Matra Petroleum Share Discussion Threads

[beggarman] 11/4/2017 20:13

budget - The net equity in the balance sheet is $27m and the number of shares is currently 39m. This comes to 69 cents * 9.087 = 6sek just over.

Just for info. Matra USA had $1.5m in cash at the end of the year, had they tried to list the shares with their own funds it would have been very risky. They needed someone like Eric Forss to help them.

[beggarman] 11/4/2017 20:08

Canny - When Ned said old money I assumed he mean't pre consolidation, 6sek now would have been .3p pre consolidation.

[budgetbond] 11/4/2017 19:55

beggarman, if that's the case - and of course all potential investors would have had the opportunity to analyse the balance sheet as you have - then why would anyone sign up to a placing at 10SEK?

[canny lass] 11/4/2017 19:41

I thought there was about 10SEK to the £

So £0.60 surely.

[nedhammers1] 11/4/2017 18:00

What's that in old money beggarman?

[beggarman] 11/4/2017 17:50

Based on the balance sheet the share price should be around 6sek.

[nedhammers1] 11/4/2017 17:40

So this will list on the 20th next week :-)

[beggarman] 11/4/2017 16:29

budget - I believe Eric Forss was their last hope, its an old pals act. He may make a profit in 3 to 5 years time and it won't be his own money but that of his investors.

[beggarman] 11/4/2017 16:27

calm - Let's wait and see but there is absolutely nothing to hold this share price up. They will be lucky to turnover $10m this year never mind investing it in development.

It doesn't matter to you what the share price does on listing as I believe your in for the long term.

[budgetbond] 11/4/2017 16:22

calm, I'm not sure what to expect on listing because I still dont think the full picture is apparent. If Matra were sailing really close to the wind financially then Eric Forss wouldn't have got involved and they wouldn't have got the placing away.

[calmtrader] 11/4/2017 16:19

you keep playing the same record...they dont need to raise $45 by 2019...it will roll like all other all companies and the monthly cost is $70k..see also below

"In the end of January 2017, Matra started to drill three new wells
on the Dial lease, amounting to an estimated cost of about USD 1.2
million. This is estimated to be completed in Q1 2017.
The company runs a flexible capital expenditures program to develop
its petroleum reserves. Going forward the Company plans to fund
its drilling program from current cash, cash flow from operations
and debt sources. The Company quickly can adjust its drilling plans
to accelerate or reduce capital expenditures depending on the availability
of capital and other factors.
The company’s long term objective is to accelerate the development
plan and increase drilling in order to fully realize the development
potential of the company’s reserve base. Further, the company has
access to and considers acquisition opportunities in its region of
operations.
The Company is planning on investing another USD 5-10 million in
drilling during the second half of 2017. "

[beggarman] 11/4/2017 16:06

Then you will know that any decline in the oil price and this company will go bust. How are they going to raise $45m by 2019 to clear all their debt?

[calmtrader] 11/4/2017 16:03

i read every sentence Beggarman

[beggarman] 11/4/2017 16:02

calm - Have a read of the pro forma accounts. The company is in a bad way financially.

[calmtrader] 11/4/2017 15:56

Budget why do you think it will tank?...its rare that investors get the opportunity to invest in a low cap /low cost producer with proven management with untapped reverse in low cost wells ...you will find those that think with there emotions will bail those that think with the head will stay are reap the rewards

[beggarman] 11/4/2017 15:50

The placing was spread among a number of investors thus reducing the risk, if they take a long term view (3 to 5 years) they may make a profit. The listing is out of desperation, they had nowhere else to go. They certainly cannot be thinking about takeovers with a share price like 10 sek or less.

[budgetbond] 11/4/2017 15:43

If there was a risk that the share price will tank (and you may be right), how do you think they got the placing fully subscribed?

[beggarman] 11/4/2017 15:34

budget - I thought the revenues for 2015 & 2016 would be closer to $10m but it explains why they didn't publish any accounts on the web site. The market cap is around $40m based on the 10sek per share placing.

I've had a brief look at the pro forma accounts on the web site and they aren't looking good. They have achieved their objective of raising 48.5Msek working capital.
I expect the share price will tank on listing.

[matra boy] 11/4/2017 15:30

So any guesses as to the share price on listing

[budgetbond] 11/4/2017 15:12

beggarman, what do you make of the market cap & revenues?

[budgetbond] 11/4/2017 15:09

Stocks, thanks for that. So 20 April is finally D Day.

Interesting insight into revenues:

Revenues
2015 5.5M
2016 5.7M
2017 8M? (extrapolating Q4 2016 revenues)

[craig1000k3] 11/4/2017 15:08

ok...stupid quesiton time and one that has been confusing me for some time..SO....will the value of my consolodated shares be the same (or close to the same) as my ORIGINAL number of shares at the time of delisting BEFORE consolodation....obviouse cavat being if the price of the relisting is greatly less than the delist price...Can anyone help me out here?

[lewis_81] 11/4/2017 15:04

20th of April - email out!

[beggarman] 11/4/2017 15:03

Stocks - Many Thanks!