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.

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 +.

Burton sells as Matra starts drilling
Non-executive director Craig Burton has sold 3m shares in Matra Petroleum at an average price of 4.16p a share but he still holds 45.2m shares - 4.53% of the Russia-focused oil and gas explorer.

This follows last Friday's disposal of 18m shares by Macquarie Bank, which retains a 11.02% stake in Matra.

Burton is a director of a number of quoted resources companies.




Company Name Buy/Sell Date Trade Value Director Volume / Price
CAP-XX Sell 21-Oct-09 479,999.99 John C Murray 2,000,000 @ 24.00p
General Electric Buy 22-Oct-09 132,503.91 Alan G Lafley 13,000 @ 10.19
Matra Petroleum Sell 27-Oct-09 126,000.00 Craig Burton 3,000,000 @ 4.20p
Mondi Buy 27-Oct-09 20,262.00 John Edward Nicholas 6,000 @ 337.70p

5p would be a lovely confidence booster......

wouldn't it just.... this week??

seems the progress is being made......perhaps as the weeks go by it could-should-would be gaining some levels closer to the 5p mark......

hope Mr Hind is gonna update soon.....

nice tick up today, watcher... bit closer to your 5p

lets hope it holds and goes in the same direction.....no news found to indicate it will stay that way......keep the faith........5p

one possible reason for the advance is a recommendation from a tipster or in a magazine, may therefore be shortlived when the market settles down

good luck everyone.

so we slipped a bit today......total number of buy trades has given me confidence that some good news is around the corner.....following on from yesterday....still looking for the 5p.....or more as the drill programme progresses.....conservative and no ramping