Matra Petroleum Share Discussion Threads

[beggarman] 29/3/2017 13:19

They are only valuing the company at $45m not $100m as previously thought.

[beggarman] 29/3/2017 13:17

That could be the $5m then.

[mistera1978] 29/3/2017 13:14

sorry 41.7m shares in issue fully diluted

[mistera1978] 29/3/2017 13:12

total shares post flotation will be 37m

[mistera1978] 29/3/2017 13:09

I think we'll be looking at equivalent of around 90p per share when it starts to trade.

[mistera1978] 29/3/2017 13:06

The balance sheet shows following

Excerpts from the balance sheet 31 Dec 2016
Million, (not audited)
Oil and gas properties, net
77.3
Total assets
81.1
credit facility
24.9
Loan
21.0

[beggarman] 29/3/2017 13:05

I make that around 52m shares on flotation.

Ted - Looks like your on if this thing tanks.

[mistera1978] 29/3/2017 13:04

The placing is for 250k shares in lots of 500 per purchase

[mistera1978] 29/3/2017 13:04

sorry the total market cap is £37m based on placing at SEK10

[beggarman] 29/3/2017 13:02

Cheers mistera that makes sense, around $40m. They can get rid of a big chunk of debt with that.

[mistera1978] 29/3/2017 12:59

so the placing was looking to raise about £33m

[mistera1978] 29/3/2017 12:58

The placing was at SEK10. They are raising SEK370m if it was fully subscribed. Closing date for subscription was 1st March

[beggarman] 29/3/2017 12:48

Suppose they set out to raise $20m and issue an extra 5.4m shares, they then come to the market with 43m shares instead of 37m. If the flotation is fully subscribed then the share price could be around 27sek but if Mangold (Registrar) end up with a share overhang the price will be dragged down.

I say $20m because this would allow them to start reducing the debt pile as well as increasing working capital.

[supertedsmith] 29/3/2017 12:48

Calm

You misread my post .
I am saying he's no longer ifficually involved but you have claimed that he still is .

[budgetbond] 29/3/2017 12:38

It would be interesting to know how much they are going after because they had the initial $5m they were after back in November

[beggarman] 29/3/2017 12:28

budget - I'm not arguing about institutional investors investing in the business, I don't believe they have enough interest to fully subscribe for the flotation.

I originally believed they were going to issue 37m shares at a high share price so that they could make an all share acquisition. Reading the post yesterday that does not appear to be the case, they are going to issue a higher number of shares to raise additional working capital to re-finance the business and they are not sure how much they can raise.

We are aware that they plan to raise $5m within the first six months of listing and that this placing is already fully subscribed. It could be that the placing is dependent on the markets reaction to the flotation.

[budgetbond] 29/3/2017 12:28

doxofrd, if that equates to a 5 bagger over a 6 year period then I would say yes. But that's only taking into account development of their own assets and no additional acquisitions which are definitely part of the plan

[calmtrader] 29/3/2017 12:22

super when did I say Vlad no longer involved

[doxford] 29/3/2017 12:12

If they relist at the 1.03p equivalent and they then take another three years to get to the promised land of 6000bopd will the six year wait have been worth it?

[budgetbond] 29/3/2017 12:04

I agree with calm - the question for the investors is would you invest in two guys who have previously built $1bn+ businesses in this industry when their starting point is the same (i.e. low oil prices, significant range of assets to choose from)

[supertedsmith] 29/3/2017 11:36

Calm I see you ate no longer claiming Vlad involved .Have you told budget that you were inventing things . So has he done a runner with his hard earned and well deserved lottery winnings here

[calmtrader] 29/3/2017 11:30

I am and the next 18 months s/be very rewarding

[beggarman] 29/3/2017 11:29

Don't expect too much.

[beggarman] 29/3/2017 11:20

I'm sure they are also aware how the UK shareholders have been treated and may not trust them for the future. Simple!!