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.

Wonder if the results of the meeting published this afternoon will make a difference?

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.

I hope it is a good ride - suppose things may fluctuate until after the 16th May.

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)

Thanx Driver for that.

A lot of buying here today.

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.

Not far off 2p driver, probably due to the new chap's holding of a mere 575m shares.
2517

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

That's a bit selective driver, they only started moving upfrom around 1.30pm.
2517

There is a research note on BMD's website for members only - does anybody know what it says as I am not a member?

3m

No but we will soon find out no doubt.

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.

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

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

MTA doing really well this morning.
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A nice surprise. Long may it continue.

Seventeen and a half million just sold in one go UGH!

There were two of those so wonder if one was a repeat?

Yeah I got fed up ha! ha!
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