Matra Petroleum Share Discussion Threads

[oilfinder1] 26/9/2016 11:45

It's questionable. What is the problem to transfer money from USA to Plc.?
And how it's connected to Jenkins? I don't see any relationship. They still suppose to carry expenses in UK....Computershare,Secretary Service, office rent, website, legal., etc.
Jenkins might be different reason.. I don't know.

[beggarman] 26/9/2016 11:26

There won't be enough money in the Matra plc account to pay them. I would be surprised if there is any money left. They couldn't pay J.P. Jenkins so that facility was withdrawn.

[oilfinder1] 26/9/2016 11:22

Why do you think that they not willing to pay? If they believe it's fake invoices, why they should pay?

[beggarman] 26/9/2016 11:19

If you check they only managed hedge a small part of the production. They are currently being sued for $90,000 they can't pay, so I would say an interest payment over $100,000 is significant. Don't banks usually bring in administrators to run the business while they liquidate the assets?

[oilfinder1] 26/9/2016 11:03

Commercial rates should be 3-5%. Not a killer, specifically, if they hedge part of production. Banks is also not a big fan of foreclosure, they can't operate leases, so I believe it is some leverage for Matra.

[beggarman] 26/9/2016 10:49

oilfinder1 - The five new wells will contribute an extra 165 bopd but the Amarillo Globe reported in July that the wells were ready for production but that is all we know. Regarding the merger Matra clearly stated that there would be a placing if the merger went ahead to reduce the debt. They will not want to keep rolling the debt over because they will have to pay interest on the outstanding amount, I am not familiar with US commercial interest rates but they will have to pay eight months interest on $5m which they could have avoided if they had made the repayment in time back on 1st May.

Regarding the production increase to 1000 boepd, I think they put some of the wells they turned off last year back into production when the oil price started to rise.

[oilfinder1] 26/9/2016 10:33

It was press release back in June - looks like they add 200boed., should be output from new wells.
I also believe that valuation in USA measured not by reserves, but mostly by production (PDP).
Merger also might be not about raising money, but about reduction of G&A, and adding PDP. It is probably also save money and time on listing. I don't believe that any new listing will cost less than $1M, and takes less than 6 months.

[oilfinder1] 26/9/2016 10:33

It was press release back in June - looks like they add 200boed., should be output from new wells.
I also believe that valuation in USA measured not by reserves, but mostly by production (PDP).
Merger also might be not about raising money, but about reduction of G&A, and adding PDP. It is probably also save money and time on listing. I don't believe that any new listing will cost less than $1M, and takes less than 6 months.

[supertedsmith] 26/9/2016 10:23

Oil finder We cant be any worse offShares are currently untradeable

[beggarman] 26/9/2016 10:03

oilfinder1 - Let's say the annual revenue is $13m, bearing in mind there are production costs plus G&A expenses to come off that, I still think it's tight to find $5m.

The benefit of a merger would be the amount of money they could raise via a placing, if say a 50/50 merger valued the new business at $400m they could probably raise $50m and the publicity about the new company would draw in new shareholders. I also think their lenders would be more tolerant with a merger rather than organic growth. We don't even know if they have put the five wells drilled earlier in the year into production yet.

[oilfinder1] 26/9/2016 09:49

I would say, that organic growth of production much better for us, because in this case we are not diluted. Nobody can guarantee, that in case of merger with listed co. we are better off, except unlocking our shares.

[oilfinder1] 26/9/2016 09:45

Beggarman, I think that your calculation is not correct eather. They mention before, they liquid gas is reach, so it might cost more than $3 MMBTHU. I don't remember exactly, but should be between $5-8. From the other hand, you not substract royalty, which is 20%. So revenue should be approximately $12-13M.
Than, regarding bank repayment: if drilling campaign will be successful, bank probably step back again, because metrics become to be obviously better.
But of course, successfull merger or money raise will improve situation.
We can't predict it. Don't forget, that any merger is not only conditions from Matra side, but also requirement from counterparts. May be Barskiy didn't find them attractive for Matra shareholders (and for himself, as largest shareholder).

[beggarman] 26/9/2016 08:44

I'm not sure of the purpose of the Mobius lawsuit. I believe there were legal relations between Matra plc and Mobius because Matra made three payments up to June 2015 however, if Mobius win their case in the US I'm not sure what jurisdiction a US court would have in the U.K.. It is usually better to bring an action in the country where the defendant resides. The only outcome against Matra plc would be a lien on the shareholding in Matra USA until such time that value is realisable.

One other thought is are they just trying to kick up a stink in the US to scupper any merger deal Matra USA may be trying to complete.

[supertedsmith] 26/9/2016 07:55

Note1/ in November 3 years since shares traded 2/ oil price crashed good year AFTERdelist

[supertedsmith] 26/9/2016 07:03

Mike

Thus is becoming tedious and we have had this conversation previously ad nauseum.
You don't want to read my posts filter them .
They have no intention of relisting just getting as much out of this as possible for themselves

[gilly9] 26/9/2016 06:09

Mike dont holdback !!!!!!

[italione] 25/9/2016 22:59

Lol go mike

[supertedsmith] 25/9/2016 19:26

You cannot still believe anything these people say .What does it take for you to see reality .I know what about three years not being able to trade shares whilst they draw expenses and salaries worth anything between 10-20% of delisted value .Or being taken to court in states for unpaid fees by Houston service company .Or breaking every single promise they have ever made .Or selling only asset we had and turning company with no debt into a sinking debt ridden entity whilst siphoning off expenses and salaries whilst rest of us unable to trade

[budgetbond] 25/9/2016 18:35

calm, thanks for sharing that

magpie, I have always worked on the assumption that it would be a shareswap too in the event of a relist.

[supertedsmith] 25/9/2016 15:54

It's not important just showing that he cannot be trusted .He also claimed that he personally tried to buy Deleks stake but I initially rejected by AIM.They then - so he claimed - relented but Tricon had appeared .GARBAGE

[supertedsmith] 25/9/2016 15:53

I approached him - 100% He did not approach me .Let's be clear - I asked him to find me a buyer - So as much as he and his lot not my cup of tea I do not want to lie

[magpie105] 25/9/2016 15:36

Did he approach you individually? i.e actually email/call you out of the blue? Or did you go to him and he mentioned he might know someone willing to buy.

[supertedsmith] 25/9/2016 15:31

When he said 0.2 I just said no and his response was to laugh and say that if I thought my shares worthless then Why not accept .I told him would rather lose money than pay 30% of recent delist price It's way he went about it that made me realize what dealing with .A total con artist .IMHO naturally