Matra Petroleum Share Discussion Threads

[rodneyfoster] 17/11/2017 17:53

10k buys at end not carniege for once

[rodneyfoster] 17/11/2017 17:32

I mean if it goes under not chapter 11.If they do sell company presume sane offer would have to be made to all

[beggarman] 17/11/2017 16:49

As I see it the shares would be suspended and the company would continue to trade but be protected from it's creditors. When the company becomes financially stable it would recommence trading on the market.

[rodneyfoster] 17/11/2017 16:31

Beggarman If it's chapter 11 / RTO/ takeover Do major shareholders and board have priority treatment -Chpt 11 I mean

[beggarman] 17/11/2017 16:25

At least we take the trouble to read the accounts before we come up with theories.

[amont92051] 17/11/2017 15:38

You may find the 'yes boys' are sitting quietly waiting to see what happens while the rest of you continually bash the directors and the company you hold shares in trying to 'guess' what is happening and bandying conspiracy theories around along with continual 'they've stitched us up' comments, while none apart from 1 (can't remember his name) has sold or admitted to selling, if I felt the way some posters appear to think I would have sold long ago!

Back to my corner now I've got that of my chest 😀
Good luck all, we need some.

[maceman] 17/11/2017 15:24

Here are the sixes again, as anticipated. What would be the point of selling? If there's a chance they're orchestrating a sellout for 10sek then it's worth the gamble to hold after all this time. Strange the yes boys have t been around for a while indeed.

[rodneyfoster] 17/11/2017 13:29

Harry Can't sell any quantity .I see our yea sayers still have not made an appearance here .Where are you folks ?

[harry136] 17/11/2017 12:05

Mr Foster
If you feel suspension is more likely will you be selling?

[rodneyfoster] 17/11/2017 11:46

Can sell in 2k lots

[doxford] 17/11/2017 09:43

Rodney,
I am sure that you are right and that the heart of this company has been emptied into Russian coffers.

[rodneyfoster] 17/11/2017 09:33

DoxfordIf price is currently around 7sek no way would buyout price be 23.10 if lucky and I feel some form of suspension is more likely .

[maceman] 16/11/2017 21:36

So 10sek goes back towards that also equally magical number of .3p that dogged us. Orchestrated blag over many years.

[doxford] 16/11/2017 21:25

Fag packet maths gets me to 23sek just to realise the delist of 1.03p. What a dose we have had from this lot.

[rodneyfoster] 16/11/2017 20:35

If this a sell what price will they sell at .
10sek -is that the limit ?

Was feeling a tad optimistic until this week’s share price performance and big sells today

[doxford] 16/11/2017 20:12

They could use their own funds to merger upwards. They have had a lot of money pass through their hands to somewhere?

[100egs] 16/11/2017 20:04

its a can of worms,thanks for your input

[beggarman] 16/11/2017 19:46

They needed to raise the $5m to commence drilling and they had run out of all other options to raise funds. Listing in Sweden is where Eric Forss comes in, he had the contacts and know how to get the placing away. I think the oil industry in the US is a pretty small world and they will be aware of Matra USA which is a subsidiary of Matra AB. I think a likely buyer would either be a small US oil company or a private equity company.

100egs - Your last post was quite correct when you referred to the target of 6,000 boepd and said where's the funding coming from. They can't grow organically as they are losing money every quarter and have no funds to continue drilling. They could make some small acquisitions on an all share basis because again there is no spare cash. They could place more shares to raise funds but they are leaving it a bit late for this year. That only leaves a merger or a sale. Had the new wells brought them to break even, they could have probably re-financed the debt and maybe borrowed a bit more.

[beggarman] 16/11/2017 18:07

100egs - I actually fancy they may well sell the company, the new wells are just window dressing to make it look more attractive to a potential buyer. It would explain why the business has been undervalued. The share price should be at least 20sek based on P1 reserves.

[rodneyfoster] 16/11/2017 18:04

Suspension -Is itRTO Merger Chapter 11Hopeless

[beggarman] 16/11/2017 16:49

100egs - If you look at the balance sheet for the Q2 accounts, the Trade Payables are stated at $3,790,000 and if you check note 9 it says Trade Payables are $3,430,000 and Joint Operations Creditors are $360,000. I would say that 10 wells at $300,000 per well equals $3,000,000 therefore most of the Trade Payables relate to the drilling contractor.

At the end of Q2 they had $3,482,000 Cash at Bank, $927,000 Trade Receivables which equals $4,409,000 less $3,790,000 Trade Payables, Net Cash $619,000. Bearing in mind the quarterly interest payments of $1,200,000 you can see how precarious the situation is.

The fact that they are still trading indicates that they have not met all the Trade Payable obligations yet.

[beggarman] 16/11/2017 16:18

It could be partly to do with Christmas, U.K. shareholders know they have no chance of getting their money back for another three years so they are using the shares as a source of finance for the holiday. It saves running up a credit card bill.

I also believe shareholders are worried the shares will be suspended and they won't have access to their money.

I think the Q3 result will be an improvement on the Q2 result but how are they going to handle the cash situation?

They could put it into Chapter 11, who know's.

[rodneyfoster] 16/11/2017 16:03

Beggarman Not good omen for next week if people putting through such big sells .I say it's going to be bad news next week .