Matra Petroleum Share Discussion Threads

[beggarman] 23/11/2017 07:15

Cash position $751K, Accounta Payable $2,322K, they need to do something about funding and fast.

[brian boru] 23/11/2017 06:56

Max seems upbeat with 713boe in period;

In short, our ambition is to drill more wells in the coming year to further improve financial performance by adding profitable oil and gas production in line with the long term target of 6,000 boe per day. Beyond that, we have identified additional opportunities to further expand Matra's production and reserve base through M&A.

[barrie16] 22/11/2017 23:38

Maceman

How do you know that? Is it a guess on your part.

[maceman] 22/11/2017 20:56

It's all manipulation.

[rodneyfoster] 22/11/2017 20:53

Assuming what you say to be even partially true they need to raise finance pronto.
Not sure what will happen to share price if there is nothing on table

[beggarman] 22/11/2017 19:54

Based on the drilling results. They were producing 750boepd at the end of August and as there was no drilling after late July I would expect September figures to be same as August. I based my previous prediction on 850boepd, unless they bring dormant wells back into production I would expect the Q3 result to be less than 750boepd during the whole quarter.

[rodneyfoster] 22/11/2017 19:38

So why revise turnover down ?
Based on what

[rodneyfoster] 22/11/2017 19:38

So why revise turnover down ?
Based on what

[beggarman] 22/11/2017 18:41

No the balance sheet cash figure in the release is as at the end of Q2, we will not know the Q3 position until tomorrow. Revenue does not look good. They go on about organic growth but I can only believe this is possible by bringing dormant wells back into production.

[rodneyfoster] 22/11/2017 18:22

Are you saying contractor possibly paid

[maceman] 22/11/2017 17:37

Very astute assessment Beggar. Thanks for that.

[beggarman] 22/11/2017 17:36

There is a new note out on the Matra website dated October 2017. There is nothing new in the bulletin apart from the volume increasing to 750boepd from the end of August. I would revise the turnover for Q3 down to about $2.6m depending on the average price per barrel.

[beggarman] 22/11/2017 14:24

They have always been very good at running a tight ship.

[barrie16] 22/11/2017 14:16

Beggarman I'm surprised, just a day away, nothing has leaked out.

[beggarman] 22/11/2017 13:59

barrie16

I'm expecting a turnover of $3.2m, so anything above that would be good. The important elements are the cash position in the balance sheet and the accounts payable figure. If both these figures are above $3m it would indicate the drilling sub-contractor invoices are still outstanding.

It's Thanksgiving Day in the US tomorrow a public holiday, we may just get the results without any comment in the media.

[doxford] 22/11/2017 13:55

Up 10% now and still a few hours to go. Speculation or leaky ship?

[allend47] 22/11/2017 13:45

my fingers are crossed

[barrie16] 22/11/2017 13:37

Beggarman

H, I notice the share price is keeping up. What are your views for tomorrow, surly there must be something positive in the offing.

[maceman] 22/11/2017 08:57

Movement today by the look of it. If we can stay north of 7.5-8 then there might be hope but still think that 10sek seems a sticking point for manipulation

[rodneyfoster] 21/11/2017 17:51

No rise or heavy trading thus far leading to Thursday -So no leaks as such.Anyone any views ?

[harry136] 17/11/2017 20:28

amont
Refressing post
Nice to hear a different/new view.

[beggarman] 17/11/2017 17:57

I must add I don't believe they will file for Chapter II or go bust, it's in nobodies interest. One thought did occur, how about they produce some good figures next week to soften us up and then announce a placing.

[beggarman] 17/11/2017 17:53

Rodders

If they go under, top of the list is the administrators fees, then any taxes owed, then any employee salary/wage payments, then secured creditors (Loan companies) and finally unsecured creditors (Drilling contractor). After that lot has been sorted out I very much doubt if there would be any money left for anyone else.