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"Magpie, Looneytune, if there was an iota of hope I'd be screaming it from the rooftops but there isn't. Over the early years they consistently produced extremely positive RNSs. When the share price began to fall the RNSs became even more positive. When the sp plummeted they were more positive again" You are talking about the previous management, Kev4!!!! Your comments apply to Hind and Hodgson. Barskiy has only been in charge of the company for 2 years. Could you post the "even more positive" RNS's issued by Barskiy as the sp plummeted. To be quite honest, Kev, you don't sound that bright. PS. I don't hold MATRA by the way. However if I did I wouldn't be worried. After all the majority of O&G explorers currently still listed on AIM have been very, very, poor investments.
We all have our views . Mine and kev are negative but don't assume that we are right . Who knows we may be totally wrong . So don't despair and thank you again for making effort to go to EGM
You say that Kev but PH & NH messed up Soko not only that but they continued to drill without doing the proper 3d seismic. That was careless and it wasted company money and caused unecessary increased dilution. Barskiy with HIS money invested and used his experience which proved to be very successful, he carried out the 3D seismic and determined that the Soko field was not actually as generous as PH made it out to be. So he sold it for a handsome some of money. Then he took his time to source a financially (what looks like) sound acquisition. I don't get where you think he has made millions from Matra? And not everyone has lost! Please don't misunderstand me - i have never said the BoD were trustworthy. I just think the business model is ok. I hope you get a return on your investment and wish you good luck also.
Fair enough, looney-tune. But remember this: the only people that have actually made millions so far in this con have been the very people you cite as being trustworthy. The only ones to have lost money are those they've fooled for years and (in ever decreasing numbers) they continue to fool. I wish you good luck, regardless.
I choose to remain upbeat. Do i believe in Barskiy's ability to grow a Company and make it profitable - Yes. Will i get a return on that - who knows. Is there a possibility - hell yes. Sadly Kev you cannot i repeat CANNOT catagorically say there is not an iota of hope. You need to ask yourself one question - does Barskiy want to succeed or does he want to be a sheister that somehow produces a deal that ONLY benefits himself whilst ensuring no PI gets a return. Having watched and listened to him, Lenski, Guest & Brandl I think there is hope. If Barskiy fires Brandl & Guest i will start to agree with you but as long as they remain on the board i feel that they are wanting to re list in the US.
Magpie, Looneytune, if there was an iota of hope I'd be screaming it from the rooftops but there isn't. Over the early years they consistently produced extremely positive RNSs. When the share price began to fall the RNSs became even more positive. When the sp plummeted they were more positive again. When they stunned us by suspending trading they were so convincingly upbeat and positive that many here (not me) couldn't wait for the suspension to be over because the money was going to row in. We even had a good-time thread here where those still believing the bullshyt were asked to predict how high the opening sp would be when trading resumed. What happens next? They shock the believers by voluntarily de-listing. Yet still some people think Barskiy gives a damn about us. Having stopped believing pre the suspension I'm simply stunned a small few refuse to see the light. Days after de-listing they get 10m dollars and still the believers believe. Now, after an utterly predictable EGM there are still a tiny number of people believing. It beggars belief. Seriously, what do they have to do for you to take the hint? Two final things. Firstly, Einstein stated that the definition of madness is trying the same thing over and over again in the same way whilst hoping for a different result. Secondly, Looney tune, you asked me if I thought Barskiy has a vendetta again small shareholders. Lol. No. We're not even on his radar. To quote a line from Scrubs after JD has shagged his bosses wife. He's wondering if she likes or hates him. She looks at him with complete indifference and says:"I 'nothing' you." Barskiy doesn't have a vendetta against small shareholders, he 'nothings' us. We are completely and utterly irrelevant, neither cherished nor scorned, simply irrelevant. That all said, I genuinely hope suckers like me who've lost thousands on this shower get lucky elsewhere. One thing I learned from MTA over the years is to never, ever believe what any companies' RNSs say - EVER. I think Stav put it nicely earlier when he said believe in their actions, never their words. This has helped me with other companies but at a price. GLA.
To give brief detail to the EGM rationale for delisting: - - To grow they need to complete the current deal - Once the deal is complete they obtain the revenue stream to obtain 15m USD debt based on financial requirements etc - The next deal is only worth doing if the price is cheap and the longer they wait the value from the current deal is likely to make it more expensive given the proximity - By growing and delisting they can avoid dragged out RTO;s which are riskier given the potential for amendments to terms etc Once they hit a certain size vai acquisitions, then the listing on the US exchange presents best value in terms of how the markets there price oilies. This is where I imagine they try and cash in Just saying what was heard at meeting. Make of it what you will
Sounds we've been had then. I and many others seem to have worthless shares now, ah well win some ya lose some. I'm just ****ed I went all that way, got stuck and turned up late and now laid up in agony after the travel home. It's time to put this to bed. I'll be on the Chonca board if anyone wants to chat with me again. This is dead so no point hanging around feeling sorry for ourselves. Was fun ish
Short presentation given by Maxim at the EGM today. hxxp://matrapetroleum.com/m/docs/MatraEGM23April2014.pdf If the reserves predicted prove to be producible, then MTA have got them at a very good price. Expectation is that 100 wells a year will be drilled over the next 3 years. $400k/well (4 to 5 days drill time per well). 10/15 boepd/well. Financing from production backed debt. MTA getting $18/mcf for the "gas" because it is so liquid rich. That certainly puts a gloss on the reserves numbers, which are predominantly gas based. MB is relocating his family to Houston, so is taking this activity very seriously. Relisting (almost certainly NYSE) when enterprise value is of the order of $200m. Hope is 2015.
Kev, i'm one of those people you claim to have confirmed that have been placated, but i fail to see how you can be so confident without all the facts and without attending the meetings. How do you think de listing benefits MB? Do you think he has a vendetta against PI's? Do you think staying on AIM is the way forward? Why? So you can sell your shares? That puts you on the same level as MB if you think it is all about him. Are you saying that all the research on valuations on different markets is a red herring? You needed to be there Kev! If someone makes an offer for the Company then all shareholders will be approached with the same priced offer. Don't forget he is governed by law as a CEO of a UK listed Company. I can understand why you think this is over equally as i think it's NOT over. C'est la vie
I have shares I would like to know what will happen to them too
I'm not surprised those in attendance left happy. These businessmen are experts at sounding sincere. Even after all the let downs they're so good at bullshyt that some people still believe. Here's what I said on this board yesterday: "Trust me when I say MTA have broken no laws. I suspect the shareholders in attendance tomorrow will be bullshytted to in a highly convincing way and many will walk away placated. They'd be wrong. This share is dead and buried. I'll be holding onto my shares because there's nothing else I can do with them. I reckon the odds of them ever being of value are about a million to one - seriously. I consider my money lost." I'm not trying to be negative, just stating facts. This bit is a guess based on years of experience of businessmen.: I wouldn't be surprised if Barskiy and his buddies are sitting at a bar with their ties loosened and breaking their hearts laughing at us and how easily they got away from the meeting. I doubt if there has ever been an EGM involving a voluntarily de-listed company that has ended any other way. - they're THAT good at fooling us...over and over and over again....
Stop being naive . What else could they have said but that it is in your interests and that you have won the lottery but need to wait and be patient .usual talk to fob people off . It's lights out and if they turn the lights back on will be a long long time and it certainly wont be for Your benefit . Someone has won the lottery but it's not us . Sorry to be so blunt but it's Au revoir matra time . Of course this is just my opinion based on my experience and contact/s with Matra in the last 18months . Yours may be different and I hope turns out to be correct but I very much doubt it .
Advfn
A bit strong there Stav fella, but you have every right to be. Having now seen what I missed at the meeting I now get it, and LT puts it much better than I could of. Overall I think he could of screwed us over if he wanted to but the thing I do get now is MTA can not afford to be locked in. Not now not even in 2014. I missed the part about another acquisition but thought I heard something about it during one of the questions. So not only are they looking to finish the RTO but there going for another acquisition after that, and there is no way they can do it listed. The importance is speed from what I got, and if they want all this to happen it's got to be now. I wished they would of give a more approx date instead of just saying in 2015, buts just me. I think if he or MTA wanted to rip us off they could of done it anyways, and yes it still might happen. But given a choice of staying or selling on JP I know where I stand now, although that doesn't mean I won't knee cap him if he does do a runner :0 LT, you could of said hello fella. It was pretty easy to spot the odd one out in me when I arrived late, but maybe next time, if there is a next time of course.....
once the shares are de-listed ....is there any other way of keeping in touch and up to date ? facebook maybe ? or gmail group
We have been scr.......ed well and truly by Matra , MB and Vlad . It's all "legal" so nothing to do about it other than flog shares for pittance on JPJ.
Written by Matra obviously to justify 1/ Selling soko 2/ moving to US 3/ delisting It doesn't make sense and there is a lot of optimistic assumptions about what will happen in Texas with no Negative scenarios .It's very much Pangloss and "his best of all possible worlds " concept a la Matras Texas move . Just a document to pacify shareholders . They promised lots of things two years ago and they. have delivered zero . But they still are getting paid by Matra and someone correct me if I am wrong can issue options as they want . STINKS even more . Did someone say there were lawyers present - BBB???- if so they must be a tad afraid that they will be questioned on what has happened and the timeline of events .
Here is EGM summary folks http://matrapetroleum.com/m/docs/MatraEGM23April2014.pdf
It's a tough call for sure! I think the de listing reason is genuine. Even if they re listed they would probably have had to suspend again. It's all about growth. MB still maintains his stance on growing the Company. I think they would have gone for a US listing regardless i.e.. dual listing with the view to de list from AIM. He still talks big and i believe he is focussed. Only time will tell. Will i sell my holding via JPJ - No!! My questions were answered in a professional manner. To put it bluntly i believe!!!!! (sounds corny)
How did you feel about EGM - Reassured or still suspicious .I remember you being impressed two years ago at AGM. To put it bluntly are you a believer .
I do not believe they are obsolete but pretty sure I saw somewhere that they could rearrange the terms (which tbh they could do either way if non-exec board approves). Couldnt find anything on it in the circular when checking just now but did see the below "The Code and the Companies Act currently apply to the Company and will continue to apply to the Company notwithstanding the Delisting. The Code is issued and administered by the Takeover Panel. The Code and the Takeover Panel operate to ensure that shareholders are treated fairly in the event of a takeover are not denied an opportunity to decide on the merits of a takeover and that shareholders of the same class are afforded equivalent treatment by any offeror" May mean that it is not so easy for barsky to value his shares differently to the PI's
They have 15 wells producing. Target this year 60!! Each well will repay it's drilling costs in the first year. Oil & Gas.
What has been said here re the EGM is accurate. The $10m was mentioned and Matra are sitting on $20m including the recent payment. MB put forth his (&Tricon) reason for not agreeing to Rule 7 and they are of the opinion that Rule 7 should not be implemented as they already have a revenue stream. Even if Matra re listed they would have to de list again as they have sourced yet another acquisition target and being that its larger again than the current Company they would be required to suspend yet again pending a RTO to comply with AIM if it goes ahead. All in all by de listing it will allow Matra to act fast when sourcing new targets. Less red tape. For the record, MB said that they will run the Company with the Non Execs in place as if they were still listed to help with the re listing in the USA. They will need to build the company to a target worth ($200m+) in order to list on the appropriate exchange. Yes you can probably sell with JPJ - up to you. That was just our take on it.
Interesting point. What is situation In terms of previous share options to staff .Are they now obsolete .