there but that in itself should tell you that the Board have all but got it licked!
These are as cheap as chips and they are a multi-bagger. Theres no doubt that the A12 is all but complete. Whisper is that the TD has been reached. News could come at any time. Expect a confirmation that the A12 drill has and is going VERY WELL. And about time too! Investors should see the Boards persistence in gaining the Production Licence and resolving the A13 as pointers to how the A12 is currently progressing. Its nailed on that A12 will be producing soon enough! Ergo= rising sp. 9p? 10p? 11p? 12p? Once Matra are in full production with a clear revenue stream then you can expect an sp in the ascendency. They are going to rise dramatically over the next few days and weeks! Therell be a riot for stock! An immediate doubling of value looks nailed on!
http://brokermandaniel.com/
driver
- 11 Feb 2011 11:11
- 247 of 436
Some large buys today something is brewing.
driver
- 11 Feb 2011 17:07
- 248 of 436
Nice finish news soon.
WEAZEL - 25 Feb 2011 15:22 - 249 of 436
News imminent....
driver
- 25 Feb 2011 17:11
- 250 of 436
February 25, 2011
Bad Weather Has Delayed Remedial Work On Two Wells On Matras Sokolovskoe Field In Russia But The Company Sticks By Its Target of Achieving Up To 1000 bopd Soon
Last November we reported that investors in Matra Petroleum could be in line for an early Christmas present if all went to plan over the couple of ensuing months.
The AIM quoted companys work plan was capable of delivering production of 1000 barrels of oil per day, it said.
This news coupled with the release of a positive CPR on its Sokolovskoe field in Russia put some power behind the share price, pushing it up from 1.75p to 5p by late December; although it has fallen back a bit since then.
However, Christmas has been is a little late in arriving at Matras 100 per cent owned Arkhangelovskoe licence in the Orenberg region of Russia, which holds the Sokolovskoe field.
Although this area is has less severe climatic extremes than Siberia, it nevertheless gets extremely cold and what the company calls extraordinary weather conditions combined with the holiday season has caused delays to remedial work to two wells A13 and A12 which were to produce up to 1000 bopd.
But this month has seen the company announce both a placing of 50,000,000 ordinary shares at 3.1p per share to raise 1.55 million before expenses to add to working capital and an operations update saying the company has now made headway in getting the two wells to work.
Both wells have suffered from unwanted water production as highly productive water zones some 10 to 15 metres below the oil zones created cementing problems.
The company has now announced that periodic short flows of well-13 have shown the water zone has been successfully isolated and only oil is now flowing.
The well is flowing at a rate below 100 bopd. A further acid treatment may be required to improve production.
The company added:
It is very encouraging that the water zone has been isolated in well-13.
The very nature of remedial cementation means that the productive oil zone will have been partially plugged by cement too. We will now acquire pressure data that will allow us to estimate the wells true potential.
At A-12 the well is currently being sidetracked to access virgin reservoir some 50 metres from the original wellbore.
A spokesman told Oilbarrel that up to 1000 bopd should be met before too long.
This comes against the background of the upbeat CPR.
The report undertaken by Energy Resource Consultants, gives the field contingent recoverable resources of just over 15 million barrels:
the formal issue of a production licence which has been granted and the approval of a field development plan would convert these contingent resources into recoverable reserves under SPE guidelines.
The CPR also provided an estimate of the deterministic recoverable resources in the Sokolovskoe structure as mapped by reservoir experts
Equipoise Solutions, which was put at 23.7 million barrels (further drilling in the north east part of the field would be required to make this estimate suitable for SPE classifications).
More interesting, however, is the potential upside, with the CPR pointing to an unrisked additional prospective recoverable resource of up to 84 million barrels (high case).
This upside is based on two assumptions: first, that updip of the existing wells the lower reservoir zones become hydrocarbon-bearing when they rise above the oil water contact (which the CPR gives a 60 per cent geological chance of success);
and second, the development of patch reefs, highly permeable and porous limestone reefs that could yield production sweet spots (a 32 per cent chance of success).
The geological review concluded that the company has yet to encounter the best part of the reservoir and that the main reefs are most likely very close to existing wells and the possibility remains that reserves will ultimately be much higher.
The company is keen to chase down this upside and is planning a 3D seismic campaign to get underway at the beginning of next year.
Two to three more wells are also planned, one of which could get underway before the seismic comes in.
First, however, the priority is to bring A12 and A13 online
http://www.oilbarrel.com/nc/news/display_news/article/bad-weather-has-delayed-remedial-work-on-two-wells-on-matras-sokolovskoe-field-in-russia-but-the/860.html
Bad Weather Has Delayed Remedial Work On Two Wells On Matras Sokolovskoe Field In Russia But The Company Sticks By Its Target of Achieving Up To 1000 bopd Soon
Last November we reported that investors in Matra Petroleum could be in line for an early Christmas present if all went to plan over the couple of ensuing months.
The AIM quoted companys work plan was capable of delivering production of 1000 barrels of oil per day, it said.
This news coupled with the release of a positive CPR on its Sokolovskoe field in Russia put some power behind the share price, pushing it up from 1.75p to 5p by late December; although it has fallen back a bit since then.
However, Christmas has been is a little late in arriving at Matras 100 per cent owned Arkhangelovskoe licence in the Orenberg region of Russia, which holds the Sokolovskoe field.
Although this area is has less severe climatic extremes than Siberia, it nevertheless gets extremely cold and what the company calls extraordinary weather conditions combined with the holiday season has caused delays to remedial work to two wells A13 and A12 which were to produce up to 1000 bopd.
But this month has seen the company announce both a placing of 50,000,000 ordinary shares at 3.1p per share to raise 1.55 million before expenses to add to working capital and an operations update saying the company has now made headway in getting the two wells to work.
Both wells have suffered from unwanted water production as highly productive water zones some 10 to 15 metres below the oil zones created cementing problems.
The company has now announced that periodic short flows of well-13 have shown the water zone has been successfully isolated and only oil is now flowing.
The well is flowing at a rate below 100 bopd. A further acid treatment may be required to improve production.
The company added:
It is very encouraging that the water zone has been isolated in well-13.
The very nature of remedial cementation means that the productive oil zone will have been partially plugged by cement too. We will now acquire pressure data that will allow us to estimate the wells true potential.
At A-12 the well is currently being sidetracked to access virgin reservoir some 50 metres from the original wellbore.
A spokesman told Oilbarrel that up to 1000 bopd should be met before too long.
This comes against the background of the upbeat CPR.
The report undertaken by Energy Resource Consultants, gives the field contingent recoverable resources of just over 15 million barrels:
the formal issue of a production licence which has been granted and the approval of a field development plan would convert these contingent resources into recoverable reserves under SPE guidelines.
The CPR also provided an estimate of the deterministic recoverable resources in the Sokolovskoe structure as mapped by reservoir experts
Equipoise Solutions, which was put at 23.7 million barrels (further drilling in the north east part of the field would be required to make this estimate suitable for SPE classifications).
More interesting, however, is the potential upside, with the CPR pointing to an unrisked additional prospective recoverable resource of up to 84 million barrels (high case).
This upside is based on two assumptions: first, that updip of the existing wells the lower reservoir zones become hydrocarbon-bearing when they rise above the oil water contact (which the CPR gives a 60 per cent geological chance of success);
and second, the development of patch reefs, highly permeable and porous limestone reefs that could yield production sweet spots (a 32 per cent chance of success).
The geological review concluded that the company has yet to encounter the best part of the reservoir and that the main reefs are most likely very close to existing wells and the possibility remains that reserves will ultimately be much higher.
The company is keen to chase down this upside and is planning a 3D seismic campaign to get underway at the beginning of next year.
Two to three more wells are also planned, one of which could get underway before the seismic comes in.
First, however, the priority is to bring A12 and A13 online
http://www.oilbarrel.com/nc/news/display_news/article/bad-weather-has-delayed-remedial-work-on-two-wells-on-matras-sokolovskoe-field-in-russia-but-the/860.html
Balerboy
- 25 Feb 2011 20:06
- 251 of 436
OH YYYYEEEEESSSSSSSS!!!
Balerboy
- 08 Mar 2011 07:42
- 252 of 436
OOOOOOOOOOHHHHHHHHHH YYYYYYYYYYYYYEEEEEEESSSSSSSSS!!!!! wouldn't want to be out of these today!!! In the money and more to come.....yyyyyeeehhhhhhaaaaaaa.,.
edit: must stop taking the gibby pills!!
edit: must stop taking the gibby pills!!
markymar
- 08 Mar 2011 07:51
- 253 of 436
You sure your not Gibby.....you could be pro or top........
markymar
- 08 Mar 2011 08:39
- 254 of 436
Fox Davies flash note
Matra Petroleum (BUY, 0.07) (LON:MTA, 4.175p, ► (0.0%)) announced that production equipment has now been installed on site well-13; the well is now producing on clean-up flow and oil sales will start shortly. Once a stabilised rate is established a further pressure build-up survey will be acquired. Well-12 has been successfully side-tracked to a location 50m from the original hole and the well has been terminated in the oil reservoir. The well has been completed with a pre-perforated and un-cemented liner across the reservoir interval that should reduce formation damage. The well will now be completed for production and the rig will be moved off location before commencing production. Once the rig has been moved off we will begin production testin g the well to ascertain its productivity.
Comment: With the water ingress issues firmly behind them, Matra can now concentrate on establishing the productivity of those wells which will have a bearing on future development of the field. Oil sales will also bring cash flows to the Company. Overall very positive.
Matra Petroleum (BUY, 0.07) (LON:MTA, 4.175p, ► (0.0%)) announced that production equipment has now been installed on site well-13; the well is now producing on clean-up flow and oil sales will start shortly. Once a stabilised rate is established a further pressure build-up survey will be acquired. Well-12 has been successfully side-tracked to a location 50m from the original hole and the well has been terminated in the oil reservoir. The well has been completed with a pre-perforated and un-cemented liner across the reservoir interval that should reduce formation damage. The well will now be completed for production and the rig will be moved off location before commencing production. Once the rig has been moved off we will begin production testin g the well to ascertain its productivity.
Comment: With the water ingress issues firmly behind them, Matra can now concentrate on establishing the productivity of those wells which will have a bearing on future development of the field. Oil sales will also bring cash flows to the Company. Overall very positive.
Balerboy
- 08 Mar 2011 08:44
- 255 of 436
sp hasn't romped away as I hoped but if a steady clmb from now, will be good.
driver
- 08 Mar 2011 10:01
- 256 of 436
Balerboy
Agree the news could of gone either way, this is good news.
Agree the news could of gone either way, this is good news.
mitzy - 09 Mar 2011 08:34 - 257 of 436
Buy buy buy..
goldfinger
- 28 Mar 2011 15:19
- 258 of 436
Huge broker upgrade just appeared on Matra.........
Matra Petroleum
Corporate 9.4
147.4% Matrix
Target SP 9.4p 147.7% upside.
Matra Petroleum
Corporate 9.4
147.4% Matrix
Target SP 9.4p 147.7% upside.
driver
- 28 Mar 2011 15:30
- 259 of 436
goldfinger
Cheers gf any chance of a link or what broker.
Cheers gf any chance of a link or what broker.
driver
- 28 Mar 2011 16:55
- 260 of 436
gf
Thats an old brokers note apparently Im out of these at the moment backed into SOU.
Thats an old brokers note apparently Im out of these at the moment backed into SOU.
goldfinger
- 05 Apr 2011 14:17
- 261 of 436
Just taken this from IG broker list at lunch time... is thier a mantra rather than a matra??????????
if not then it refering to our stock........
Broker Upgrade....
Mantra Petroleum Corporate 9.4p 218.6% Matrix
9.4p SP target 218.6 % upside.
if not then it refering to our stock........
Broker Upgrade....
Mantra Petroleum Corporate 9.4p 218.6% Matrix
9.4p SP target 218.6 % upside.
mitzy - 20 Jul 2011 08:54 - 262 of 436
Another disaster for shareholders..
mitzy - 17 Aug 2011 09:11 - 263 of 436
Down 25% now sub 1p.
mitzy - 03 Nov 2011 08:08 - 264 of 436
What a joker this is.
driver
- 03 Nov 2011 15:11
- 265 of 436
Not good news for MTAers down to .65
http://moneyam.uk-wire.com/cgi-bin/articles/201111030700213948R.html
http://moneyam.uk-wire.com/cgi-bin/articles/201111030700213948R.html
mitzy - 11 Nov 2011 08:34 - 266 of 436
RNS re placing 0.85mill raised.
3 monkies - 10 Apr 2012 13:50 - 267 of 436
These have gone up today if anyone still holds.
Balerboy
- 10 Apr 2012 19:48
- 268 of 436
yep i'm still in.,.
3 monkies - 10 Apr 2012 20:05 - 269 of 436
Sorry I forgot to research who had been holding these for years before I wrote the above - hope that it comes right for you all - looks like it has been a long haul and hope you get there in the end.
gibby - 11 Apr 2012 08:29 - 270 of 436
was considering buying back in here for a punt - after todays rns @ .8 think i'll leave for a while as should drop below this at some point in traditional fashion imo - 3p here seems a long time ago now - gla
gibby - 11 Apr 2012 08:30 - 271 of 436
mitzy agreed one disaster after another here
driver
- 12 Apr 2012 12:32
- 272 of 436
Im back in on these.
Snubbed TNK-BP exec plans comeback with oil minnow
(Reuters) - Maxim Barsky, the high-flying executive who quit BP's Russian joint venture in frustration at not being given its top job, is planning a comeback by buying into minnow Matra Petroleum and building it into a multi-billion dollar business.
The 38-year-old Russian is hoping to follow in the footsteps of former BP boss Tony Hayward, who established bid vehicle Vallares with financier Nathaniel Rothschild after he left BP in the wake of the Gulf of Mexico oil spill.
Vallares bought Kurdistan-focused Genel Energy and is now worth $2.4 billion, while the shares Hayward received as part of the deal are worth millions of pounds.
Barsky is buying a 29.8 percent stake in Russia-focused Matra for 4.6 million pounds ($7.3 million), the company said on Wednesday.
Subject to the approval of Matra's shareholders, he will buy shares at 0.8 pence apiece, below Tuesday's closing price of 1.14 pence, and meaning he could make an immediate profit.
Barsky's main contribution to the group will be to help find acquisition targets and to bring in funding from Russian and other sources to fund deals, Matra Managing Director Peter Hind told Reuters in a telephone interview.
Barsky left his role as deputy chief executive and CEO designate at TNK-BP, Russia's third-largest oil producer, in October, after BP and its Russian oligarch partners declined to elevate him to the top job.
Barsky told Reuters on Wednesday he was seeking to replicate his success at Western Siberian Resources, another Russia-focused oil producer, which he led through rapid growth from 2004 until 2008, when it merged with Alliance Oil Company in a $2.5 billion deal.
He will initially look for acquisition targets in Russia, in areas such as Orenburg and the Timan-Pechora region, he said, adding the group would look overseas as well, including at targets in Latin America and East Africa.
"I do not think it is possible in Russia to build a significant independent player, mainly because of the taxation," he said in a telephone interview.
Matra has agreed to issue Barsky warrants to subscribe for new shares at an exercise price of 1.3 pence apiece if he introduces a suitable acquisition target to the firm in the next 12 months.
The warrants would entitle Barsky to 5 percent of any new shares Matra issues to make the acquisition.
Matra shares were down 12 percent at 0.98 pence in mid-morning trade. Matra said the issue price of Barsky's stock reflected the fact the deal was negotiated before a recent run-up in the shares.
The deal would make Barsky Matra's largest shareholder ahead of Israel's Delek International Energy, which currently holds 29.3 percent, according to Thomson Reuters data.
Delek was not immediately available to comment.
Barsky will be invited to join the board of Matra as a non-executive director.
Snubbed TNK-BP exec plans comeback with oil minnow
(Reuters) - Maxim Barsky, the high-flying executive who quit BP's Russian joint venture in frustration at not being given its top job, is planning a comeback by buying into minnow Matra Petroleum and building it into a multi-billion dollar business.
The 38-year-old Russian is hoping to follow in the footsteps of former BP boss Tony Hayward, who established bid vehicle Vallares with financier Nathaniel Rothschild after he left BP in the wake of the Gulf of Mexico oil spill.
Vallares bought Kurdistan-focused Genel Energy and is now worth $2.4 billion, while the shares Hayward received as part of the deal are worth millions of pounds.
Barsky is buying a 29.8 percent stake in Russia-focused Matra for 4.6 million pounds ($7.3 million), the company said on Wednesday.
Subject to the approval of Matra's shareholders, he will buy shares at 0.8 pence apiece, below Tuesday's closing price of 1.14 pence, and meaning he could make an immediate profit.
Barsky's main contribution to the group will be to help find acquisition targets and to bring in funding from Russian and other sources to fund deals, Matra Managing Director Peter Hind told Reuters in a telephone interview.
Barsky left his role as deputy chief executive and CEO designate at TNK-BP, Russia's third-largest oil producer, in October, after BP and its Russian oligarch partners declined to elevate him to the top job.
Barsky told Reuters on Wednesday he was seeking to replicate his success at Western Siberian Resources, another Russia-focused oil producer, which he led through rapid growth from 2004 until 2008, when it merged with Alliance Oil Company in a $2.5 billion deal.
He will initially look for acquisition targets in Russia, in areas such as Orenburg and the Timan-Pechora region, he said, adding the group would look overseas as well, including at targets in Latin America and East Africa.
"I do not think it is possible in Russia to build a significant independent player, mainly because of the taxation," he said in a telephone interview.
Matra has agreed to issue Barsky warrants to subscribe for new shares at an exercise price of 1.3 pence apiece if he introduces a suitable acquisition target to the firm in the next 12 months.
The warrants would entitle Barsky to 5 percent of any new shares Matra issues to make the acquisition.
Matra shares were down 12 percent at 0.98 pence in mid-morning trade. Matra said the issue price of Barsky's stock reflected the fact the deal was negotiated before a recent run-up in the shares.
The deal would make Barsky Matra's largest shareholder ahead of Israel's Delek International Energy, which currently holds 29.3 percent, according to Thomson Reuters data.
Delek was not immediately available to comment.
Barsky will be invited to join the board of Matra as a non-executive director.
3 monkies - 12 Apr 2012 12:56 - 273 of 436
Must admit I bought into these 3 weeks ago only £500 with spead 0.90 so am making so far so good. Makes a change for me somewhat. GL
driver
- 12 Apr 2012 13:03
- 274 of 436
3 M
I sold a while back at 3.1 so nice to be back in below the 2p. Lots going on and plenty of oil down there MTA could go anywhere from here.
I sold a while back at 3.1 so nice to be back in below the 2p. Lots going on and plenty of oil down there MTA could go anywhere from here.
3 monkies - 12 Apr 2012 13:06 - 275 of 436
Would be nice driver.
driver
- 12 Apr 2012 16:32
- 276 of 436
Nice finish same again tomorrow please.
3 monkies - 12 Apr 2012 17:37 - 277 of 436
Been out all afternoon, a nice welcome sight to come home to - wonder if it can sustain at these levels?
gibby - 12 Apr 2012 21:29 - 278 of 436
drat drat and double drat - out all day today missed the news and all this!!! but congats to anyone who took advantage gla
driver
- 14 Apr 2012 17:02
- 279 of 436
Maxim Barsky: from TNK-BP to…Matra Petroleum
http://ftalphaville.ft.com/blog/2012/04/11/957021/maxim-barsky-from-tkn-bp-to-matra-petroleum/
http://www.businessrevieweurope.eu/business_leaders/barsky-swoops-back-into-the-market
http://ftalphaville.ft.com/blog/2012/04/11/957021/maxim-barsky-from-tkn-bp-to-matra-petroleum/
http://www.businessrevieweurope.eu/business_leaders/barsky-swoops-back-into-the-market
3 monkies - 15 Apr 2012 18:46 - 280 of 436
These were above 20p 6 years ago - I would be happy to make 3p and am sure those holding at 3p and above would be happy to get their money out.
driver
- 16 Apr 2012 14:43
- 281 of 436
3M
That’s more like it I think you might see your 3p sooner than you think.
That’s more like it I think you might see your 3p sooner than you think.
3 monkies - 16 Apr 2012 14:47 - 282 of 436
Yes driver it is more like it - a little hair raising this morning but okay at the moment. GL
3 monkies - 16 Apr 2012 14:54 - 283 of 436
In auction as some say on this board!!! Wowzers.
driver
- 16 Apr 2012 18:04
- 284 of 436
Nice finish looks like the word is finally getting out regarding the Max effect.
driver
- 18 Apr 2012 10:28
- 285 of 436
PRESS RELEASE
Matra Petroleum plc
("Matra" or the "Company")
Notice of EGM
Matra today issued notice to shareholders that an Extraordinary General Meeting will be held at the offices of SGH Martineau LLP at 5th Floor, One America Square, Crosswall, London EC3N 2SG on the 9th May 2012 at 11 am.
Full details of the EGM are being mailed today to shareholders and are also available on the Company's website at http://www.matrapetroleum.com/c/Home/1.aspx
Notice of Extraordinary General Meeting
http://www.lunarsafari.com/docvault/MatraPetroleum.com/Matra%20-%20EGM%202012%20final.pdf
Matra Petroleum plc
("Matra" or the "Company")
Notice of EGM
Matra today issued notice to shareholders that an Extraordinary General Meeting will be held at the offices of SGH Martineau LLP at 5th Floor, One America Square, Crosswall, London EC3N 2SG on the 9th May 2012 at 11 am.
Full details of the EGM are being mailed today to shareholders and are also available on the Company's website at http://www.matrapetroleum.com/c/Home/1.aspx
Notice of Extraordinary General Meeting
http://www.lunarsafari.com/docvault/MatraPetroleum.com/Matra%20-%20EGM%202012%20final.pdf
driver
- 20 Apr 2012 15:05
- 286 of 436
The sp is motoring today with the Max effect up 14%
driver
- 23 Apr 2012 10:27
- 287 of 436
Still on the up 24% going good up nearlly 100% since I bought back in.
driver
- 23 Apr 2012 10:41
- 288 of 436
From the other other side BMD
It’s been a fantastic few weeks for Matra Petroleum holders. The news that Matra had after a long chase finally secured the involvement of one of Russia’s big oil hitters certainly took most by surprise.
Barskiy; it needs to be remembered has come over from a very influential position at TNK-BP. His whole history is one of success after success, whether that be in finance or oil. In 2004 he became Managing Director of West Siberian Resources. The group merged with Alliance Oil and its market capitalisation grew from less than US$100 million to US$3 billion. The rise in capitalisation was approx’ 3000%. What’s interesting is that WSR production assets were located in Russia’s Tomsk region, Timano-Pechora and Volga-Urals provinces. (The Urals are Matra’s theatre of operations.) One of the consultant companies on the deal was Morgan Stanley who as luck would have it have helped the Blog from time to time.
I spoke to a former employee of Morgan Stanley on Friday. Her comments were interesting. “Maxim Barskiy’s involvement with Matra will open many doors hitherto closed to small foreign oilers. It will only get better for the company Barskiy is a winner” It’s going to keep rising.
There’s an awful lot of confusion and blatant lies currently being posted online as evidenced by our emails. I’d urge Members to stick to their strategy regardless of whether it’s to sell, derisk or hold. Do not make any decisions based on crude anonymous chatroom comments.
The current position in Orenburg goes well. Oil flowing from A13. Seismic/A14 plans about to progress very quickly once the EGM confirms what we here already know. Maxim will be on the board come the 9th of May. The stock is certainly on a bounce and will continue heading towards 4/5p pre Seismic A14 drill. Do not be fooled. Matra have changed the game. The stock could hit 10p on speculation alone. If you want to research or read comments then you’d do much better reading comments from informed sources such as the one below.
“Under Maxim Barskiy’s leadership TNK-BP achieved record results in 2010 and continued to grow in 2011. The Company’s effective expansion beyond its traditional markets, namely the successful acquisition of assets in Vietnam and Venezuela and the planned Solimoes project transaction in Brazil, has laid the foundation for TNK-BP’s transformation into an international oil and gas player. These accomplishments were made possible thanks to Maxim’s focused efforts,” said Mikhail Fridman, Executive Chairman of TNK-BP.
Viva!
Daniel.
It’s been a fantastic few weeks for Matra Petroleum holders. The news that Matra had after a long chase finally secured the involvement of one of Russia’s big oil hitters certainly took most by surprise.
Barskiy; it needs to be remembered has come over from a very influential position at TNK-BP. His whole history is one of success after success, whether that be in finance or oil. In 2004 he became Managing Director of West Siberian Resources. The group merged with Alliance Oil and its market capitalisation grew from less than US$100 million to US$3 billion. The rise in capitalisation was approx’ 3000%. What’s interesting is that WSR production assets were located in Russia’s Tomsk region, Timano-Pechora and Volga-Urals provinces. (The Urals are Matra’s theatre of operations.) One of the consultant companies on the deal was Morgan Stanley who as luck would have it have helped the Blog from time to time.
I spoke to a former employee of Morgan Stanley on Friday. Her comments were interesting. “Maxim Barskiy’s involvement with Matra will open many doors hitherto closed to small foreign oilers. It will only get better for the company Barskiy is a winner” It’s going to keep rising.
There’s an awful lot of confusion and blatant lies currently being posted online as evidenced by our emails. I’d urge Members to stick to their strategy regardless of whether it’s to sell, derisk or hold. Do not make any decisions based on crude anonymous chatroom comments.
The current position in Orenburg goes well. Oil flowing from A13. Seismic/A14 plans about to progress very quickly once the EGM confirms what we here already know. Maxim will be on the board come the 9th of May. The stock is certainly on a bounce and will continue heading towards 4/5p pre Seismic A14 drill. Do not be fooled. Matra have changed the game. The stock could hit 10p on speculation alone. If you want to research or read comments then you’d do much better reading comments from informed sources such as the one below.
“Under Maxim Barskiy’s leadership TNK-BP achieved record results in 2010 and continued to grow in 2011. The Company’s effective expansion beyond its traditional markets, namely the successful acquisition of assets in Vietnam and Venezuela and the planned Solimoes project transaction in Brazil, has laid the foundation for TNK-BP’s transformation into an international oil and gas player. These accomplishments were made possible thanks to Maxim’s focused efforts,” said Mikhail Fridman, Executive Chairman of TNK-BP.
Viva!
Daniel.
driver
- 23 Apr 2012 15:28
- 289 of 436
Monday, April 23, 2012
Monday's most followed: Matra Petroleum, Bahamas Petroleum, ViaLogy, Eckoh, Kea Petroleum, Rolls-Royce
http://www.proactiveinvestors.co.uk/companies/market_reports/41803/mondays-most-followed-matra-petroleum-bahamas-petroleum-vialogy-eckoh-kea-petroleum-rolls-royce-41803.html
Monday's most followed: Matra Petroleum, Bahamas Petroleum, ViaLogy, Eckoh, Kea Petroleum, Rolls-Royce
http://www.proactiveinvestors.co.uk/companies/market_reports/41803/mondays-most-followed-matra-petroleum-bahamas-petroleum-vialogy-eckoh-kea-petroleum-rolls-royce-41803.html
Balerboy
- 23 Apr 2012 16:07
- 290 of 436
very tempted to top up here.,.
driver
- 23 Apr 2012 16:29
- 291 of 436
Bb
I thought I was the only one here 40% up 3p+ tomorrow IMO
I thought I was the only one here 40% up 3p+ tomorrow IMO
2517GEORGE
- 23 Apr 2012 16:32
- 292 of 436
Must confess I thought about buying some @ 2.54p earlier today, like the shrewd cookie I am, I decided against it.
2517
2517
Balerboy
- 23 Apr 2012 16:35
- 293 of 436
same here george, looked at it poised over button to buy then thought it was monday, lets wait till tomorrow and see.,.
D, am nearly breakeven again now so quite happy to hold.,.
D, am nearly breakeven again now so quite happy to hold.,.
2517GEORGE
- 23 Apr 2012 16:38
- 294 of 436
bb I don't hold any MTA so would have been my first dip into them. I did buy some BBY today though.
2517
2517
driver
- 23 Apr 2012 16:40
- 295 of 436
2517
You would have bought at 0800hrs if you had read Drivers tips over the w/end LOL
http://www.moneyam.com/InvestorsRoom/posts.php?tid=9585#lastread
You would have bought at 0800hrs if you had read Drivers tips over the w/end LOL
http://www.moneyam.com/InvestorsRoom/posts.php?tid=9585#lastread
Balerboy
- 23 Apr 2012 16:55
- 296 of 436
you lost a bit of money on bby then G. I have TW and BDEV on long limit sell for a little profit if they hit, but not very hopeful.,.
2517GEORGE
- 23 Apr 2012 19:46
- 297 of 436
bb no not yet paid 259p exactly. Driver thanks for that, must make a note, always read Drivers tips over the w/end.
2517
2517
driver
- 24 Apr 2012 08:10
- 298 of 436
Good start 10% up
2517GEORGE
- 24 Apr 2012 10:38
- 299 of 436
Back to where I was contemplating buying yesterday.
2517
2517
Balerboy
- 24 Apr 2012 14:10
- 300 of 436
Now what do we do???
halifax - 24 Apr 2012 14:17 - 301 of 436
little oilies not flavour of the month.
2517GEORGE
- 24 Apr 2012 14:44
- 302 of 436
bb decisions, decisions. I do have quite a few small oilies/goldies and I have been building up my cash in order to buy some cheap ftse stock, I started yesterday with BBY, but I feel there is more weakness to come so keeping money aside.
2517
2517
driver
- 24 Apr 2012 15:11
- 303 of 436
GEORGE
IMO you should buy into MTA this will gain momentum leading up to the Extraordinary General Meeting (9 May) and go up on the day of the meeting when we vote MB in. After that speculation will send this higher on what acquisition MB will make so plenty to come here.
IMO you should buy into MTA this will gain momentum leading up to the Extraordinary General Meeting (9 May) and go up on the day of the meeting when we vote MB in. After that speculation will send this higher on what acquisition MB will make so plenty to come here.
2517GEORGE
- 24 Apr 2012 15:21
- 304 of 436
driver-------I'll give it some thought but some of the oilies I have were promising rich rewards, maybe if MTA drop back to 2.50 ish again I'll chuck a few bob at them.
2517
2517
driver
- 24 Apr 2012 15:23
- 305 of 436
GEORGE
Watch this space.
Watch this space.
Balerboy
- 25 Apr 2012 08:29
- 306 of 436
heading that way george, dropping again. not one to jump into too quick.,.
2517GEORGE
- 25 Apr 2012 09:45
- 307 of 436
Here we are again 2.50p ish, what to do. I notice the co will need to raise funds for well A-14 I think it's called and with three placings last year at a very much lower sp the attractions for the board to raise money at around todays price seem obvious. I already hold 11 amoeba (poached from cynic) oily/goldie stocks so do I want/need another?
2517
2517
driver
- 25 Apr 2012 18:19
- 308 of 436
Still holding here. This needed a retrace still looking good from here plenty of oil with the Max factor a dream combination.
2517GEORGE
- 26 Apr 2012 09:44
- 309 of 436
Down around 17% atm, good decision not to buy yesterday.
2517
2517
2517GEORGE
- 26 Apr 2012 12:14
- 310 of 436
Good recovery.
2517
2517
driver
- 26 Apr 2012 13:09
- 311 of 436
GEORGE
Are you in yet.
Are you in yet.
2517GEORGE
- 26 Apr 2012 13:35
- 312 of 436
No I'm not driver, thought about it again at 1.94p (post 309) but decided I have enough oilies (post 307). Excellent turnaround today good luck to you and all holders.
2517
2517
driver
- 26 Apr 2012 14:02
- 313 of 436
GEORGE
Cheers.
Cheers.
driver
- 27 Apr 2012 10:04
- 314 of 436
Going back to 3p
driver
- 02 May 2012 15:38
- 315 of 436
sp picking up again 6.5 up
driver
- 03 May 2012 17:29
- 316 of 436
Still on the up here 15% ahead of M Barskiy joining the ranks of MTA still not to late should see 3p tomorrow.
driver
- 04 May 2012 11:16
- 317 of 436
For those that haven’t seen this a must watch and before MB is even on board.
Matra Petroleum Peter Hind --CEO - 16/2/12
http://www.youtube.com/watch?v=gwNlV8w2x-I
Matra Petroleum Peter Hind --CEO - 16/2/12
http://www.youtube.com/watch?v=gwNlV8w2x-I
2517GEORGE
- 04 May 2012 16:03
- 318 of 436
A beacon in the gloom.
2517
2517
driver
- 04 May 2012 16:53
- 319 of 436
GEORGE
A very bright beacon 3p+ next week.
A very bright beacon 3p+ next week.
Balerboy
- 04 May 2012 17:22
- 320 of 436
you said that last time driver, now get it right.,. :)
driver
- 04 May 2012 18:17
- 321 of 436
bb
It will get there in the End, I think that a song.
It will get there in the End, I think that a song.
Balerboy
- 08 May 2012 08:12
- 322 of 436
wish I'd bought somemore at 1.98p nice start over 3p today.,.
3 monkies - 08 May 2012 09:21 - 323 of 436
Dropped slightly wonder what the meeting will bring?
driver
- 08 May 2012 14:42
- 324 of 436
3M
The meeting will bring a rise in the sp I hope, I’m sure there are investors waiting for the endorsement of Maxim Barsky tomorrow before getting on board that will under right the share price before the oil starts flowing or any acquisition targets he has in mind. Still plenty to come here exciting times ahead.
The meeting will bring a rise in the sp I hope, I’m sure there are investors waiting for the endorsement of Maxim Barsky tomorrow before getting on board that will under right the share price before the oil starts flowing or any acquisition targets he has in mind. Still plenty to come here exciting times ahead.
3 monkies - 08 May 2012 14:59 - 325 of 436
I do hope so driver and that I am not being too greedy by hanging on but it sounds promising. GL to us all I think we deserve it.
driver
- 08 May 2012 15:16
- 326 of 436
3M
We always deserve it.
We always deserve it.
3 monkies - 08 May 2012 15:20 - 327 of 436
I know but it doesn't happen very often, not for me anyway!!
driver
- 08 May 2012 17:15
- 328 of 436
3m
You got loads of money.
You got loads of money.
dreamcatcher
- 08 May 2012 17:17
- 329 of 436
Can I pinch that lol
3 monkies - 08 May 2012 17:29 - 330 of 436
Such a shame my bank manager doesn't think I've loads of money and I haven't seen any growing out of any of my orifices well not the last time I looked lol!!!! The money tree in the garden got frost bite a few years ago, it was called Share Dealing HAHAHA!!!
3 monkies - 08 May 2012 17:29 - 331 of 436
Such a shame my bank manager doesn't think I've loads of money and I haven't seen any growing out of any of my orifices well not the last time I looked lol!!!! The money tree in the garden got frost bite a few years ago, it was called Share Dealing HAHAHA!!!
driver
- 08 May 2012 18:14
- 332 of 436
dream
Pinch what ever you want.
Pinch what ever you want.
dreamcatcher
- 08 May 2012 18:16
- 333 of 436
oh ok :-)) you will set up rumours.
3 monkies - 08 May 2012 18:23 - 334 of 436
Oh! Dear at least you are keeping me going. Thank You.
3 monkies - 09 May 2012 13:52 - 335 of 436
Wonder if the results of the meeting published this afternoon will make a difference?
driver
- 09 May 2012 17:17
- 336 of 436
Only three blues on my watch list out of 200 not a good day for any news.
All we needed to here today is below that’s good enough for me that means MB is now on board sit back and enjoy the ride.
Results of EGM
The Board of Matra Petroleum is pleased to announce that the resolutions proposed at the Company's Extraordinary General Meeting held today were duly passed by shareholders.
All we needed to here today is below that’s good enough for me that means MB is now on board sit back and enjoy the ride.
Results of EGM
The Board of Matra Petroleum is pleased to announce that the resolutions proposed at the Company's Extraordinary General Meeting held today were duly passed by shareholders.
3 monkies - 09 May 2012 17:27 - 337 of 436
I hope it is a good ride - suppose things may fluctuate until after the 16th May.
driver
- 10 May 2012 10:06
- 338 of 436
From the other side courtesy of looneytune who was at the EGM Yesterday..
EGM Review:
Present: in order of seating - Bill Guest, Michael Jenkins, Neil Hodgson, Peter Hind, Maxim Barskiy. (correct spelling)
Introduction by Sir Michael Jenkins
Voting - all resolutions carried.
Peter Hind then chaired the middle section of the EGM, he starts by saying that unlike an AGM there will be no presentation.
He had expected more Private investors. He joked that there were more Matra's advisors than investors.
PH had been on the road a lot reviewing all options from businessman/institutions etc. PH had known of MB but never spoke in person. He went on to talk about the success behind MB.
Because of his experience and exposure at TNK and that he has access to deals that Matra could not even contemplate. That was in the main the reason for bringing him onboard.
The negotiations with MB started some 2 months ago whilst the SP was lower than 0.8p. There were no shortage of offers regarding funding however the MB deal was favoured by Matra.
It's a very good deal for Matra, the market clearly agree hence the rise in SP. MB is not a passive investor he is very much hands on. He also commented on investors from blogs expecting MB to be sworn in so to speak and then expect a deal to be announced - the only announcement today will be to confirm todays resolutions.
There would still to be formal board meetings to discuss future events. The meeting was then handed over to MB.
He started off by talking about his background/experience, i would like to point out at this stage that he sounds like Robbie Coltrane from the James Bond movie!!!!!! He is from Russia/Ukraine, started in the financial business/investment management which led him to the oil business via various deals that came his way. He goes on to talk about West Siberian and TNK all of which is public knowledge but it was good to hear it from the horses mouth. He talked about Russian taxation. He is approached on a regular basis with investment opportunities but liked this Company.
Questions: Why did he choose Matra Petroleum? It was by accident. He stated that he was not looking but was approached and liked the look of the proposal.
Was it anything to do with the potential of the Soko field or was it for an acquisition vehicle for new business? Wait for it..........he said BOTH!!! He knows Orenburg and knows the potential of the area, also to introduce acquisitions.
What was the purpose of postponing A14? PH stepped in and said he was better placed to answer. The reason was that although the technical opinion was they didn't need seismic to determine the location it made sense that now MB was brought in it was logical to postpone it a few months. They would benefit further from 3D seismics and MB's experience and contacts from WSR. A14 is still planned for this year.
Another question from an investor - i take it Delek didn't vote? PH you obviously didn't hear the numbers there were over 400million votes!! Jokes.
Delek still committed, still fully supportive and Gideon Tadmor still on the board.
Are Delek more amenable to putting more money into Matra - PH said ask GTadmor.
In the past you spoke about other options in Orenburg is this still your focus and you are not looking in the Ukraine are you? PH said that no one has mentioned the Ukraine and Orenburg is a sensible place to start looking especially as MB has knowledge of this area. Every acquisition opportunity will require board approval and perhaps even shareholder approval.
The reduced MET has now come into force.
There is no tax advantage for MB buying into a UK company or indeed a Russian Company.
Another investor (who was very late) asked MB why he invested in Matra and Maxim said "you were late"!!! That question has been asked but he repeated his answer. Again he was introduced via a banker.
Another question - have you investment in other companies you can tell us about?
There are no other conflicts with Matra but he has other portfolio's. Directors have to go through serious due diligence said PH.
Investor asks Maxim are you Ukranian or Russian? MB answers I am Ukranian Jewish!!!! This was in reference to Russia's relationship with Ukraine and the cutting off of Gas supplies etc....
Question - are Matra still selling oil domestically - yes they filled the onsite tanks during the thaw. He wished it was 1000bopd!!
MB wants to broaden the scale of Matra.
Meeting closed. BoD stayed behind to answer further questions.
All in all a good positive meeting.
Maxim Barskiy looks to be a hard character that takes no sh!t from anyone - a serious investor with a proven track record. Petr Hind and the BoD have done well here. Now Barskiy has to part with his £4.6million and Matra will commence the 3D seismics. I believe we will hear of an acquisition this year at the latest. This guy is focussed!!!!
All my opinion and my interpretation of what was said. Had a very long day so apologies for any typos and lousy grammar!!
The markets are grim but Matra looks very strong.
Edit: i reckon there were only 7 or 8 PI's (maximum)
EGM Review:
Present: in order of seating - Bill Guest, Michael Jenkins, Neil Hodgson, Peter Hind, Maxim Barskiy. (correct spelling)
Introduction by Sir Michael Jenkins
Voting - all resolutions carried.
Peter Hind then chaired the middle section of the EGM, he starts by saying that unlike an AGM there will be no presentation.
He had expected more Private investors. He joked that there were more Matra's advisors than investors.
PH had been on the road a lot reviewing all options from businessman/institutions etc. PH had known of MB but never spoke in person. He went on to talk about the success behind MB.
Because of his experience and exposure at TNK and that he has access to deals that Matra could not even contemplate. That was in the main the reason for bringing him onboard.
The negotiations with MB started some 2 months ago whilst the SP was lower than 0.8p. There were no shortage of offers regarding funding however the MB deal was favoured by Matra.
It's a very good deal for Matra, the market clearly agree hence the rise in SP. MB is not a passive investor he is very much hands on. He also commented on investors from blogs expecting MB to be sworn in so to speak and then expect a deal to be announced - the only announcement today will be to confirm todays resolutions.
There would still to be formal board meetings to discuss future events. The meeting was then handed over to MB.
He started off by talking about his background/experience, i would like to point out at this stage that he sounds like Robbie Coltrane from the James Bond movie!!!!!! He is from Russia/Ukraine, started in the financial business/investment management which led him to the oil business via various deals that came his way. He goes on to talk about West Siberian and TNK all of which is public knowledge but it was good to hear it from the horses mouth. He talked about Russian taxation. He is approached on a regular basis with investment opportunities but liked this Company.
Questions: Why did he choose Matra Petroleum? It was by accident. He stated that he was not looking but was approached and liked the look of the proposal.
Was it anything to do with the potential of the Soko field or was it for an acquisition vehicle for new business? Wait for it..........he said BOTH!!! He knows Orenburg and knows the potential of the area, also to introduce acquisitions.
What was the purpose of postponing A14? PH stepped in and said he was better placed to answer. The reason was that although the technical opinion was they didn't need seismic to determine the location it made sense that now MB was brought in it was logical to postpone it a few months. They would benefit further from 3D seismics and MB's experience and contacts from WSR. A14 is still planned for this year.
Another question from an investor - i take it Delek didn't vote? PH you obviously didn't hear the numbers there were over 400million votes!! Jokes.
Delek still committed, still fully supportive and Gideon Tadmor still on the board.
Are Delek more amenable to putting more money into Matra - PH said ask GTadmor.
In the past you spoke about other options in Orenburg is this still your focus and you are not looking in the Ukraine are you? PH said that no one has mentioned the Ukraine and Orenburg is a sensible place to start looking especially as MB has knowledge of this area. Every acquisition opportunity will require board approval and perhaps even shareholder approval.
The reduced MET has now come into force.
There is no tax advantage for MB buying into a UK company or indeed a Russian Company.
Another investor (who was very late) asked MB why he invested in Matra and Maxim said "you were late"!!! That question has been asked but he repeated his answer. Again he was introduced via a banker.
Another question - have you investment in other companies you can tell us about?
There are no other conflicts with Matra but he has other portfolio's. Directors have to go through serious due diligence said PH.
Investor asks Maxim are you Ukranian or Russian? MB answers I am Ukranian Jewish!!!! This was in reference to Russia's relationship with Ukraine and the cutting off of Gas supplies etc....
Question - are Matra still selling oil domestically - yes they filled the onsite tanks during the thaw. He wished it was 1000bopd!!
MB wants to broaden the scale of Matra.
Meeting closed. BoD stayed behind to answer further questions.
All in all a good positive meeting.
Maxim Barskiy looks to be a hard character that takes no sh!t from anyone - a serious investor with a proven track record. Petr Hind and the BoD have done well here. Now Barskiy has to part with his £4.6million and Matra will commence the 3D seismics. I believe we will hear of an acquisition this year at the latest. This guy is focussed!!!!
All my opinion and my interpretation of what was said. Had a very long day so apologies for any typos and lousy grammar!!
The markets are grim but Matra looks very strong.
Edit: i reckon there were only 7 or 8 PI's (maximum)
markymar
- 10 May 2012 10:23
- 339 of 436
Thanx Driver for that.
3 monkies - 11 May 2012 10:57 - 340 of 436
A lot of buying here today.
driver
- 11 May 2012 15:50
- 341 of 436
From the other thread I don’t think we are going to see 2p again before buying let alone 1.5 Max is now on board and with his expertise and contacts we could not only see A14 up and running but may be half a dozen more wells on the Sokolovskoe oil field all producing 1000bpd that would be nice and what would the sp be then and that’s before any acquisitions Max has in mind.
From the RNS
Mr. Barskiy's involvement with Matra is expected to significantly enhance new venture opportunities for the Company and will mean the Board can now consider a wider range of growth opportunities than those that were previously available to it. This includes potential acquisition opportunities in other parts of Russia in the short term and potential expansion internationally in the medium term.
From the RNS
Mr. Barskiy's involvement with Matra is expected to significantly enhance new venture opportunities for the Company and will mean the Board can now consider a wider range of growth opportunities than those that were previously available to it. This includes potential acquisition opportunities in other parts of Russia in the short term and potential expansion internationally in the medium term.
2517GEORGE
- 14 May 2012 09:09
- 342 of 436
Not far off 2p driver, probably due to the new chap's holding of a mere 575m shares.
2517
2517
driver
- 14 May 2012 14:12
- 343 of 436
GEORGE
Nowhere near 2p up we go. Max is holding those shares he won’t be selling for a while...
Allotment of 575,000,000 New Shares and Appointment of Maxim Barskiy to the Board
http://www.moneyam.com/action/news/showArticle?id=4368062
Nowhere near 2p up we go. Max is holding those shares he won’t be selling for a while...
Allotment of 575,000,000 New Shares and Appointment of Maxim Barskiy to the Board
http://www.moneyam.com/action/news/showArticle?id=4368062
2517GEORGE
- 14 May 2012 14:23
- 344 of 436
That's a bit selective driver, they only started moving upfrom around 1.30pm.
2517
2517
3 monkies - 14 May 2012 14:40 - 345 of 436
There is a research note on BMD's website for members only - does anybody know what it says as I am not a member?
driver
- 14 May 2012 15:08
- 346 of 436
3m
No but we will soon find out no doubt.
No but we will soon find out no doubt.
3 monkies - 15 May 2012 08:38 - 347 of 436
BMD board may have been to tell us the chap is leaving and a reshuffle of the board - who knows. At lease they are blue at this moment in time.
driver
- 15 May 2012 10:03
- 348 of 436
Not a very high price target but it will do for now.
FoxDavies Daily Monitor - Matra Petroleum, Cove, JKX
Tuesday, May 15, 2012
Matra Petroleum (MTA LN, 2.3p, ▼ 2.1%) - New Phase?: The departure of Neil Hodgson so soon after the arrival of Maxim Barsky marks the end of the past period of development, and the start of what we believe will be a period of aggressive growth. However, the remaining management has an obligation to shareholders to manage this transition period. These are exciting times for Matra, and at this stage we are reiterating our BUY recommendation and 3.9p price target.
http://www.oilvoice.com/n/FoxDavies_Daily_Monitor_Matra_Petroleum_Cove_JKX/37bb4da88d8b.aspx#ixzz1uvMxtJQI
FoxDavies Daily Monitor - Matra Petroleum, Cove, JKX
Tuesday, May 15, 2012
Matra Petroleum (MTA LN, 2.3p, ▼ 2.1%) - New Phase?: The departure of Neil Hodgson so soon after the arrival of Maxim Barsky marks the end of the past period of development, and the start of what we believe will be a period of aggressive growth. However, the remaining management has an obligation to shareholders to manage this transition period. These are exciting times for Matra, and at this stage we are reiterating our BUY recommendation and 3.9p price target.
http://www.oilvoice.com/n/FoxDavies_Daily_Monitor_Matra_Petroleum_Cove_JKX/37bb4da88d8b.aspx#ixzz1uvMxtJQI
3 monkies - 15 May 2012 10:26 - 349 of 436
Agreed driver 3.9 not a very high price but it may get moved higher over the next few months, we will have to wait and see. So long as it keeps moving upwards and doesn't fall down the slippery slope. GL
2517GEORGE
- 15 May 2012 11:56
- 350 of 436
MTA doing really well this morning.
2517
2517
3 monkies - 15 May 2012 12:04 - 351 of 436
A nice surprise. Long may it continue.
3 monkies - 15 May 2012 12:13 - 352 of 436
Seventeen and a half million just sold in one go UGH!
3 monkies - 15 May 2012 12:50 - 353 of 436
There were two of those so wonder if one was a repeat?
2517GEORGE
- 15 May 2012 13:22
- 354 of 436
Yeah I got fed up ha! ha!
2517
2517
3 monkies - 15 May 2012 13:32 - 355 of 436
It was me really, Oh How I Wish.
2517GEORGE
- 15 May 2012 13:40
- 356 of 436
I don't hold these at all, although I've come close to buying a few times. Anyway good luck.
2517
2517
3 monkies - 15 May 2012 16:45 - 357 of 436
Think this did well to sustain being blue after all the sells todayn (if they were sells that is).
driver
- 15 May 2012 16:49
- 358 of 436
3m
The 17m looks like a roll, don't no about the last big one but still looking very strong looking forward to 12p
The 17m looks like a roll, don't no about the last big one but still looking very strong looking forward to 12p
driver
- 15 May 2012 16:59
- 359 of 436
Dr Neil Hodgson. Matra Petroleum.
http://brokermandaniel.com/2012/05/15/dr-neil-hodgson-matra-petroleum/
http://brokermandaniel.com/2012/05/15/dr-neil-hodgson-matra-petroleum/
3 monkies - 15 May 2012 19:00 - 360 of 436
Driver
The two huge sells were only a few seconds away from each other so I would suggest it was a repeat. Obviously the new man needs to make a stand I would suggest and Dr. Neil Hodgson has obviously felt it time to move on. It did well to stay blue nevertheless and roll on anything on the upwards trend.
The two huge sells were only a few seconds away from each other so I would suggest it was a repeat. Obviously the new man needs to make a stand I would suggest and Dr. Neil Hodgson has obviously felt it time to move on. It did well to stay blue nevertheless and roll on anything on the upwards trend.
3 monkies - 18 May 2012 17:35 - 361 of 436
These up a little today driver, not many blue on my list or anyone elses I wouldn't think. Your suggestion of 12p would be a dream come true.
driver
- 18 May 2012 18:41
- 362 of 436
3m
Yes a nice stock to hold at the moment with all the red around.
Yes a nice stock to hold at the moment with all the red around.
3 monkies - 18 May 2012 19:02 - 363 of 436
Pretty please will you let me know when you think it is time to get out or stay in. I am aware we don't have crystal balls so to speak but I think that the Russian/Eurcrain has a lot to offer and so must the markets??? At this moment in time.
driver
- 20 May 2012 13:49
- 364 of 436
3M
We will have to wait and see IMO if it does get into the 10-12p region it must of got there for a reason A14 producing, more wells on the way or an acquisition Max has made or is going to make. Will have to re-examine the sp if we get there. You can always sell half or top slice at any time on the way.
We will have to wait and see IMO if it does get into the 10-12p region it must of got there for a reason A14 producing, more wells on the way or an acquisition Max has made or is going to make. Will have to re-examine the sp if we get there. You can always sell half or top slice at any time on the way.
3 monkies - 20 May 2012 18:59 - 365 of 436
Mant thanks Driver I have only got 500 pounds invested in this and don't know how to top slice ;only thingh I can think it means is to sell half -- not a lot but will still be in profit, which would make as we know a change.
gibby - 20 May 2012 19:31 - 366 of 436
3ms true http://www.youtube.com/watch?v=6Wnw2-7N13A&feature=related
driver
- 21 May 2012 10:32
- 367 of 436
Matra Petroleum to be a £500 million company in 6 months
http://www.stockopedia.co.uk/content/matra-petroleum-to-be-a-500-million-company-in-6-months-66034/
http://www.stockopedia.co.uk/content/matra-petroleum-to-be-a-500-million-company-in-6-months-66034/
driver
- 21 May 2012 10:36
- 368 of 436
The board of Matra is very pleased to announce the appointment of Maxim Barskiy as Chief Executive of the Company with immediate effect
http://www.moneyam.com/action/news/showArticle?id=4372851
http://www.moneyam.com/action/news/showArticle?id=4372851
3 monkies - 21 May 2012 12:54 - 369 of 436
Would be nice to think it was a £500 million company in 6 months driver.
driver
- 21 May 2012 15:55
- 370 of 436
3m
Yes that would be nice if the Shares in Issue stays the same that would be about 26p
Yes that would be nice if the Shares in Issue stays the same that would be about 26p
3 monkies - 21 May 2012 16:23 - 371 of 436
They would probably do a b. awful consolidation. Shouldn't think we (me) would be that lucky.
gibby - 21 May 2012 21:06 - 372 of 436
lol gl http://www.youtube.com/watch?v=fZ0tRSLP1gw&feature=related
3 monkies - 22 May 2012 11:07 - 373 of 436
Not as good here as yesterday morning.
3 monkies - 22 May 2012 14:26 - 374 of 436
Cor blimey, every time I come back to look at these they are going further down!!!! We need some big buys not sells.
driver
- 22 May 2012 15:06
- 375 of 436
Early days the sp has a long way to go yet top up on the dips if you can.
3 monkies - 22 May 2012 15:33 - 376 of 436
No spare cash I am afraid too many outgoings at home at the moment sadly.
driver
- 28 May 2012 10:05
- 377 of 436
From The Other side
Observation
Opinion: No Opinion
Price: 2.48
translate with googleToday 09:38
Matra Barsky could buy with the AAR Spanish Vetra with assets in Colombia - newspaper
[2012-05-28 08:30:55] Matra Barsky, together with the AAR can buy a Spanish Vetra with assets in Colombia - newspaper
MOSCOW, May 28 - Prime. Independent oil and gas company Matra, the largest shareholder and CEO of which is the former deputy chairman of TNK-BP Maxim Barski, going along with the AAR consortium to buy a Spanish company Vetra, which owns 14 licenses for exploration projects in Colombia and service assets in Mexico, the transaction value estimated at $ 500 million, wrote on Monday, "Kommersant" newspaper, citing sources close to the negotiations.
AAR can be a co-investor in the transaction. In what is supposed to resell Vetra larger companies such as TNK-BP, the newspaper notes.
Matra has already sent a proposal to a potential partner in the transaction - Russian shareholders of TNK-BP, a consortium AAR (Alfa group, Mikhail Friedman, Access, Leonard Blavatnik and Viktor Vekselberg's Renova).
It is assumed that the company will create a joint venture, where Matra will be 50% plus one share. Maxim Barski has confirmed interest in the Vetra, in the AAR to comment, "Kommersant" refused.
Vetra - Spanish independent company, established in 2003 Humberto Calderon Berti, a former president of the Venezuelan PdVSA. It has assets in Peru, Ecuador, Mexico, Venezuela, Colombia and Trinidad and Tobago. However, the main focus of business Vetra in Columbia, where she owned shares in 14 blocks. According to sources, "Kommersant," their reserves by category 2P (probable) are estimated at 14 million barrels.
Moreover, Vetra is a large service contracts in Mexico have PeMex.
At AAR independent of TNK-BP's oil business there, exploration blocks in the Kurdistan consortium sold. According to sources, "Kommersant," Barsky suggested AAR become a financial investor in the project's operations will deal with Matra. While the consortium has not decided whether he is interesting deal, sources said publication.
If the deal goes through, Vetra could later be resold a large company, among the possible contenders - TNK-BP, which already operates in Latin America. In Venezuela, the company acquired a 40% BP Petroperija (production - about 650,000 tons per year), 26.6% - in Boqueron (375,000 tons) and 16.67% - in Petromonagas (5,5 million tons).
In addition, TNK-BP is a National Oil Consortium (PNC), which is jointly developing with PdVSA Junin-6. In April, the company closed its acquisition of 45% in the 21 block in the oil and gas basin Solimoyns for $ 1 billion, their resources is estimated at 2 billion barrels of oil equivalent.
Barsky was appointed deputy chairman of TNK-BP 1 June 2010 and led the company organizing the work of the Board and coordinating the activities of all employees. Last summer, he issued an ultimatum to shareholders of the company, which will leave it to the end of t
Observation
Opinion: No Opinion
Price: 2.48
translate with googleToday 09:38
Matra Barsky could buy with the AAR Spanish Vetra with assets in Colombia - newspaper
[2012-05-28 08:30:55] Matra Barsky, together with the AAR can buy a Spanish Vetra with assets in Colombia - newspaper
MOSCOW, May 28 - Prime. Independent oil and gas company Matra, the largest shareholder and CEO of which is the former deputy chairman of TNK-BP Maxim Barski, going along with the AAR consortium to buy a Spanish company Vetra, which owns 14 licenses for exploration projects in Colombia and service assets in Mexico, the transaction value estimated at $ 500 million, wrote on Monday, "Kommersant" newspaper, citing sources close to the negotiations.
AAR can be a co-investor in the transaction. In what is supposed to resell Vetra larger companies such as TNK-BP, the newspaper notes.
Matra has already sent a proposal to a potential partner in the transaction - Russian shareholders of TNK-BP, a consortium AAR (Alfa group, Mikhail Friedman, Access, Leonard Blavatnik and Viktor Vekselberg's Renova).
It is assumed that the company will create a joint venture, where Matra will be 50% plus one share. Maxim Barski has confirmed interest in the Vetra, in the AAR to comment, "Kommersant" refused.
Vetra - Spanish independent company, established in 2003 Humberto Calderon Berti, a former president of the Venezuelan PdVSA. It has assets in Peru, Ecuador, Mexico, Venezuela, Colombia and Trinidad and Tobago. However, the main focus of business Vetra in Columbia, where she owned shares in 14 blocks. According to sources, "Kommersant," their reserves by category 2P (probable) are estimated at 14 million barrels.
Moreover, Vetra is a large service contracts in Mexico have PeMex.
At AAR independent of TNK-BP's oil business there, exploration blocks in the Kurdistan consortium sold. According to sources, "Kommersant," Barsky suggested AAR become a financial investor in the project's operations will deal with Matra. While the consortium has not decided whether he is interesting deal, sources said publication.
If the deal goes through, Vetra could later be resold a large company, among the possible contenders - TNK-BP, which already operates in Latin America. In Venezuela, the company acquired a 40% BP Petroperija (production - about 650,000 tons per year), 26.6% - in Boqueron (375,000 tons) and 16.67% - in Petromonagas (5,5 million tons).
In addition, TNK-BP is a National Oil Consortium (PNC), which is jointly developing with PdVSA Junin-6. In April, the company closed its acquisition of 45% in the 21 block in the oil and gas basin Solimoyns for $ 1 billion, their resources is estimated at 2 billion barrels of oil equivalent.
Barsky was appointed deputy chairman of TNK-BP 1 June 2010 and led the company organizing the work of the Board and coordinating the activities of all employees. Last summer, he issued an ultimatum to shareholders of the company, which will leave it to the end of t
driver
- 29 May 2012 09:21
- 378 of 436
Going well today more news to add to the story.
TNK-BP head quits as shareholder crisis flares
Mon, 28 May 2012 15:23:47 +0100
By Vladimir Soldatkin and Douglas Busvine
MOSCOW (Reuters) - Billionaire Mikhail Fridman resigned on Monday as chief executive of Anglo-Russian oil firm TNK-BP , plunging Russia's No.3 oil firm deeper into crisis and challenging co-owner BP's grip on the business.
His departure reflected a further breakdown in relations between the British oil major and the four Soviet-born shareholders, led by Fridman, who together own the other half of TNK-BP, said a source close to the Alfa-Access-Renova (AAR) group that represents the tycoons.
"The AAR consortium has lost confidence in BP as a partner. The status quo cannot continue," the source told Reuters.
BP has recouped the initial $7 billion investment it made in TNK-BP in 2003 many times over. But it has had a series of clashes with its local shareholders over corporate governance, with current BP chief executive Bob Dudley being forced out as head of the 50-50 joint venture in 2008.
Fridman's resignation, effective in 30 days, intensifies a shareholder dispute dating back to BP's failed attempt last year to strike a strategic exploration alliance with state-controlled oil firm Rosneft .
Arbitration proceedings continue under UK law into whether the failed BP-Rosneft deal violated an exclusivity clause in the TNK-BP shareholder agreement, with further hearings expected to be held towards the end of this year.
The demarche also follows the formation of a new administration by President Vladimir Putin, whose close ally and former energy 'tsar' Igor Sechin - mastermind of the abortive BP deal - has just been appointed as CEO of Rosneft.
Since Putin's re-election in March, Rosneft has struck major exploration deals with Exxon Mobil , Eni and Statoil . BP remains sidelined.
With Sechin also nominated by Putin to chair Russia's state energy holding company Rosneftegaz, speculation has mounted that TNK-BP could be a potential takeover target for the state, industry sources and analysts say.
An industry source said that Maxim Barsky, who had run TNK-BP on a day-to-day basis as deputy CEO before leaving late last year, may return in a new role in a move that could further antagonise BP. Barsky declined comment.
The TNK-BP news broke on the day British Foreign Minister William Hague visited Moscow, but the matter did not come up at a joint news conference with Russian counterpart Sergei Lavrov.
Governance at TNK-BP has once again been on the brink of collapse since the resignation of two independent directors, former German Chancellor Gerhard Schroeder and mining industry veteran James Leng, at the end of 2011. Only one has been replaced.
Last week the board postponed a dividend payout in a sign of a broadening rift between AAR and BP, which each received $3.75 billion in 2011 dividends from TNK-BP.
TNK-BP is still looking to replace an independent board director and was unable to decide on the dividend because the board does not have a quorum, the company said.
Two other members of AAR, Viktor Vekselberg and German Khan, retain senior posts at the company, which will be run by executives holding powers of attorney in their areas of expertise after Fridman's resignation takes effect, TNK-BP said.
BP said the resignation would have no effect on the company, which would be run by the management board, which also includes the chief financial officer, Jonathan Muir, and top upstream and downstream executives.
Fridman had not been involved in running the business on a day-to-day basis, BP added.
"As long as he owns it, he will de facto run it," said a well-placed source in Moscow energy circles.
"This is just a way to formally disassociate himself from the management. Looks like preparing the ship for a storm."
PRESSURE POINT
TNK-BP's board is likely to remain inquorate until late this year, meaning that the Anglo-Russian oil firm would be unable to pay dividends during that period, said the source close to the local shareholders.
"It is highly likely that there will be no board meetings and no dividends until the end of the year," said the source.
A further round of arbitration hearings into whether BP violated the TNK-BP shareholder agreement in its failed exploration and share-swap deal with Rosneft last year is, meanwhile, expected to be held in the fourth quarter.
If the arbitration panel finds in AAR's favour and awards nominal damages, that would significantly strengthen the case for TNK-BP's directors to back legal action against BP for $5-$10 billion in damages over the Rosneft deal, the source said.
TNK-BP head quits as shareholder crisis flares
Mon, 28 May 2012 15:23:47 +0100
By Vladimir Soldatkin and Douglas Busvine
MOSCOW (Reuters) - Billionaire Mikhail Fridman resigned on Monday as chief executive of Anglo-Russian oil firm TNK-BP , plunging Russia's No.3 oil firm deeper into crisis and challenging co-owner BP's grip on the business.
His departure reflected a further breakdown in relations between the British oil major and the four Soviet-born shareholders, led by Fridman, who together own the other half of TNK-BP, said a source close to the Alfa-Access-Renova (AAR) group that represents the tycoons.
"The AAR consortium has lost confidence in BP as a partner. The status quo cannot continue," the source told Reuters.
BP has recouped the initial $7 billion investment it made in TNK-BP in 2003 many times over. But it has had a series of clashes with its local shareholders over corporate governance, with current BP chief executive Bob Dudley being forced out as head of the 50-50 joint venture in 2008.
Fridman's resignation, effective in 30 days, intensifies a shareholder dispute dating back to BP's failed attempt last year to strike a strategic exploration alliance with state-controlled oil firm Rosneft .
Arbitration proceedings continue under UK law into whether the failed BP-Rosneft deal violated an exclusivity clause in the TNK-BP shareholder agreement, with further hearings expected to be held towards the end of this year.
The demarche also follows the formation of a new administration by President Vladimir Putin, whose close ally and former energy 'tsar' Igor Sechin - mastermind of the abortive BP deal - has just been appointed as CEO of Rosneft.
Since Putin's re-election in March, Rosneft has struck major exploration deals with Exxon Mobil , Eni and Statoil . BP remains sidelined.
With Sechin also nominated by Putin to chair Russia's state energy holding company Rosneftegaz, speculation has mounted that TNK-BP could be a potential takeover target for the state, industry sources and analysts say.
An industry source said that Maxim Barsky, who had run TNK-BP on a day-to-day basis as deputy CEO before leaving late last year, may return in a new role in a move that could further antagonise BP. Barsky declined comment.
The TNK-BP news broke on the day British Foreign Minister William Hague visited Moscow, but the matter did not come up at a joint news conference with Russian counterpart Sergei Lavrov.
Governance at TNK-BP has once again been on the brink of collapse since the resignation of two independent directors, former German Chancellor Gerhard Schroeder and mining industry veteran James Leng, at the end of 2011. Only one has been replaced.
Last week the board postponed a dividend payout in a sign of a broadening rift between AAR and BP, which each received $3.75 billion in 2011 dividends from TNK-BP.
TNK-BP is still looking to replace an independent board director and was unable to decide on the dividend because the board does not have a quorum, the company said.
Two other members of AAR, Viktor Vekselberg and German Khan, retain senior posts at the company, which will be run by executives holding powers of attorney in their areas of expertise after Fridman's resignation takes effect, TNK-BP said.
BP said the resignation would have no effect on the company, which would be run by the management board, which also includes the chief financial officer, Jonathan Muir, and top upstream and downstream executives.
Fridman had not been involved in running the business on a day-to-day basis, BP added.
"As long as he owns it, he will de facto run it," said a well-placed source in Moscow energy circles.
"This is just a way to formally disassociate himself from the management. Looks like preparing the ship for a storm."
PRESSURE POINT
TNK-BP's board is likely to remain inquorate until late this year, meaning that the Anglo-Russian oil firm would be unable to pay dividends during that period, said the source close to the local shareholders.
"It is highly likely that there will be no board meetings and no dividends until the end of the year," said the source.
A further round of arbitration hearings into whether BP violated the TNK-BP shareholder agreement in its failed exploration and share-swap deal with Rosneft last year is, meanwhile, expected to be held in the fourth quarter.
If the arbitration panel finds in AAR's favour and awards nominal damages, that would significantly strengthen the case for TNK-BP's directors to back legal action against BP for $5-$10 billion in damages over the Rosneft deal, the source said.
driver
- 30 May 2012 12:56
- 379 of 436
A Russian newspaper report said this week that AAR could club together with Matra to buy a Spanish exploration and production company with projects in Mexico and Colombia, among other Latin American countries.
http://www.reuters.com/article/2012/05/29/russia-tnkbp-barsky-idUSL5E8GTD0720120529
http://www.reuters.com/article/2012/05/29/russia-tnkbp-barsky-idUSL5E8GTD0720120529
driver
- 31 May 2012 10:15
- 380 of 436
More news to add to the story. Starting to look very interesting.
May 30, 2012 5:38 pm Financial Times
Barsky rejects TNK-BP for future with Matra
By Michael Kavanagh
Maxim Barsky, former deputy chief executive and heir apparent of TNK-BP, has insisted his future lies with developing his new exploration vehicle rather than returning to the troubled Russian joint venture.
Speaking ahead of Monday’s decision by the Russian billionaire Mikhail Fridman to resign as chief executive of TNK-BP, Mr Barsky confirmed that he was seeking the potential support of Russian investors in the warring joint venture for Matra, his Aim-quoted vehicle.
More
He argued that contacts with Alfa-Access-Renova (AAR), the consortium of Russian shareholders that owns 50 per cent of TNK-BP, and other Russian investors might provide a source of future funding for Matra to achieve its ambition to establish itself as a leading independent explorer in Russia and beyond.
“We will look to use my relationships with Russian companies and investors,” said Mr Barsky. “If we can’t raise money through capital markets, we will have them as alternative investors.”
Suggestions that Mr Barsky might re-establish himself as the preferred candidate to lead TNK-BP have been damped in recent days by Mr Barsky and potential backers in his new venture.
“Mr Barsky will be working as an outside consultant helping the company [TNK-BP] develop some outside opportunities but not in an executive position inside the company,” according to a person familiar with AAR.
Mr Barsky took over as chief executive of Matra last week after agreeing in April to inject £4.6m of equity into the company from his personal fortune. He amassed this through building his last listed venture, Western Siberian Resources, from less than $100m to $1.5bn.
The Russian oil executive stepped down from BP’s joint venture last October following a series of protracted disputes between BP and AAR – a consortium made up of Mr Fridman’s Alfa Group, Len Blavatnik’s Access Industries and Viktor Vekselberg’s Renova.
Explaining his strategy of focusing opportunities to acquire assets in Latin America as well as areas in Russia, Mr Barsky stressed his experience in negotiating deals outside his Russian hinterland during his spell at TNK-BP.
During his time at the venture, under the tutelage of both Bob Dudley and his predecessor as BP’s chief executive Tony Hayward, Mr Barsky was responsible for negotiating and assessing asset deals in Vietnam, Venezuela and Brazil at a time when the partners in the TNK-BP venture “weren’t talking to each other”.
In spite of the impasse between the two sides, Mr Barsky last year helped oversee the agreement with HRT of Brazil for a 45 per cent stake in an onshore field in the Amazon basin for $1bn.
Though now in command of a vehicle with a market capitalisation of £49m rather than Russia’s third-largest oil producer, Mr Barsky insisted he was content.
“The challenge [at TNK] was to prove you can operate in a large organisation – though smaller companies can be harder to manage,” said Mr Barsky. “At that time, the scale was something I wanted. But I am more an entrepreneur and less of a bureaucrat – I am more an entrepreneur than just a manager.
“When I was dealing with Marcio Mello [chief executive of Brazil’s HRT], I saw a happy man who reminded me of myself when I could call the shots and move quickly. Looking at him sowed the seed of Matra.”
May 30, 2012 5:38 pm Financial Times
Barsky rejects TNK-BP for future with Matra
By Michael Kavanagh
Maxim Barsky, former deputy chief executive and heir apparent of TNK-BP, has insisted his future lies with developing his new exploration vehicle rather than returning to the troubled Russian joint venture.
Speaking ahead of Monday’s decision by the Russian billionaire Mikhail Fridman to resign as chief executive of TNK-BP, Mr Barsky confirmed that he was seeking the potential support of Russian investors in the warring joint venture for Matra, his Aim-quoted vehicle.
More
He argued that contacts with Alfa-Access-Renova (AAR), the consortium of Russian shareholders that owns 50 per cent of TNK-BP, and other Russian investors might provide a source of future funding for Matra to achieve its ambition to establish itself as a leading independent explorer in Russia and beyond.
“We will look to use my relationships with Russian companies and investors,” said Mr Barsky. “If we can’t raise money through capital markets, we will have them as alternative investors.”
Suggestions that Mr Barsky might re-establish himself as the preferred candidate to lead TNK-BP have been damped in recent days by Mr Barsky and potential backers in his new venture.
“Mr Barsky will be working as an outside consultant helping the company [TNK-BP] develop some outside opportunities but not in an executive position inside the company,” according to a person familiar with AAR.
Mr Barsky took over as chief executive of Matra last week after agreeing in April to inject £4.6m of equity into the company from his personal fortune. He amassed this through building his last listed venture, Western Siberian Resources, from less than $100m to $1.5bn.
The Russian oil executive stepped down from BP’s joint venture last October following a series of protracted disputes between BP and AAR – a consortium made up of Mr Fridman’s Alfa Group, Len Blavatnik’s Access Industries and Viktor Vekselberg’s Renova.
Explaining his strategy of focusing opportunities to acquire assets in Latin America as well as areas in Russia, Mr Barsky stressed his experience in negotiating deals outside his Russian hinterland during his spell at TNK-BP.
During his time at the venture, under the tutelage of both Bob Dudley and his predecessor as BP’s chief executive Tony Hayward, Mr Barsky was responsible for negotiating and assessing asset deals in Vietnam, Venezuela and Brazil at a time when the partners in the TNK-BP venture “weren’t talking to each other”.
In spite of the impasse between the two sides, Mr Barsky last year helped oversee the agreement with HRT of Brazil for a 45 per cent stake in an onshore field in the Amazon basin for $1bn.
Though now in command of a vehicle with a market capitalisation of £49m rather than Russia’s third-largest oil producer, Mr Barsky insisted he was content.
“The challenge [at TNK] was to prove you can operate in a large organisation – though smaller companies can be harder to manage,” said Mr Barsky. “At that time, the scale was something I wanted. But I am more an entrepreneur and less of a bureaucrat – I am more an entrepreneur than just a manager.
“When I was dealing with Marcio Mello [chief executive of Brazil’s HRT], I saw a happy man who reminded me of myself when I could call the shots and move quickly. Looking at him sowed the seed of Matra.”
3 monkies - 31 May 2012 10:38 - 381 of 436
Looks like there are excititng times ahead by the reading driver. I like the "I am more of an entrepreneur and less of a bureaucrat" same goes for "I am more of an entrepreneur than just a manager". Lets hope he can make us happy with a few bob in the bank, that would do for me!!!!
driver
- 31 May 2012 11:28
- 382 of 436
3m
Looking for more than a few bob this sp could go any where with all this speculation flying about I'm amazed we are not at 8-12 already.
Did you see Drivers Tips it sums it all up.
http://www.moneyam.com/InvestorsRoom/posts.php?tid=9585#lastread
Looking for more than a few bob this sp could go any where with all this speculation flying about I'm amazed we are not at 8-12 already.
Did you see Drivers Tips it sums it all up.
http://www.moneyam.com/InvestorsRoom/posts.php?tid=9585#lastread
3 monkies - 31 May 2012 11:43 - 383 of 436
No I didn't see Drivers Tips but have read the above article just this minute - sounds very very interesting indeed. No more dosh unfortunately as I said to top up at the moment but hope you are doing well with your spread. We will have to sit, wait and watch closely at what this man has up his sleeve.
3 monkies - 31 May 2012 14:47 - 384 of 436
Could we be that lucky??
3 monkies - 11 Jun 2012 08:54 - 385 of 436
Not may interested in this these days, wonder when we might get some more news?
driver
- 11 Jun 2012 13:49
- 386 of 436
3m
The next news will be on the 14 June at the AGM then we will know what MB's intentions are.
Annual General Meeting
Matra, the independent oil and gas exploration and production Company with operations in Russia, is pleased to announce that The Annual General Meeting 2012 will be held at the offices of BDO LLP at 55 Baker Street, London, W1U 7EU on 14 June 2012 at 10.30 a.m.
The next news will be on the 14 June at the AGM then we will know what MB's intentions are.
Annual General Meeting
Matra, the independent oil and gas exploration and production Company with operations in Russia, is pleased to announce that The Annual General Meeting 2012 will be held at the offices of BDO LLP at 55 Baker Street, London, W1U 7EU on 14 June 2012 at 10.30 a.m.
3 monkies - 11 Jun 2012 13:58 - 387 of 436
Cheers driver - a few more buying since my post this morning.
3 monkies - 12 Jun 2012 10:54 - 388 of 436
Going well today, must be in anticipation re: AGM?
driver
- 14 Jun 2012 12:57
- 389 of 436
From the other side courtesy of looneytune from the AGM
A very brief summary:
MB did not buy into Matra for Soko.
MB bought into Matra to make it larger than WSR!
MB has confirmed his team, most present at AGM and all stood up in a ,military manner - lol.
All his team ex WSR
One more member of the team to join but cannot be named just yet, wait for it........from TNK-BP!
Seismic to commence August.
A13 producing........i believe he said 1600 barrels in May.
Got the impression he wants to move away from Russia and maybe sell Soko once Seismic confirmed and wells producing. The license area will probably get extended without the need for application as process has changed.
Colombia & Venezuela a target area for MB, he has gained a wealth of experience internationally from working at WSR and TNK-BP.
Funding is always a grey area subject to economic climate but he remains positive.
He still consults to TNK 1 day a week.
A very brief summary:
MB did not buy into Matra for Soko.
MB bought into Matra to make it larger than WSR!
MB has confirmed his team, most present at AGM and all stood up in a ,military manner - lol.
All his team ex WSR
One more member of the team to join but cannot be named just yet, wait for it........from TNK-BP!
Seismic to commence August.
A13 producing........i believe he said 1600 barrels in May.
Got the impression he wants to move away from Russia and maybe sell Soko once Seismic confirmed and wells producing. The license area will probably get extended without the need for application as process has changed.
Colombia & Venezuela a target area for MB, he has gained a wealth of experience internationally from working at WSR and TNK-BP.
Funding is always a grey area subject to economic climate but he remains positive.
He still consults to TNK 1 day a week.
3 monkies - 14 Jun 2012 13:13 - 390 of 436
May I ask driver what you make of the above please?
driver
- 14 Jun 2012 13:20
- 391 of 436
3m
All positive very good news a good team in place this share could go anywhere now up that is.
More from looneytune and I agree.
I think this has a FANTASTIC future!!! Selling now is short sighted unless you need money. There are loads happening in the backdrop. We have a full team in place and no one had any idea. This share in my opinion is one to watch. The Board are very focussed and really what was discussed in the AGM only highlights why Peter Hind and Neil Hodgson are no longer there. This is now being run by the same ex WSR Management but with even more experience.
All positive very good news a good team in place this share could go anywhere now up that is.
More from looneytune and I agree.
I think this has a FANTASTIC future!!! Selling now is short sighted unless you need money. There are loads happening in the backdrop. We have a full team in place and no one had any idea. This share in my opinion is one to watch. The Board are very focussed and really what was discussed in the AGM only highlights why Peter Hind and Neil Hodgson are no longer there. This is now being run by the same ex WSR Management but with even more experience.
3 monkies - 14 Jun 2012 13:24 - 392 of 436
Many thanks driver, I just got a little worried when I came in and saw so many sells.
driver
- 14 Jun 2012 14:12
- 393 of 436
More from the AGM from the LSE board.
Just got back from the AGM....here's the summary:
1. New Management team -MB has brought in the entire WSR management team (they were all there). there is one more person to join from TNK-BP but he couldn't tell us who that was.
2. Change of Strategy - now the same as it was at WSR - Exploration, Gas and Latin America.
The main focus of the future strategy will be to acquire companies, prove the reserves and then sell them to the majors. MB will not focus on production due to the high cost of taxation and amount of capital required to bring an oil field into production. They are already progressing several opportunities.
They will develop SOKO but MB almost said that he's not that interested in it because he can create much higher shareholder value through acquisitions. Acquisition targets will be in Latin America and CIS. He bought into Matra as a publicly traded company because it gave him access to publicly traded capital. There is more value in gas than oil.
MB's PA mistakenly put the wrong presentation up at the start of the meeting - one about Vetra! Only up for a couple of seconds but long enough for us to spot the mistake - no wonder they haven't denied the speculation.
3. A13 - currently flowing at 60 bopd, could increase to 70bopd next month
4. 3D seismic will start in August and results expected by November
5. A14 will not be spudded until 2013
6. Change in Russian legislation mean that it is possible to increase a license area automatically if a company proves that an oil field extends beyond the existing license area. They clearly believe that it does.
7. I spoke to MB at the end and asked him about the state of the finance market and whether he could raise the finance that he would need. He said that the markets were currently paralysed but would free up in September.
Just got back from the AGM....here's the summary:
1. New Management team -MB has brought in the entire WSR management team (they were all there). there is one more person to join from TNK-BP but he couldn't tell us who that was.
2. Change of Strategy - now the same as it was at WSR - Exploration, Gas and Latin America.
The main focus of the future strategy will be to acquire companies, prove the reserves and then sell them to the majors. MB will not focus on production due to the high cost of taxation and amount of capital required to bring an oil field into production. They are already progressing several opportunities.
They will develop SOKO but MB almost said that he's not that interested in it because he can create much higher shareholder value through acquisitions. Acquisition targets will be in Latin America and CIS. He bought into Matra as a publicly traded company because it gave him access to publicly traded capital. There is more value in gas than oil.
MB's PA mistakenly put the wrong presentation up at the start of the meeting - one about Vetra! Only up for a couple of seconds but long enough for us to spot the mistake - no wonder they haven't denied the speculation.
3. A13 - currently flowing at 60 bopd, could increase to 70bopd next month
4. 3D seismic will start in August and results expected by November
5. A14 will not be spudded until 2013
6. Change in Russian legislation mean that it is possible to increase a license area automatically if a company proves that an oil field extends beyond the existing license area. They clearly believe that it does.
7. I spoke to MB at the end and asked him about the state of the finance market and whether he could raise the finance that he would need. He said that the markets were currently paralysed but would free up in September.
3 monkies - 14 Jun 2012 14:51 - 394 of 436
Obviously a lot were not impressed with the AGM. Maybe they are not happy that they are not going to spud A14 until 2013 or that the markets are currently paralysed the latter not being any surprise to anyone. We shall have to wait and see what else he has up his sleeve.
3 monkies - 14 Jun 2012 17:59 - 395 of 436
Pardon my ignorance driver but who are the WSR management team? I have tried to research it but ain't getting anywhere. Perhaps I should stick to household chores!
Balerboy
- 14 Jun 2012 18:10
- 396 of 436
stick with it 3m you have to learn from your mistakes and get a feel for what might be. I started just like you 8 yrs ago, lost a bit gained abit more thank goodness and still here. Still making bad calls but not so big and not so many.,.
driver
- 14 Jun 2012 18:23
- 397 of 436
3M
Barskiy’s background isn’t as some would have you believe just ”investment banking”. In 2004 he became managing director of West Siberian Resources. The group merged with Alliance Oil and its market capitalisation grew from less than US$100 million to US$3 billion.
http://brokermandaniel.com/2012/04/12/maxim-barskiy-the-peter-hind-master-stroke/
Barskiy’s background isn’t as some would have you believe just ”investment banking”. In 2004 he became managing director of West Siberian Resources. The group merged with Alliance Oil and its market capitalisation grew from less than US$100 million to US$3 billion.
http://brokermandaniel.com/2012/04/12/maxim-barskiy-the-peter-hind-master-stroke/
driver
- 14 Jun 2012 18:31
- 398 of 436
International expansion strategy 14 6 2012
Acquire 2P reserves
Operate and improve assets
Expand via acquisition of licenses
Pursue exploration opportunities
Act as consolidator
Emerging Markets with focus on Latin America and CIS
Existing production or already discovered but non-producing O&G fields
Onshore assets
Potential exploration upside
Management team brings complementary skill-sets of international O&G operations
International track record in value creation
–West Siberian Resources (Timan – Pechora)
–TNK-BP (Vietnam, Venezuela, Brazil)
http://www.matrapetroleum.com/docvault/Matra%20AGM%2014%20June%202012.pdf
Acquire 2P reserves
Operate and improve assets
Expand via acquisition of licenses
Pursue exploration opportunities
Act as consolidator
Emerging Markets with focus on Latin America and CIS
Existing production or already discovered but non-producing O&G fields
Onshore assets
Potential exploration upside
Management team brings complementary skill-sets of international O&G operations
International track record in value creation
–West Siberian Resources (Timan – Pechora)
–TNK-BP (Vietnam, Venezuela, Brazil)
http://www.matrapetroleum.com/docvault/Matra%20AGM%2014%20June%202012.pdf
3 monkies - 14 Jun 2012 18:33 - 399 of 436
balerboy
Thanks for your words of encouragement - I am sure that the team whoever they are now on MTA are in this for only one reason - just get so fed up like everyone else when too many bad calls are made. Up to 4 years ago this used to be fun to me, now it is a serious head ache. However that is nobodys problem only my own. May we all be rewarded for our persistance one day soon. GL
Thanks for your words of encouragement - I am sure that the team whoever they are now on MTA are in this for only one reason - just get so fed up like everyone else when too many bad calls are made. Up to 4 years ago this used to be fun to me, now it is a serious head ache. However that is nobodys problem only my own. May we all be rewarded for our persistance one day soon. GL
driver
- 14 Jun 2012 18:33
- 400 of 436
Balerboy
- 14 Jun 2012 18:36
- 401 of 436
To my simple mind, none of the above are likely to move the sp north till they start another drilling program next year and have a decent strike, or am I not seeing the full picture? .,.
3 monkies - 14 Jun 2012 18:36 - 402 of 436
Thanks driver that has cheered me up no end, can go to bed tonight and tell myself to have patience. Cheers for putting me in the picture.
3 monkies - 14 Jun 2012 18:49 - 403 of 436
Hadn't read the agm rns before I posted the above mmmm!!
3 monkies - 25 Jun 2012 12:20 - 404 of 436
A drastic drop today have you any idea what is going on anybody?
3 monkies - 25 Jun 2012 12:50 - 405 of 436
I have sold so watch them go back up. GL to anyone else holding.
2517GEORGE
- 25 Jun 2012 13:17
- 406 of 436
3M like the majority of these oil minnows you do have to have an abundance of patience. I'm not in these and know no reason for their drop, but it is a down day in the wider market anyway.
2517
2517
3 monkies - 25 Jun 2012 13:27 - 407 of 436
Cheers 2517, I have sold because I wanted to make a profit, if it drops more I might get back in - too many selling for my liking and have more than doubled my money so that makes a huge change for me.
2517GEORGE
- 25 Jun 2012 13:29
- 408 of 436
That's good news, had you held them very long?
2517
2517
3 monkies - 25 Jun 2012 13:39 - 409 of 436
No only about 3 months and I gave 0.90 for them, should have got out when they went to 3.70 and I would have trebled my stake but hey ho! I didn't so have to be happy with what I have got today. I got cold feet watching them drop, as I said they will probably go up now.
3 monkies - 25 Jun 2012 14:32 - 410 of 436
There will probably be some breaking news and it will fly now I've gone.
driver
- 25 Jun 2012 15:05
- 411 of 436
3m
Bye Bye
Bye Bye
3 monkies - 25 Jun 2012 15:52 - 412 of 436
You never know driver, I may be back.
2517GEORGE
- 28 Jun 2012 09:28
- 413 of 436
Turned out to be a good time for you to sell 3M, these have dropped significantly on no news.
2517
2517
3 monkies - 28 Jun 2012 11:10 - 414 of 436
I was very lucky for once 2517, keeping a close eye and if they drop any more might get back in. It was a nice birthday present. Still 78% down on everything else in my wonderful (not) portfolio.
3 monkies - 29 Jun 2012 19:23 - 415 of 436
3 updates today on Maxim Barskiy's holdings.
driver
- 29 Jun 2012 21:30
- 416 of 436
MB playing games like a small pi for what reason I do not know 6.5k to him is a packet of peanuts?
3 monkies - 06 Jul 2012 14:03 - 417 of 436
Nearly 10 million sells, no buys as of yet and only dropped 0.01 - strange.
2517GEORGE
- 11 Jul 2012 12:22
- 418 of 436
Positive response to the new appointments, both having worked with Barskiy before. The FD could be called Kat Sap, far easier than her full name. Looking good but I'm not in yet.
2517
2517
3 monkies - 11 Jul 2012 12:42 - 419 of 436
I am just waiting to see how this goes as there isn't supposed to be any news for a good few weeks yet - yet again the news could come early. If they drop anymore I will probably jump back in 2517. If they go up from here on end I shall kick myself.
2517GEORGE
- 11 Jul 2012 13:22
- 420 of 436
I've watched this myself for a while now, I expect I'll end up with some eventually, but not yet. Hope your portfolio has picked up a bit 3M.
2517
2517
3 monkies - 11 Jul 2012 14:08 - 421 of 436
My portfolio was -75.69% as of yesterday, cannot bare to look today 2517. Not so chuffing good. Hope yours is 100% better than mine. Cheers.
2517GEORGE
- 11 Jul 2012 14:50
- 422 of 436
I took a near 20% hit on HFD recently although a divi of 14p a share offsets about 1/3 of that loss, and I have a few currently held losers SER, ABH,BHR,LGO,PET, and a couple others. On the plus side BBY, AMER, BPC and last weeks purchase of QPP to name a few, are doing quite well.
2517
2517
2517GEORGE
- 17 Sep 2012 11:16
- 423 of 436
Quiet here, are you still in this one Driver? I bought in this morning hoping for positive news on the production forecast by MTA at their interims.
2517
2517
driver
- 17 Sep 2012 15:33
- 424 of 436
GEORGE
Yes still here.
Yes still here.
Balerboy
- 17 Sep 2012 15:35
- 425 of 436
so am i, is it worth a little averaging down??
2517GEORGE
- 17 Sep 2012 15:44
- 426 of 436
Bb if you buy ten blocks of 100k I'm sure the sp would rise, perhaps you could use your HFD profits (ouch that hurt). Who knows, my getting in today is maybe a reason to get out. Ha! Ha!
2517
2517
driver
- 17 Sep 2012 15:45
- 427 of 436
bb
Could be there must be some news soon, im out of funds been av ing on RGM.
Could be there must be some news soon, im out of funds been av ing on RGM.
driver
- 30 Jan 2013 14:47
- 428 of 436
Still holding here recovering nicely from the recent lows..
driver
- 31 Jan 2013 14:49
- 429 of 436
BrokerMan at it again...
Courtesy of a poster on the LSE BB
Brokerman Dan: Buy Matra Petroleum at 1.15p - bet On Barskiy for 2013
It's been an exceptional January 2013 for the Brokerman Daniel website, notably with stunning news from Nostra Terra (LSE:NTOG) my previous free share tip here on onefreesharetip.com So hot-footing across from the USA we change tack to revisit one of my favourite feisty Russian oilers. Yes it's Matra Petroleum. (LSE:MTA) It's taken months & months of knocking on the Matra door but finally it was opened. Persistence can pay off.
No doubt traders will be all over the stock this year but it's as an investment opportunity I write the article.
Having interviewed the Matra CEO, Maxim Barskiy this week I am as convinced as ever that Matra could be destined to be one of the stellar small cap performers this year. I jumped in at the deep end & asked the CEO how he envisaged Matra going forward in 2013 & if he was "committed" to the company? It was refreshing to see how he dealt with the questions. Barskiy exudes confidence and is a skilled orator. I was left in no doubt of his commitment to Matra.
Barskiy is a cool customer who does not get flustered no matter how much you try to rile him. He is assured & confident. His ability to succeed should not be under-estimated. A penny share oil company Matra may well be at this time, but not for long. Make no mistake. Maxim Barskiy is 100% committed to Matra. The ex-heir apparent to the TNK-BP throne now feels that his future is allied to Matra. Remember an important pointer to investment is that Barskiy is the former deputy CEO of TNK-BP, the No3 oil company in Russia. He is a proven winner and as I've said many times re' investment it is the capabilities of management that PI's should first look too before investing. The new Board of Matra is packed with exceptionally gifted individuals.
Barskiy has a plan & he's been busy behind the scenes implementing it, surrounding himself with a proven oil management team. This is exactly what happened at West Siberian Resources where he helped turn the previously struggling group into one of Russia’s most successful independent oil companies, increasing its market capitalisation from less than $100m in 2004 to $3bn by the time it merged to create Alliance Oil in 2008. Of course times change, there are less independent assets in Russia and the tax position can be quite hard on upstream exploration. Opportunities still exist in regions including the Volga-Urals area, where Matra operates while other parts of the Russian Federation still enjoy special tax breaks. Barskiy is quite capable of navigating around Russian Bureaucracy. I'd expect that the Barskiy plan involves investment outside of Russia where profits per barrel can be 3/4 times those in Russia.
Reply | Recommend | Report chna
Posts: 673
Observation
Opinion: Strong Buy
Price: 1.25
part 2Today 08:42Of course Russian oil plays are not without risk – read this tale of woe by my friend Tom Winnifrith on another Russian AIM listed oil play HERE if you are in any doubt. The key ingredient is to have a man at the help who knows how to the play the system and who is heavily invested himself. That is why Matra is a winner.
Funding.
Maxim says that funding for 2013 isn't an issue all is well with the company finances, he has personally invested £4.6 million pounds. Matra is debt free and producing approx 70bopd. With significant upside forecast for 2013.
Seismic News
Seismic interpretation is virtually complete and it can only be a matter of weeks before we get a glimpse of the potential oil in place at Sokolovskoe. (News in Feb') I asked Maxim if he thought the field was capable of producing over 2000bopd. His response was to point me to the neighbouring Mayorskoe Field where production from 3 wells is approx' 3,000 bopd. The field is producing from the same geology as Sokolovskoe. Remember the oil is already there, this isn't a question of finding the oil. It's a question of how quickly the company can proceed to the Full Field Development Plan with improved CPR & increasing production, which should increase the current 15 million barrel reserves into the classification of proven reserves. It's a simple equation, increasing reserves with oil production increases the share price. Production is set to increase in 2013. Proven reserves could double or quadruple. It really is all to play for.
With the implementation of the acquisition led growth strategy with a focus on Emerging Markets and CIS (Commonwealth of Independent States) tied into the development of a balanced portfolio with production, appraisal and exploration potential. There's a lot of news in the pipeline so get ready for a thrilling investment ride. This could be one of the most spectacular performers of 2013.
Get yourself a slice of the Matra pie today; don't delay. At these prices (1.15p) the stock represents fantastic value for small investors. 10p could easily be reached this year. The sky really is the limit here. The shares could just as easily reach 10p as they could 20p! Bet on Barskiy to succeed.
Viva
BrokerMan Dan
Courtesy of a poster on the LSE BB
Brokerman Dan: Buy Matra Petroleum at 1.15p - bet On Barskiy for 2013
It's been an exceptional January 2013 for the Brokerman Daniel website, notably with stunning news from Nostra Terra (LSE:NTOG) my previous free share tip here on onefreesharetip.com So hot-footing across from the USA we change tack to revisit one of my favourite feisty Russian oilers. Yes it's Matra Petroleum. (LSE:MTA) It's taken months & months of knocking on the Matra door but finally it was opened. Persistence can pay off.
No doubt traders will be all over the stock this year but it's as an investment opportunity I write the article.
Having interviewed the Matra CEO, Maxim Barskiy this week I am as convinced as ever that Matra could be destined to be one of the stellar small cap performers this year. I jumped in at the deep end & asked the CEO how he envisaged Matra going forward in 2013 & if he was "committed" to the company? It was refreshing to see how he dealt with the questions. Barskiy exudes confidence and is a skilled orator. I was left in no doubt of his commitment to Matra.
Barskiy is a cool customer who does not get flustered no matter how much you try to rile him. He is assured & confident. His ability to succeed should not be under-estimated. A penny share oil company Matra may well be at this time, but not for long. Make no mistake. Maxim Barskiy is 100% committed to Matra. The ex-heir apparent to the TNK-BP throne now feels that his future is allied to Matra. Remember an important pointer to investment is that Barskiy is the former deputy CEO of TNK-BP, the No3 oil company in Russia. He is a proven winner and as I've said many times re' investment it is the capabilities of management that PI's should first look too before investing. The new Board of Matra is packed with exceptionally gifted individuals.
Barskiy has a plan & he's been busy behind the scenes implementing it, surrounding himself with a proven oil management team. This is exactly what happened at West Siberian Resources where he helped turn the previously struggling group into one of Russia’s most successful independent oil companies, increasing its market capitalisation from less than $100m in 2004 to $3bn by the time it merged to create Alliance Oil in 2008. Of course times change, there are less independent assets in Russia and the tax position can be quite hard on upstream exploration. Opportunities still exist in regions including the Volga-Urals area, where Matra operates while other parts of the Russian Federation still enjoy special tax breaks. Barskiy is quite capable of navigating around Russian Bureaucracy. I'd expect that the Barskiy plan involves investment outside of Russia where profits per barrel can be 3/4 times those in Russia.
Reply | Recommend | Report chna
Posts: 673
Observation
Opinion: Strong Buy
Price: 1.25
part 2Today 08:42Of course Russian oil plays are not without risk – read this tale of woe by my friend Tom Winnifrith on another Russian AIM listed oil play HERE if you are in any doubt. The key ingredient is to have a man at the help who knows how to the play the system and who is heavily invested himself. That is why Matra is a winner.
Funding.
Maxim says that funding for 2013 isn't an issue all is well with the company finances, he has personally invested £4.6 million pounds. Matra is debt free and producing approx 70bopd. With significant upside forecast for 2013.
Seismic News
Seismic interpretation is virtually complete and it can only be a matter of weeks before we get a glimpse of the potential oil in place at Sokolovskoe. (News in Feb') I asked Maxim if he thought the field was capable of producing over 2000bopd. His response was to point me to the neighbouring Mayorskoe Field where production from 3 wells is approx' 3,000 bopd. The field is producing from the same geology as Sokolovskoe. Remember the oil is already there, this isn't a question of finding the oil. It's a question of how quickly the company can proceed to the Full Field Development Plan with improved CPR & increasing production, which should increase the current 15 million barrel reserves into the classification of proven reserves. It's a simple equation, increasing reserves with oil production increases the share price. Production is set to increase in 2013. Proven reserves could double or quadruple. It really is all to play for.
With the implementation of the acquisition led growth strategy with a focus on Emerging Markets and CIS (Commonwealth of Independent States) tied into the development of a balanced portfolio with production, appraisal and exploration potential. There's a lot of news in the pipeline so get ready for a thrilling investment ride. This could be one of the most spectacular performers of 2013.
Get yourself a slice of the Matra pie today; don't delay. At these prices (1.15p) the stock represents fantastic value for small investors. 10p could easily be reached this year. The sky really is the limit here. The shares could just as easily reach 10p as they could 20p! Bet on Barskiy to succeed.
Viva
BrokerMan Dan
driver
- 15 Mar 2013 17:06
- 430 of 436
Still waiting here news must be on its way soon.
3 monkies - 15 Mar 2013 18:28 - 431 of 436
All sells today and the sp remained the same. Not got back in yet but thinking of doing, was waiting for it to drop a little further but am I being greedy? Who knows. GL all who still hold and equally GL to me if and when I decide to take the plunge.
driver
- 04 Jun 2013 13:55
- 432 of 436
4 June 2013
Matra Petroleum plc Full Year Results and Notice of AGM
Highlights
Operational
· 2D & 3D Seismic survey conducted on the Sokolovskoe field
· Management Prove and Probable (2P) estimate of 13.5 mmbbl
· Production commenced from the A-13 well on the Sokolovskoe field, current average daily rate of 70bopd
Financial
· Cash or cash equivalents of $4 million at year end
· No debt
· Loss per share 0.28 cents (2011: 0.90 cents)
Outlook
· Management reviewing options to maximise the value of the Sokolovskoye field
· Focused on identifying prospects to achieve objective of creating a mid-sized E&P of size and scale
http://www.moneyam.com/action/news/showArticle?id=4607179
Matra Petroleum plc Full Year Results and Notice of AGM
Highlights
Operational
· 2D & 3D Seismic survey conducted on the Sokolovskoe field
· Management Prove and Probable (2P) estimate of 13.5 mmbbl
· Production commenced from the A-13 well on the Sokolovskoe field, current average daily rate of 70bopd
Financial
· Cash or cash equivalents of $4 million at year end
· No debt
· Loss per share 0.28 cents (2011: 0.90 cents)
Outlook
· Management reviewing options to maximise the value of the Sokolovskoye field
· Focused on identifying prospects to achieve objective of creating a mid-sized E&P of size and scale
http://www.moneyam.com/action/news/showArticle?id=4607179
driver
- 11 Jun 2013 11:30
- 433 of 436
11 June 2013 Matra Petroleum plc
Proposed disposal of Arkhangelovskoe Licence
http://www.moneyam.com/action/news/showArticle?id=4611403
Proposed disposal of Arkhangelovskoe Licence
http://www.moneyam.com/action/news/showArticle?id=4611403
driver
- 28 Jun 2013 20:01
- 434 of 436
2517GEORGE
- 31 Oct 2013 11:50
- 435 of 436
Shares temporarily suspended. Venturing into the USA. Looks to be embarking on a similar profile to MAGP although higher %age of well output owned.
2517
2517
Balerboy
- 04 Apr 2014 09:28
- 436 of 436
Thats the end of that then:
On 1st April 2014, Matra announced that it was proposing to cancel the admission of the Company's Ordinary shares to trading on AIM in accordance with Rule 41 of the AIM Rules for Companies.
In order to complete various investment transactions and to comply with the associated rules and regulations, the Matra shares were suspended from trading on AIM on 31st October 2013 (for a maximum period of six months). It was intended that the shares would then be readmitted to trading on AIM following completion of the transactions. However, the Company is now unable to meet the requirements of Rule 7 of the AIM Rules which would apply on Re-admission of the shares. The Company is therefore proposing the Cancellation in order to complete the transactions as a private company.
The Cancellation is subject to shareholder approval at a General Meeting of the Company to be held on 23rd April 2014.
It is expected that the Effective Date of the Cancellation will be 1st May 2014.
You should be aware that as the shares will continue to be suspended up to the date of the Cancellation, you will not be able to sell or otherwise deal in them on AIM.
On 1st April 2014, Matra announced that it was proposing to cancel the admission of the Company's Ordinary shares to trading on AIM in accordance with Rule 41 of the AIM Rules for Companies.
In order to complete various investment transactions and to comply with the associated rules and regulations, the Matra shares were suspended from trading on AIM on 31st October 2013 (for a maximum period of six months). It was intended that the shares would then be readmitted to trading on AIM following completion of the transactions. However, the Company is now unable to meet the requirements of Rule 7 of the AIM Rules which would apply on Re-admission of the shares. The Company is therefore proposing the Cancellation in order to complete the transactions as a private company.
The Cancellation is subject to shareholder approval at a General Meeting of the Company to be held on 23rd April 2014.
It is expected that the Effective Date of the Cancellation will be 1st May 2014.
You should be aware that as the shares will continue to be suspended up to the date of the Cancellation, you will not be able to sell or otherwise deal in them on AIM.
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