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.

See the 2mill trades see the big volume this am.

Mitzy: What's going on with this one?

Another 1 mill gone through @3p..

Could be spudding news to be announced soon grevis.

Up 30% now and no end to buying.

Found this posted on another BB today:

I haven't a crystal ball but I do know that considering the potential here a Mkt Cap of 21m (996m shares) is cheap whether the sp goes up or down on monday. MTA have an oil field but we don't know how much it contains. A-13 will answer that question. A-13 and A-12 could be producing over 2000 bopd between them early in the New Year. Here's to success!! I'll drink to that.

Probably news on granting of A-12 production licence jollyes man. Dont forget MATRA have an oil field (SOKO). The reservoir has good porosity and the oil is light and of a high quality (37-38 degree). Its almost certain that MATRA have at least 19m bbls of recoverable oil. It could be as high as 194m bbls but more likely is 65m bbls. The crestal well, A-13 will confirm what SOKO contains. But dont forget this is from one formation only, the Apnonenski, since A-12 was drilled on the flank of the field. There are 4 other hirizons to test!! Even after todays rise MATRA is still only capitalised at 20m. Its a snip, IMHO. But DYOR.

Kay, unfortunately you don't get many posts on this bb. A bb on another site is much more popular. I'm hoping for an sp of at least 5p (50m Mkt Cap) prior to A-13 results and hopefully higher. I wouldn't like to guess on the sp after spud RNS but I expect it to be higher than 2p. There is the possibility of news before the spud RNS. The company is expecting news on the production licence issue soon for A-12. The company can then start on its work over. Hopefully production from A-12 (evidently MTA expect to be producing from A-12 before A-13 results announced) will give a boost to the sp.
JRz, I'm no ramper I can assure you!! MTA have stated that the best estimate (using deterministic and probabilistic methods) of the recoverable oil contained in the Aphonenski formation, alone, is 65m bbls of "sweet", light oil. They know this oil is in the Aphonenski layer because they have already drilled a well into it. A-12 was drilled on the edge of the Aphonenski layer in late 2007. A-13 will test the crest. Estimates of recoverable oil in the Aphonenski layer of the SOKO field are, LOW 15m bbls, BEST 65m bbls and HIGH 194m bbls. There are 4 more layers to test, apart from the Aphonenski, with A-13. Using the best estimate as a guide and a conservative value of US$2 per bbl in the ground I value that 65m bbls at a minimum of US$130m or 80m. After the placing MTA has 996m shares in issue. So a 80 Mkt Cap equates to 8p per share. We will get closer to that value as MTA progress with the drill which hopefully will spud in a month or so.
EURODOLAR, MXP has a lot less shares in issue than MTA but it has an awful lot of debt whereas MTA has NO debt. MXP has more blue sky potential but I think MTA is a safer bet, though both are gambles. Lets not forget that.

Well Jimog it can't be a duster since we know the Aphonenski formation of the SOKO field contains oil. A-12 found oil in the Aphonenski on 6/11/07. It tested at 960 bopd. It produced under temporary licence for a number of months but only at around 100-200 bopd. A work over and acidisation improved matters but water ingress caused problems. Unfortunately A-12 was drilled right on the edge of the Aphonenski. The water ingress was caused by either the fact it was on the edge and was at the OWC zone or the water came from the Lower Aphonenski layer. MTA propose another work over of A-12 to stop the water ingress. From the results of A-12 and enhanced seismic they aim to drill the crest of Soko with A-13. There are 4 other prospective layers (3 shallower that contain oil in neighbouring fields) missed by A-12 that could contain oil BUT the Aphonenski definitely does, because A-12 found it!! The problem is how much? The best estimate is 65m bbls of recoverable, sweet, oil from the Aphonenski alone but we wont know how much oil is there until A-13 drill is completed. The net pay at A-12 was only 4-7 metres, less than expected because it was drilled on the edge of the field and not the crest as they thought. I imagine, though I'm only guessing, that the low estimate of only 19m bbls is if the net pay is still only 4-7 metres at the crest. I'm hoping that with at least the best estimate of 65m bbls from the Aphonenski plus a contribution from some of the other layers (Franski etc) MTA might be able to announce a reserve of 100m bbls of recoverable sweet oil. I think its 99% certain Jimog that A-13 will not be a duster!!

Who would have thought a 10 bagger in the last 6 months.. and there isc t

Buyers back .

Thanks Mitzy

Still researching this one.

Found this on their website. Well is expected to spud mid September, so more fun to come

For immediate release: 3 August 2009
Matra Petroleum plc (Matra or the Company)
Matra subsidiary contracts drilling rig.
Matra is pleased to announce that its 100% owned Russian subsidiary OOO Arkhangelovskoe has signed a turnkey contract with Petro-Management Drilling Company for the drilling of well-13 in the Sokolovskoe Field in Orenburg. The rig to be utilised is an Uralmash-4E electric rig.
Site preparation has commenced at the well-13 location and mobilisation of the rig will commence within the next few days. The contract allows for a 6 week period for mobilisation and commissioning of the rig at the new location and drilling to 3850m is expected to take approximately 120 days, after spud, at a cost of $4.5million (excluding VAT).
Matras Managing Director, Peter Hind said:
We are pleased to get drilling operations underway we expect to spud the well in mid-September and to have the well results very early in the New Year. This is a very important well for Matra and we will report again once the well has spud.
For further Information, please contact:
Matra Petroleum
www.matrapetroleum.com
Peter Hind, Managing Director
+44 (0) 7990 807855
Aquila Financial Limited (PR)
www.aquila-financial.com
Peter Reilly
RFC Corporate Finance (Nominated Adviser)
+44 (0) 118 979 4100
Steve Allen

Notice the buying today before the long awaited news.

mitzy: News must be imminent!

We can hope so..!

Bought a few in front of spud news which is now due.

Overdue.

Said to spud mid September, so an RNS could come at anytime soon!

climbing nicely again.

Taken from another BB:

Re Peter Hind:

I spoke to him yesterday late afternoon. Everything is on target. He did mention that the rigs in Russia are different to the west, in that they have to be dismantled for each site. He's suprised that PI's want the exact date for spudding....an RNS will come out when it has spudded but no delays.

2. He wasn't suprised at all that Gartmore sold some shares in MTA...."that's their business to sell shares at a profit".

3. They are looking at other opportunities in Russia BUT they won't be raising more capital until AFTER A13 results (Makes sense to me and gives me confidence)

4. Macqarie Bank Ltd have done a thorough technical due diligence of MTA before investing......that also gives me confidendce.

5. PH also told me that Delek do not want to be involved in a 30-60million company....looking at bigger capitalisation.

6. PH was on holiday last week, first time he's had one in 3 years.

7. They'll do a workover on A12 but likely to wait for production license...expect that soon-ish.

8. We did have a chat about the other resovoirs but I didn't understand what he was talking about.

9. I WISH I DID NOT SELL THE 300K to buy into PTR! I'LL WON@T BE CHASING THOUGH....STILL HAVE MILLIONS OF THESE!!

10. He thinks the winds with us and that he is pleased that people on ADVFN are not swearing at management anymore!

PRESS RELEASE


For immediate release: 30th September 2009


Matra Petroleum plc


Operational Update - Sokolovskoe - well 13


Matra Petroleum announces that the rig is on location at the well-site in
Orenburg and commissioning is practically complete. We are encountering minor
delays in installing the power supply to the rig, which is subject to third
party control. In order to minimise the delay the drilling contractor is
mobilising a generator from another operation as an interim solution.


The generator is expected onsite within the next week, however it is subject to
release at a point that is operationally convenient to a third party and
therefore the exact date is outside our control but significant delays are not
currently anticipated.


A further announcement will be made when the well has spud.

http://www.fox-davies.com/media/79697/matrainitiatingcoverageoctober2009.pdf

16 October 2009

We initiate coverage of Matra Petroleum Plc (Matra) with a Buy
recommendation and a target price of 11p per share or a 250% upside to
current share price.
Matra is an AIM-listed oil and gas exploration and production company with a
single asset located in the Oremburg region of Russia where it owns 100% of the
rights to the Arkhangelovskoe licence. The Company made an oil discovery in
2007 with its first exploration well A-12, although subsequent mapping proved
the well to have been drilled too close to the edge of the structure, albeit with
an excellent updip potential.
We estimate the net recoverable resources at 60MMbbls, and close to
40MMbbls on a risked basis, from available data. On that basis we value the
Equity of Matra from DCF at US$190m or 11p per share with an un-risked
potential up to US$302m or 19p per share. The DCF valuation was calibrated
using a Public Market valuation to derive our price target of 11p per share.
With the forthcoming appraisal well A-13 to spud in the next week or so and
results expected 90 days thereafter, we believe this is a good time to invest in
the company. The shares have had a great run since the end of Q1 09 around
the time when financing was put in place and subsequently raised in July,
abating concerns about the Companys future and considerably lowering the
risk premium on the stock.
However we believe that a positive outcome at A-13 and the resulting upward
review from 2C reserves of 19MMbbls currently to 2P reserves of 60MMbbls
would certainly send the share price past the 11p level.
The investment case rests on the outcome of A-13 and the risk is obviously the
reservoir characteristics at that location; however the evidence from the data is
compelling, which provides a higher probability of success with a more limited
downside.

Doing very nicely this morning, glad I'm holding.