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.

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

Where will this end..?

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

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

Big gap to fill.

over 45m traded including -plus market -

Another big jump in sp but no news or reason still glad to see movement in the right direction.,.

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

well played sir.

so glad i held on...long way to go before it hits 5p.......unless the RNS supports the spike

GLA

couldn't agree more.,.

Share price consolidating after the UPS and downs since the BREAKOUT

Could be news soon of the A12 back on stream after workover

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

The chart on Fibonacci points done last Tuesday 5th, as I was expecting this to happen .....

Top loser this am.

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."

Top performer this morning.

This could go all the way.

whats happened to your matd.....was getting me all excited last week......Nice to see this one taking off.,.

Still looks cheap to me.

http://www.matrapetroleum.com/docvault/c02.pdf