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.

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.

Still a longway off fox-davies target price:

"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"

as long as i'm in the money i don't worry to much....:))

And up it goes again, still with no news, must be something about to happen???

Still blue.. a 1 mil "O" trade went through not long ago so theres confidence out there. nearly a three bagger for me..:))

4.35p mid price ....

Moving up nicely. Spudding news cannot be far away!

Quite a rise to 5p on that news alone,bodes well for when we do get closer to drill completion,and spudding news should take this back to at least 5p and +.