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Broke man dan
ever happened to that brokerman dan?
No problem, mate. phase1 completed on 31/10/13. phase2 completes on? Assuming it completes presumably they go on to phase3. When (if) that completes then MTA can re-list after it has issued an admissions document. Who knows at what price the MM's will open MTA at when it re-lists? The MM's might not be sure themselves and could just open up at the pre suspension price with a wide spread and then see what happens? MTA could raise cash in a placing just before they re-list? The placing price could then give the MM's a guide as to the price they open up at? Who knows? My gut feeling is that the MM's will open MTA at, or below, the pre-suspension price. Of course that's just my gut feeling only. If investors think MTA is very cheap at the opening price they will pile in and the sp would rise. Will that happen? Who knows? One things for certain; the MM's wont seek my opinion before they set an opening price for MTA!! LOL.
All going as planned Again "my" word
Nothing till April Take "my" word for it
My mistake buddy,
When RTO announced you seemed somewhat skeptical that it would get through phase II and predicting that it would open almost certainly below price at which it was delisted - that is sub 1p. Naturally fact that you are apparently no longer a holder in no way relevant
MTA did inform the Market, via an RNS, when phase1 was completed. What do you think the RNS dated 31st October was for? It was to inform shareholders that phase1 was completed and MTA was about to embark on phase2 and when that is completed on to phase3 Terms of the Transaction Introduction Under the Purchase Agreement Matra USA has initially acquired a 50% interest in a joint venture vehicle, PG-M International, LLC ("PG-M JV"), a Texas limited liability company with certain oil and gas leasehold interests in the Texas Panhandle region of the USA (further details of which are set out below). Under the terms of the Purchase Agreement, Matra USA has paid the seller, PSOFEI, LLC, consideration of US$1.5 million (the "Phase 1 Investment"). In addition, under the Purchase Agreement, subject to the satisfaction of certain conditions (including satisfactory due diligence), Matra USA will make further investments in connection with the transfer of additional assets to PG-M JV (such investments being the Phase 2 Investment and the Phase 3 Investment, further details of which are set out below), and has an option to acquire the 50% of PG-M JV that it does not already own. Acquiring the remaining 50% of PG-M JV or undertaking the Phase 3 Investment (further details of which are set out below) would likely constitute a Reverse Takeover by the Company in accordance with Rule 14 of the AIM Rules. Accordingly, the Company has requested the suspension of the Company's ordinary shares pending the publication of an admission document or the termination of the Phase 2 Investment and Phase 3 Investment. From Phase 1 Investment The Company, through its wholly owned subsidiary, Matra USA, has acquired a 50% interest in PG-M JV, a Texas limited liability company, from PSOFEI, LLC for $1.5 million (the "Phase 1 Consideration"). PG-M JV currently holds certain oil and gas leases comprising 480 net acres across the Anadarko Basin located in the Texas Panhandle encompassing Gray, Carson and Hutchinson counties (the "Phase 1 Assets"). There are 35 existing wells on the Phase 1 Assets and 20 anticipated new well locations. Matra's internal management estimate of remaining recoverable reserves is 417 Mboe. The other 50% of PG-M JV is owned by PSOFEI, LLC, a holding company owned by Amiba Resources L.L.C., Galaga Resources LLC and Jenkins Oil & Gas LLC. Pursuant to a joint operating agreement, Petrolia Group, LLC has been appointed as operator to service the properties owned by PG-M JV, and Matra USA and PSOFEI, LLC will jointly agree a work program. On the date of signing of the Purchase Agreement, Matra USA has agreed to fund PG-M JV's work program under a promissory note of up to US$16,500,000, secured by all of the assets of PG-M JV and issued by PG-M JV to Matra USA (the "Funding Note"). 50% of the amounts due under the Funding Note shall be
I don't think they will inform us about phase 2 completion they didn't after phase 1, think we can assume that if we get to April then we are in phase 3 and awaiting RTO then re admission,
Good to hear - let's hope so
I was told that all ok
I'm involved in the assets that belong to the 'bad' Irish bank which are being prepared for sale. The due diligence by the potential buyers is taking ages - not because there's anything wrong with the purchase, it just takes ages. So if we don't get any news this week, next week or next month, don't automatically assume it's because there's something wrong or there's a problem.
next week or by end of month at latest I think .
I was told - this week -that January 15 date was just approximative . Due diligence still going on . Everything is apparently " on track" Think of it inversely- if things bad or were puling out would have hurried up annd informed market.. So logically speaking all hunky Dory. So thinks I Curious to know why MB pulled out of live video feed on UEN saga . Anyone any answers
is good news?, would have thought if all was running according to plan we would have heard completion phase II by now.
No. They will not be buying RRL's Texan assets. If they were they would have had to issue an RNS by now. They have not!!
Well spotted mate!! LOL. RNS dated 31/10/13
Perhaps you mean 31/10/13.
So would MTA be buying RRL's Texas field or a part of or in collaboration with RRL. RRL have been waiting an age for the sell off to come to fruition. Latest media on RRL http://www.proactiveinvestors.co.uk/companies/news/64774/range-resources-edges-closer-to-texas-oil-asset-sale-64774.html
Read the RNS dated 31/10/12. If you invest in a company you must read the RNS's it issues. http://www.lse.co.uk/share-regulatory-news.asp?shareprice=MTA&ArticleCode=kuwstrke&ArticleHeadline=Entry_into_conventional_US_onshore_oil__gas
Conference call has been delayed, isolator said he would lye people know if and when it does go ahead, Back to Mta 15th today how long after today can we assume that we are in phase 3 without any news?
I'm no expert but I will fill you in though. No you do not have to be worries about your investment. MTA is suspended at the moment at there request while details of a purchase can be filled in. There are 3 phases in this takeover / purchase and today or roundabout today is suppose to be the end of phase 2 and the start of phase 3. Its expected that all the phases will be complete by mid April and when MTA produce the Admission Document on the said purchase MTA will then re open and become un suspended. The stuff going on with UEN is nothing to do with MTA, but our man Maxim as fingers in other pies. Some are saying hes after merging MTA with UEN but nothing is being said. So I would not be worried at all. Infact its exciting times for MTA and over the next 12 months there should be more exciting news and hopefully a nice rise in the share price. Hope it helps you out.
MB is holding the Urals Energy investor conference call at 3pm today so there should be some news soon on his plans
As I am sitting on the sidelines here and hold shares in this company, can someone just briefly explain (plain and simple) what is actually happening at the moment? should I be concerned? and will these shares be traded again? Thank you