Matra Petroleum Share Discussion Threads

[beggarman] 19/9/2016 11:09

They didn't reappoint auditors at the September AGM but they held an AGM in February this year to appoint auditors. It made me think they were expecting to do a deal before last Christmas and wouldn't need audited accounts but the deal fell through so they had to appoint auditors for the 2015/16 accounts. Which begs the question, where is the money coming from to pay the auditors?

[supertedsmith] 19/9/2016 09:35

Didnt you say previously they had got rid of auditors

[beggarman] 19/9/2016 09:03

The AGM has to be convened by 31st December 2016 and the final accounts for 2015 have to be filed by the same date.

[supertedsmith] 19/9/2016 09:00

When do they need to sort out AGM for?Ps anyone interested have got journalist interested -

[supertedsmith] 16/9/2016 11:05

It doesn't matter if oil or gas prices multiply tenfold if they have no intention of allowing you to trade your shares .You cannot seriously believe that they will relist or merge - your shares will remain untradeable irrespective of economic rebound or price rises

[budgetbond] 16/9/2016 08:30

US natural gas prices have been hovering around $3 MMBtu for years now. But the trend may be changing says Spencer Jakab in The Wall Street Journal. A multi-year glut, which has depressed prices, is nearing an end. Gas in underground storage in the week to 26 August hit a seasonal record, but a single cold winter could wipe out that surplus, while output is falling. The number of rotary rigs drilling for gas in North America has slid to an all time low of 81, down from a record high of 1606 eight years ago. Meanwhile demand for gas as a source of energy has jumped in recent years, with the US electricity sector now using 1.4 times as much coal as gas, compared with 4.5 times twenty years ago. Prices look set for a recovery.

[gilly9] 14/9/2016 08:40

Filter you never!!!!!

[supertedsmith] 14/9/2016 07:55

GillyWhat I recommend doing is sitting around like a lemming and just believing everything they feed you - which is apparently not much but enough for some folk Alternatively - as you are such a sensible person and my non sycophantic posts seem to bother - you so much you could just filter me .You choose

[gilly9] 14/9/2016 07:02

Peace for over a week!!!!! rumor has it he has gone to Houston to confront Max and Vladimir!!!!

[beggarman] 06/9/2016 17:44

If you went on a world cruise for the next twelve months, I doubt you would miss anything here.

[calmtrader] 06/9/2016 17:20

look after my shares please ..off on hols for a few weeks

[supertedsmith] 05/9/2016 15:03

Budget In other words one big great stitch up from moment they got on board -Soko sale and RTO / delist already premeditated .

[beggarman] 05/9/2016 12:33

budget - If they were keen to ensure our survival why did they waste our money on the Eclipse and Firstborger deals. I believe all the gas they forgot to tell us about came with Firstborger. They could have used the $35m to complete RTO1 and invest it in drilling for oil, this would have kept debt to a minimum and put the company in a far stronger position than it is currently.

I don't know if you have noticed but all the drilling they have done over the past two years has been on the RTO1 land, there has been no development on Firstborger. I believe this is because RTO1 has oil whereas Firstborger is primarily gas.

[budgetbond] 05/9/2016 12:19

beggar, no but it was the reason for the long period without having been able to achieve their original stated objective. The immediate short term priority became survival rather than growth.

[supertedsmith] 05/9/2016 11:52

Budget Do you understand what you are saying - just excuse after excuse .

[beggarman] 05/9/2016 11:37

The price of oil was £107.50 (Brent) on 1st April 2014, that wasn't the reason for delist.

[budgetbond] 05/9/2016 11:20

super, as usual you have missed the key point - the market crashed in the middle of that 3 year period

[supertedsmith] 05/9/2016 08:50

Budget You cannot be serious .You believe they will relist because MB said he wanted to build a midsize o&Sh cmpany.It's almost three years since they stopped trading on AIM.What about all the other promises .JPJ , mergers , RTO Nothing has been done other than put company severely into debt , stop trading , and continue paying themselves salary and expenses .

[beggarman] 05/9/2016 07:59

budget - Take a look at Sound Energy, James Parsons knows how to build a business they have never been delisted and have used the market to raise capital where necessary. There are no Fireeasts or Firstborgers over there, it's been straightforward exploration and development.

[beggarman] 05/9/2016 07:54

If he was interested in making this a mid-sized oil and gas company he would never have delisted in the first place. These people do deals they are not interested in building a company.

[budgetbond] 05/9/2016 07:22

The reason I believe is that they will relist - whenever that may be - will be to achieve MB's stated objective of becoming a mid-size O&G company. He wont be able to do that through organic growth.

[beggarman] 04/9/2016 19:50

budget - Nobody will answer my question, if they plod on and keep increasing production and making debt repayments, why would they ever relist the company? You go to the market for a reason which is usually to raise funds, companies don't take on a lot of extra overhead just for the kudos of saying we are listed.

If they don't go to the market before Christmas, then it will be many years before anything happens. They could sell the company but the downside is the current level of debt, a prospective buyer would want to knock $45m off the asking price.

[supertedsmith] 04/9/2016 19:07

2018- 5 years delisted - best outcome .They must love reading this board

[budgetbond] 04/9/2016 18:38

beggar, plodding on for another year may not be the worst outcome if they continue to increase the rate of production at the rate they have been doing

They increased by 250bopd in the last quarter - assuming they were able to do the same for the next 5 quarters, then they would be producing 2250 by the end of next year and on target for 2600 by 2018

[beggarman] 03/9/2016 14:53

Hopefully we will get some money back.