The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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
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 .:)
The point of this technology is that you get incented by the gov to buy it. Eg a feed in tariff of about £2.2 k per year for ten years, just like the solar boom..eg you get your money (excl installation) back in about 4 years. Then you add on the savings on electricity usage. Hence its a good deal if it works as advertised and lasts for 15-20 years. Incidentally an average 3 bed house in the uk uses 3,300kWh according to theofficial gov site(dec). Seems to me this , plus solar gets one pretty well off the grid..:) Also if you look at the big name investors (bp etc) in this, I don't think they will want to lose their investment
...The one eyed man is King.. I'm here too.. I agree that if they have to raise more capital then they have to relist at some point on NASDAQ or elsewhere.- It maybe helps that the Americans are a lot more bullish on these things than the Brits - and MBs comment at the EGM that they will continue with standard 'due diligence' for the foreseeable future would seem to indicate they are apparently serious about it. The next problem will come at some point if/when they need more cash and then issue more shares in Newco, or whatever Matra are called at that point- which will then dilute everyone's current holdings, unless you want to stump up more cash to preserve your holding. And , of course , you continue to have no influence whatsoever on the BOD. TskTsk, Twill be another gamble on the motives and commercial nous of the Russian. :) My thinking is that the problem will be that there is a strong chance of I'm here too,
Strikes me that a good question / suggestion at the GM on 23rd might be that the company offers a 'one off' opportunity to buyback any existing shares at a set price (??) that allows any shareholders who do not wish to be locked in for an undefined period into a new undefined Reversed take over company called PG-M[ATRA] or whatever. After all , with the $10m tranche coming in, they are not short of cash. The offer price of course would be the key to any take up.. It would sort out the 'Want outs' from the ' Everlasting optimists / Insiders' Twill be interesting to see what the promised circular publication on 7th April actually says.
1. Find a company with a weak board and some saleable assets. 2. Borrow a lot of money from 'friends and backers' and buy control of said company. 3. Oust the existing board and install your own people. 4. Sell the assets for as much as you can, to get wads of cash in. 5. Keep any authorities and small investors quiet by supplying with minimal information 6. Announce delisting, which will remove regulatory overview. 7. Make 3 or 4 large investments of ALL your capital into private companies- that are quietly owned by your backers. 8. Over a suitable period of time, these companies fail to produce anything and are,then closed down by their owners. 9. Report to your 'board' and remaining investors that your investments have sadly failed, despite your best attempts. Note that the company has now run out of cash and is, in fact, insolvent. 10. Close the stricken company down quite legitimately. Then... Start another new company with the backing of your powerful friends , plus the millions in commissions/ vast salaries/share options from them. Q: If I had made $10m would I care about my reputation with the small investor community or authorities on some rainy island. A: Nope.
IMO this look like an attempt to enrich ones friends [investors] and dump all the small shareholders through semi- legal means. They are not silly enough to enough to invite complete public censure by doing anything illegal, but a slowly , slowly approach to changing the company profile, management, and selling assets, while giving out no relevant information, while following a separate agenda and then an announcement like this , is inevitably followed by a derisory take-it or leave-it offer to the remaining diehard holders.. On the latest RNS they’ve just got a new possible $10m coming in. So why do they need new ‘private’ shareholders? Why go private at all? The obvious answer is that they want to enrich their friends and new shareholders and not share the proceeds with those existing. Look at what happened to shareholders at Virgin when Branson took the company private again- and he is a visible UK personality-. Look at what happened to the shareholders at Chelsea when Abramovitch took over. It is all about making money for the owners and their backers, not looking after the interests of small shareholders. The only way you get any sort of ‘protection’ is if they are a proper footsie listed company. Best go the AGM and listen to some more platitudes and half truths then jump off the nearest bridge.
the trick, methinks, is to look at the spread of building suppliers by company in the areas worst hit by the flooding. The largest or most numerous will have a great year.(TPK and/ or others) . The contractors, whether appointed by the Insurance companies or not, will have to get their building materials locally for the rebuilding and fitting. Add in the emergency extra government £40m- or whatever sum is currently being bandied about- and you are looking at a mini-boom for both builders and suppliers in the next 12 months. If I could startup a building supplies company in the Thames valley tomorrow I would :) Lets hope we break the 2000 barrier next week. GLA.
At the risk of offending anyone who might right now be standing in a flooded kitchen.. who exactly is going to rebuild , refit and profit from the current thousands of flooded homes with kitchens, bathrooms and ruined front rooms? >>Looks like yet another spike in 2014 in the current building boom on the doorstep is coming to me. .. Full marks to the Idealgroup.co.uk or whoever they are? as their ad for help with water- damaged homes comes up top of my google search list everytime and my sympathy to anyone who has a flooded home.
hi there, I got a number of these last year from the USA (NY I think) purporting to be some broker-type who had been instructed to buy up NG shares as there was 'an imminent hostile bid' coming in from some US company for NG shares as they wanted the IP on some technology NG had. . This bid was supposed to be in the region of £9 per share. (price at the time was about 6.50ish). All I had to do was sell to them and wait until price hit 9. or something. It sounded like a scam. My response was actually if this is going to happen why don't I just buy some more myself and see what happens.. Lucky for me I did looking at the price today :) I haven't heard back from them. GLA.
hmm, let me think a minute. ..House prices are going up, new house building is on the up, everywhere you look in London there are thousands of new flats going up. And all the middle classe Europeans have lots of cash which is earning no interest and their economies are struggling. Further afield the Chinese and Russians want somewhere safe to stash their cash with a judical system that is generally perceived as fair.. So lets say we invest in property in the UK, particularly London. Now.. which companies are going to benefit most from all this?.... YES.. you got it...its the UK housebuilders and major trade suppliers in the UK. In a gold rush, the guys that got rich were not the prospectors but the guys supplying the shovels. The guys supplying building materials IMO are gonna clean up for a while at least.. Thats why i'm a buy.. :) . and watch howdens [HWDN] as well..
This news comes just about month after he and the CFO fell out and then he fired the CFO with a very vitriolic press release . .. Wonder when exactly this lack of corporate governance and failure to obey the financial rules came to light internally? ? does'nt give me a good feeling about what else is there in the woodwork.
The powers that be in the City are adamant that there is a multi-billion-pound takeover bid being hatched in the utilities sector. Corporate financiers have apparently been busy burning the midnight oil for weeks in order to bring the deal to light before the end of the month. All fingers yesterday were again pointed at National Grid. Shares of the operator of most of England’s energy pylons and pipelines touched 693p amid growing speculation that GE Capital, the financial services unit of US giant General Electric, and its advisors are working on a cash offer well north of £9 a share. The close was 2p easier at 691.5p. The word is GE Capital wants to get its hands on National Grid’s American activities and would be a seller of its UK operations Read more: http://www.thisismoney.co.uk/money/markets/article-2209110/MARKET-REPORT-Sparks-fly-National-Grid-amid-takeover-rumours.html