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To achieve capital growth by investing principally in Continental European quoted smaller companies.
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I trimmed my holding in half on 21st as I believe that the trust is fully priced for now and it will allow profits to run. I've bunged the proceeds into XDWE and HILS, the former because it addresses the tech imbalance in US and the latter for long term capital growth and infrastructure investment.
Yes, it should be, but even a three-letter code is beyond some people!
Now that you've kindly brought the discussion back on topic, I'm very happy with the performance of MTE over the last year. Seems to have weathered the last year or so quite well. Also a positive write-up in the Investors' Chronicle a couple of days ago.
Erhh it says this thread/blog is for the above?
With $8 mln of cash Matra will consider following options for further growth and production increase:  Organic growth: increase hedge position when WTI price will be above $50 per bbl to secure drilling IRR  Acquisitions: looking for M&A opportunities with multiples lower then Matra drilling costs (<$20,000 per flowing barrel (IP 30)) Additionally management will consider M&A opportunities to create liquidity event for Matra Plc Shareholders
on the website.24 July 2015 Matra Petroleum Plc. Result of Strategic Review Matra Petroleum Plc. is pleased to it announce the completion of its strategic review and to provide an update on the activities of Matra Petroleum USA (“the Company”), the JV in which Matra Petroleum Plc. holds a 34% share. The Company has entered into a series of transactions to simplify the corporate structure, strengthen the Company’s balance sheet and provide operational certainty. With the objective of simplifying Company's corporate structure, Eclipse Finance Inc and FirstBorger Oil & Gas Inc have been merged into Matra Petroleum Oil & Gas, the 100% subsidiary of Matra Petroleum USA. The Company has also agreed a new three year loan agreement with Melody Business Finance LLC (“Melody”) of $20 million. The Loan will be secured against the Company’s equity and has a per annum interest rate of 10% plus the applicable 3-month LIBOR rate. In addition, Melody and the lenders under the Melody Loan Agreement will be granted a warrant to acquire 10% of the common stock of the Company, on a fully-diluted basis, at an exercise price which values the Company’s common equity at $30 million. The warrant is exercisable over three years. The proceeds from the Melody loan will partly be used to meet the historic obligations of FirstBorger. Firstly, $5 million will be used to pay down the Green Bank Credit Agreement which has now been re-evaluated based on Matra USA’s reserves and taking into account the lower oil price environment. Following the repayment of $5million this fully drawn credit facility stands at $25 million. The weighted average interest rate of the Company's total debt is 7.5%. An additional $4 million will be used to meet FirstBorger’s obligation to purchase the 10% Overriding Royalty in the Texas Panhandle assets. The acquisition of the additional 10% Overriding Royalty will add 32bopd to the Company’s net production and increase 1P reserves by 1,472mbbl. The remaining funds, after transaction costs, will allow the Company to progress the Approved Drilling Program with the aim of doubling current production by the middle of 2016 to 1600bopd net to Company. Maxim Barskiy, CEO of Matra Petroleum Plc. and Matra Petroleum USA, commented: “The restructuring of Matra’s investments in the US and the new loan agreement will provide the Company with the ability to continue to grow production and cashflow. With a strengthened balance sheet and a clearer corporate structure, I believe Matra is well placed to manage through the down turn in oil prices.“ For further information, please visit: www.matrapetroleum.com
6 MONTHS ON ...STILL ALLIVE AND WELL ...watch this space those who havent topped themselves or cant fford to own a computer anymore ;)
check out the latest from the mta website..............looking much better
yes..got email from company .. was watching advfn .. frikkin tards ;) ... all well and truly still game on..re list then boom
has no one else noticed the letter to shareholders on the mta website giving an update on the latest news and takeovers
on table...not deal ;)
I got a letter from these guys as well, presumably they must have got names and addresses from the share register? Signed by a Mr Pavels Golubevs ? offering to buy MTA between .05p and .7.. I've never heard of them and it looks like a Latvian attempt to do what JP Jenkins are offering... Still at least it shows that there is still some life in the dead matra paper yet .:)
Post more on the advfn board and tell me what the hell is going on with Vladimir . Register on advfn if necessary
will do when i remember my blimmin log on details ..too many id changes ;)
Look at advfn day and comment
Can you let me know what he is spouting these days . He was always very good at putting up a front . Post on advfn Matra board . Did you get letter from Latvian broker Renesource - offering to buy your shares
Can you let me know,what he is spouting these days . He was always very good at putting up a front . Post on advfn Matra board . Do you get letter from Latvian broker Renesource - offering to buy your shares
if thats the case so be it...life is short ...never really that ar5ed about money ..but still think you maybe wrong
Vlad is full of horse manure . It will end badly even if it starts well and looks good in paper - he's only looking after his own interests. I speak form experience and the garbage he fed - excuse the pun- me pre delist rubbish . It's a con which will.probably end badly for us . Ask him about the $10m soko payout and how much of that is being eaten up on expenses . Come to advfn board and shake it up http://uk.advfn.com/cmn/fbb/thread.php3?id=27403761&bb_alert=1
news coming in next few weeks if anyone still gives a to55 ;)
Any news?
What news from Burt and the gang
Yep, ear to ground.GL
off course their is rorker. there is only a very small & limited market on them as they are de listed. there will be no fireworks till they re list. matra are officially off the trading radar for the time being. don't think they are off the map though as they are actively working extremely hard bringing wells back on line and source new acquisition targets. expect another acquisition shortly if all goes to plan.
Re interest / apathy in mta shares.
Why?