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.

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.”

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!!!!

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

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.

Could we be that lucky??

Not may interested in this these days, wonder when we might get some more news?

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.

Cheers driver - a few more buying since my post this morning.

Going well today, must be in anticipation re: AGM?

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.

May I ask driver what you make of the above please?

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.

Many thanks driver, I just got a little worried when I came in and saw so many sells.

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.

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.

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!

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.,.

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/

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

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