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.

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

Result of annual general meeting

http://www.moneyam.com/action/news/showArticle?id=4388946

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? .,.

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.

Hadn't read the agm rns before I posted the above mmmm!!

A drastic drop today have you any idea what is going on anybody?

I have sold so watch them go back up. GL to anyone else holding.

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

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.