Matra Petroleum Share Discussion Threads

[beggarman] 26/8/2017 18:27

I sold 1500, some at 6.85 and some at 6.8, my average is just over 6.8. No problem selling.

[doxford] 26/8/2017 18:14

Stuck in a dodgy private scenario for three years. In that time they have consolidated their own bloody bank accounts. They are now left with a very lucrative opportunity that has cost then nothing. This share price will climb when they start producing or the oil price rises. It is a lot better than the secretive non accountable private club they filched from us lot? All it needs is one gusher.

[rodneyfoster] 26/8/2017 17:23

How many and what price did you get?
Any problems selling ?

[beggarman] 26/8/2017 16:23

I sold some on Friday as a precaution, just in case they are suspended pending some corporate action. I must stress I don't know anything.

[rodneyfoster] 26/8/2017 15:39

RTO / going private ?Otherwise why let share price drift down Thursday perfect opportunity to prop it up with some kind of statement

[beggarman] 26/8/2017 15:06

I agree, I was puzzled when they only raised $5m on listing, I was sure they would raise at least $10m working capital. There is nothing more unprofessional than listing a company and then doing a placing six months later.

I am hoping for an all share acquisition/merger to solve the cash flow problem.

[rodneyfoster] 26/8/2017 14:38

Agree all you say but they must have foreseen all this before relisting I see 5 sek near future -Possibly lower

[beggarman] 26/8/2017 12:53

Rodders,

The share price is depressed because of the uncertainty over the financial position. The situation is coming to a head as they owe $3.7m in outstanding invoices, which I am sure the majority are for the recent well drills. The contractors will have to pay their workers so they must be pushing Matra for payment, we will see if there are any more intents to drill in the near future.

I can only see two options to resolve the situation, either a placing at around 5sek or they make an all share acquisition which increases their production and they are able to pay their debts due to higher revenues.

I think they re-listed out of desperation, they had no other way to raise money. If you remember they should have made a loan repayment of $5m on the 1st January 2017, which has been deferred because of the listing. It wouldn't surprise me if the creditors hadn't forced them to do something to rectify the situation.

Regarding the 500k, that could have been investors money not Eric Forss personal funds. They are taking a chance on long term gains.

Perhaps we will hear something in the near future now they have the Q2 results out of the way.

[rodneyfoster] 25/8/2017 17:18

I just can't see them sitting around letting Sp crash .Why did they relist - and why did someone ploughing in 500k.There must be some plan

[beggarman] 25/8/2017 13:19

ned - I agree with your comment, they need to raise funds in the short term. Regarding the price of oil, the focus is on Venezuela over the next three months regarding their ability to make loan repayments. If production in Venezuela is disrupted that could have a positive effect on the price of oil.

[nedhammers1] 25/8/2017 13:10

My humble opinion, SuperT is right, I've sold out, taken a huge 15k loss from selling and banking 2.3k but sell up and cut your losses, I see dilution here to raise funds for any further drilling or acquisitions, the board will still pay themselves salaries, they've got their money back by hook or by crook. The only way this would rise substantially is of the price of oil increased considerably, and I can't see that happening with the USA fracking etc. Electric cars ..... Just my opinion, what do I know

[100egs] 24/8/2017 19:43

buy some more

[rodneyfoster] 24/8/2017 17:08

What's going to sustain share price from falling now

[doxford] 24/8/2017 17:06

sp was bit of a damp squib at the end of play. Needs a gusher from somewhere.

[beggarman] 24/8/2017 17:05

I don't know if anybody noticed the Trade payables figure of $3.79m which I assume is the drilling costs, the Trade receivables is $927,000, this nets out to $2.863m. If you take $2.863m from the cash balance of $3.482m, the cash balance would be $619,000. There will have to be a re-financing at some point.

[beggarman] 24/8/2017 15:54

I wasn't thinking about Barskiy's personal position but the structure of the company. If they had a strong share price they could grow the business by making a number of acquisitions but if the shares are thrown around like confetti due to a low share price, they will be limited as to what they can purchase.

[rodneyfoster] 24/8/2017 14:03

Dont think he particularly bothered about dilution or short term share price as has already probably got most of his initial investment back in pay etc

[beggarman] 24/8/2017 12:13

Barskiy makes a stronger than usual statement about acquisitions:

"Matra is also Actively engaged in the valuation of several acquisition opportunities in the area of our operations."

If they was to make an acquisition how would they finance it with a share price of 7sek? If they acquired some wells worth $20m, they would currently have to issue 23m shares, more dilution.

[beggarman] 24/8/2017 12:05

Yes, that's been the problem with the share price, it's not negative news driving it down but a lack of positive news and it just drifts. There has not been a trade for the last hour and a half!

[rodneyfoster] 24/8/2017 11:38

Beggarman Dost thou concur ?

[rodneyfoster] 24/8/2017 10:30

Nothing in results to make people buy

[johhnyhotrocks] 24/8/2017 09:37

Hargreaves Lansdown have stopped showing the share price..........what do they know?? ;)

[rodneyfoster] 24/8/2017 09:05

Will it finish sub 6

[beggarman] 24/8/2017 08:38

sell 7.7/buy 7.85

[100egs] 24/8/2017 08:30

What price are we at ?