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.

These have gone up today if anyone still holds.

yep i'm still in.,.

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.

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

mitzy agreed one disaster after another here

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.

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

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.

Would be nice driver.

Nice finish same again tomorrow please.

Been out all afternoon, a nice welcome sight to come home to - wonder if it can sustain at these levels?

drat drat and double drat - out all day today missed the news and all this!!! but congats to anyone who took advantage gla

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

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.

3M

That’s more like it I think you might see your 3p sooner than you think.

Yes driver it is more like it - a little hair raising this morning but okay at the moment. GL

In auction as some say on this board!!! Wowzers.

Nice finish looks like the word is finally getting out regarding the Max effect.

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

The sp is motoring today with the Max effect up 14%