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Errors iPhone
I would ignore anything our would be self deluded mta sage spouts - After all he predicted 30 p when 2 Ronnie's in charge . Then 9p when MB took over - most recently he said phase ll doubtful And sp would open below delisting price . His predictions or rather delusions tally with his Holding or not holding .and his so called itchpoopoo thing. And has selective memory issues whenever he is wrong a it a Fact - no going back RTO will be completed . MB could only pull out before phase ll over . Obvious other announcements are going to be made whilst phase 3 on going . It's a fait accompli as they say in margate .
makday 22 Jan'14 - 12:16 - 7288 of 7289 I see 10p opening price. This is marvellous news. ultrapunch 22 Jan'14 - 12:39 - 7289 of 7289 So you see a circa £200m Mkt Cap on 600bbls of oil produced within the last 10 weeks, or so? All I can say is you shouldn't have stopped taking your medication! LOL.
I don't know, buddy. All I know is todays RNS makes no mention of phase3. All I said was that it appears MTA will re-list very soon. phase3 was anticipated to complete by the middle of April. From what Barskiy says it looks like MTA will re-list way before then. Probably next month?
States below how well the shareholders are going to be rewarded, and I like the bit he says CONSIDERABLE UPFRONT and future value for shareholders. "We are pleased to have completed Phase 2 of our acquisition in the Texas Panhandle region of the USA. In recent months we have started to see the full potential of the Texas asset which offers considerable upfront and future value for shareholders.
Correct me if I'm wrong, but haven't Matra already started on phase 3 once phase 2 was completed? With the RNS just correcting some issues in phase 2. Surely they would of stated that in better English rather than 2nd guess.
It has been suggested that this will re open at the same price it closed at from the start of the suspension which is 1.025. Although no one can be sure what exactly will happen upon re opening of the share price. Some have suggested it will actually drop in price once it re opens. Some think it will re rate and open up way above there current price. Then you have me who doesn't give a flying whatsitcalled just as long as the share price grows enough over the current year to sell up and ride into the sunset on my memory foam mattress....... RNS reads good, looks good and feels good which is good enough for me, see ya mid April.....
No mention of phase3. phase3 was expected to complete around the middle of April. Since Barskiy said the following in todays RNS, I believe phase3 wont go ahead before MTA is re-listed on AIM. >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> Suspension to trading on AIM The trading in the Company's ordinary shares continues to be temporarily suspended until such time as the Company publishes an admission document or the relevant transactions which would constitute a Reverse Takeover under AIM Rule 14 otherwise no longer proceed. The Company anticipates the preparation of the admission document will commence shortly and it is expected that restoration of the Company's shares to trading on AIM will occur once the admission document is published.
and I quote........''Texas offers considerable UPFRONT and future VALUE for shareholders''............that's us folks, and if my poor grammar does not let me down it simply means that when we open for business in the near future we shall see a ''considerable'' hike in the sp. Not too sure about the potential bopd on offer here but it really is looking very positive indeed. GL all you patient holders.
What would the most likely Share Price be when the suspension is lifted?
this can only be a positive its taken MB a long time to get us to here I cant see him blowing this deal with the whole world watching which is good news for all of us who hold here GLA
due diligence - that's what I like to see. I agree that it reads very positively.
Yes looks very positive , i am sure the wait will be worth it !!!
As usual you dont understand . You really shouldn't be around the stockmarket
The closing of the Phase 3 Investment is subject to customary title review and closing conditions. PG-M JV has the right to complete the Phase 3 Investment until 15 April 2014.
All looking very good IMO
ase 3 Investment Under Phase 3, Signal Drilling LLC, an affiliate of PSOFEI, LLC, has agreed to transfer to PG-M JV certain oil and gas leases comprising 32,507 net acres across Hutchinson county (the "Phase 3 Assets"). The Company has identified 270 anticipated new well locations on the Phase 3 Assets. Matra's internal management estimate of remaining recoverable reserves is 6,788 Mboe. In consideration for such transfer, PG-M JV has agreed to pay up to US$5,000,000 and deliver to Signal Drilling LLC a promissory note for a principal amount of up to US$12,500,000, secured by a first lien deed of trust on an undivided interest in the Company's working interests valued at the principal amount of the promissory note (the "Phase 3 Note") (together with the transfer of the Phase 3 Assets, the "Phase 3 Investment"). The Phase 3 Note shall accrue interest at a rate of 6% per annum, be repayable on 31 December 2014 and otherwise be on normal commercial terms. The closing of the Phase 3 Investment is subject to customary title review and closing conditions. PG-M JV has the right to complete the Phase 3 Investment until 15 April 2014. The Phase 3 Investment, when aggregated with the Phase 1 Investment and the Phase 2 Investment would likely constitute a reverse takeover by the Company of PG-M JV under the AIM Rules (even if the PG-M JV Option is not exercised). Phased Transaction + there has to be an EGM to ratify it!!!!!
Soonish So seems very positive
Anyone care to explain
ary 2014 Matra Petroleum plc ("Matra" or the "Company") Operational & Acquisition Update Matra Petroleum plc (the "Company"), the oil and gas investing company, is pleased to announce the completion of Phase 2 of the Company's investment in the Texas Panhandle region of the USA and to provide an operational update. Operational Update The Company has established an office in Houston which is now fully operational. Through PG-M International, LLC ("PGM-JV"), the joint venture vehicle owned as to 50% by the Company, an experienced executive and operating team is being put in place including a chief operation officer, technical personnel, a geologist, a land manager and a financial controller. PGM-JV has already made significant operational progress with the well workover programme with 33 wells re-opened, 18 of which are currently producing. PGM- JV has produced over 600 bbls of oil to date and the first oil sale of 184 barrels has been completed. PGM-JV is also commissioning drilling contractors, subject to receipt of regulatory approvals, to commence further work now that Phase 2 has completed. Completion of Phase 2Investment Matra's wholly owned subsidiary, Matra Petroleum U.S.A., Inc. ("Matra USA") has completed Phase 2 of the 3 phase acquisition of interests in certain oil and gas leasehold interests in the Texas Panhandle region of the USA through its investment in PGM-JV, a joint venture vehicle incorporated in Texas. The acquisition is made pursuant to a purchase agreement entered into, and announced by the Company, on 31 October 2013 (the "Purchase Agreement"). In the course of conducting extensive due diligence prior to closing of Phase 2, the Company discovered certain title defects. Set out below are further details regarding the title defects and how they have been addressed. Maxim Barskiy, Chief Executive of Matra, commented: "We are pleased to have completed Phase 2 of our acquisition in the Texas Panhandle region of the USA. In recent months we have started to see the full potential of the Texas asset which offers considerable upfront and future value for shareholders. Over the last few months we have undertaken an extensive due diligence exercise on the lease titles the joint venture is acquiring. A minority proportion of the titles have been found to have defects but we are pleased to have reached agreement of how the defects will be resolved so that the value of these leases is safeguarded. The completion of Phase 2 will allow us to further expand our operations, fully utilising the highly experienced team that is being put in place in Houston". Terms of the acquisition Under the Purchase Agreement, on 31 October 2013 Matra USA acquired a 50% interest in PGM-JV from PSOFEI, LLC for consideration of US$1.5 million (the "Phase 1 Investment"). In addition, under the Purchase Ag
:)
Still no news, are we in phase 3 or still in phase 2 would be good to know from the board!!
I see you are posting on the UJO bb. Are you a holder?
http://www.google.com/url?sa=t&rct=j&q=oil%20well%20re%20development%20techniques&source=web&cd=2&cad=rja&ved=0CDEQFjAB&url=http%3A%2F%2Fwww.trefis.com%2Fstock%2Fcoil%2Farticles%2F130549%2Fprofit-from-oil-field-redevelopment-with-citadel%2F2012-07-05&ei=zRjdUuatKoqd7Qbm2oBg&usg=AFQjCNGCKJImXeDl_XqvIMDsYWGjn6DGVw&sig2=3XGGCBdRkruGf24ViP7fZA Think this is what we are up to, 10575 Mbeo estimated presuming all phases completed, its the 379 new well locations that worry me, if they can drill them cheap fine but the usual rule of thumb is $500 a foot and they state that some of this oil is 700 meters deep. guess its all in the due diligence, we will see