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Aonther rns
poster petercrosby 1 Apr'14 - 08:49 - 7415 of 7415 0 0 the Company would not be bound to announce to the market material events, administrative changes or material transactions, nor to announce interim or final results; and -- the Company would no longer be subject to the AIM Rules; Shareholders would no longer be required to vote on certain matters as provided in the AIM Rules; and the Company would no longer be subject to the provisions of the Disclosure and Transparency Rules relating to the disclosure of changes in significant shareholdings in the Company. I don't think this is a bad thing necessarily; they need to be free of constraints to get the company up and running more quickly before they relist.
have a read of the rns to day from Magp
post on advfn, this was the answer by rogerinnserinns 10 Feb'14 - 15:25 - 7341 of 7342 0 0 No way in the world is oil in the ground worth $40/bbl - more like $10/bbl. Mind you that's worth around £69m and they have some minuscule production. At best the share price would be around 3p and that's much better than 1p.
Your price too please Ultra!!!
Please put me down for,???????? 2.25
Yes looks very positive , i am sure the wait will be worth it !!!
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.
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!!!!!
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
NO and No.
I don't see what difference it makes,they obviously see some thing, and have spent a hell of a lot of money.
Print Alert TIDMMTA RNS Number : 0081X Matra Petroleum PLC 06 January 2014 6 January 2014 Matra Petroleum Plc ("Matra" or the "Company") Holding(s) in Company Further to the "Holding(s) in Company" announcement released by Matra on the 30 December 2013, the Company has received, on 5 January 2014, further notification under DTR 5.3.1R, that Tricon Energy Finance Limited has acquired a call option over 157,000,000 ordinary shares in Matra (representing 8.11% of the Company's voting rights) currently owned by Delek Energy Systems Limited. For further informa
luckybig1 Posts: 27 Off Topic Opinion: No Opinion Price: 1.55 View Thread (2)baron oil newsThu 11:52does anyone no when the 3rd quarter news is out this is a nightmare waiting game, feed he is telling us all about Baron and yet doesn't know when 3rd q results are due !!!!!!!!!!
Absolutely brilliant lma off,!!!!!!!
"Tricon facilitates global commerce through the physical movement and marketing of industrial chemicals and polymer intermediates." The Tricon Energy® Group is a company built around global trade. Initially moving Caustic Soda, Tricon has expanded to trade petrochemical derivatives on a global scale. As part of the growth process, Tricon continually seeks new opportunities in the terms of comodities and markets as windows for expansion. Through this process Tricon has stemmed various international offices, connections with a diverse group of organizations within the industry, and distribution networks spreading globally.
you keep posting young man, it wasn't that long ago that the bombastic one stated that he also was not going to post until news was released, and lo and behold within days he was back!!!!!! remember the old saying dont let the b******* get you down!!!!!
arse tells me that the two locations are 100 of miles apart i know (ive been to Texas twice) my point being there's an awful lot of oil there!!!!!!!!!!!!!!!!!!!!!!!
www.devonenergy.com, go to press release, its too long to paste on here !!! wonder how far it is from were we are going to be (hopefully), food for thought in any case of what is possible under our ground!!!!
Yes mate, spot on post