The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
I see you are posting on the UJO bb. Are you a holder?
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.
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
Read the LRL RNS dated 9th December!! It explains EVERYTHING. You will get the new Leyshon Energy shares AUTOMATICALLY IF YOU HELD LRL SHARES YESTERDAY. If you held 1000 LRL shares YESTERDAY you will receive 1000 shares in Leyshon Energy. They list on AIM on 23rd January. It's all very simple. IT AIN'T rocket science!!
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
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
Read the RNS dated 9th December!! "Admission of Leyshon Energy Shares to trading on AIM and announcement by Company of completion of the Proposed Demerger. 23 January 2014"
Many thanks for that. I did say last year, when the speculation linking UEN and MTA was rife on the bb's, that there would be no link just as I said over the weekend that MTA was not buying RRL's Texan assets. If there was any substance in the speculation MTA would have had to issue RNS's. They didn't Most bb speculation always turns out to be wishful thinking on the part of posters..
LOL. Unfortunately I never got any takers @ £10/hour and consequently I'm as poor as a church mouse. LOL.
MTA will re-open at a price DECIDED by the MM's. That price will depend on the information contained in the Admissions document, how the MM's view that information in relation to the Mkt Cap of AIM shares with a similar modus operandi as MTA in the USA (and the price paid for RRL's Texan assets?) plus their "take" on the likely investor sentiment towards MTA on it's return to the Market. If the MM's under estimate the attraction of MTA and re-open at too low a price then the MTA sp will soon start to climb as the buyers pile in. Conversely if the MM's over estimate the MTA sp on re-opening the sp will soon drop as existing investors try to sell. I should await the admissions document before trying to guage the re-opening price of MTA. PS. Notoriousx on advfn is a notorious ramper!!
Notoriousx 11 Jan'14 - 00:25 - 7231 of 7232 0 0 Range resources in process of selling their texax stake 30 us mill dollars Is that to matra? Check range resources rns? Notoriousx ultrapunch 11 Jan'14 - 22:13 - 7232 of 7232 0 0 edit Notoriousx. Definitely NOT MTA. RRL issued this RNS on the 9th August 2013. hxxp://www.lse.co.uk/share-regulatory-news.asp?shareprice=RRL&ArticleCode=z9b1eedw&ArticleHeadline=Texas_Asset_30M_Sale_Finalised As it happens the purchaser didn't pay the US$25m by the 30th August. The money has still yet to be paid. Notoriousx, be sensible!! When RRL issued the above RNS announcing the finalising of the deal then MTA, as a public listed company, would also have HAD to announce the deal in an RNS at the same time, especially since it would have amounted to an RTO. Failure to do so would have led to serious consequences for the MTA BoD. Basically they would have been breaking the law!! Since MTA never issued an RNS on the 9th August saying they intended to buy RRL's USA assets, THEY ARE NOT!!
This is what the RNS dated 31st October said: "It is anticipated that completion of the Phase 2 Investment will take place on or around 15 January 2014." Anticipated is the operative word. It doesn't say phase 2 will definitely be concluded by 15th January. I suppose it could take longer. Who knows? We'll just have to await the next RNS.
I agree with you. To re-list is quicker and cheaper than an IPO, but AIM treat an RTO as though it is a new company hence the need for an admission document. Lawyers etc will still be involved and a re-admissions document could well exceed 100 pages in length and will take time to compile and is a legal document.
Above average volume so far today.
Your 10p by March for Leyshon Resources may be very wishful thinking, wordog (my target is 1p), but 10p by March for the new company Leyshon Energy is a realistic target.
process starts monday. Leyshon Energy will start life with US$35m of cash. My targets are 9p for Leyshon Energy and 1p for Leyshon Resources.
That sounds like wishful thinking.
MTA will be required to publish an ADMISSIONS DOCUMENT before they can re-list on AIM. That's because AIM consider an RTO (Reverse Takeover) as equivalent to an IPO (Initial Public Offering). Basically MTA will be treated as though it is a new company coming to the Market for the 1st time. MTA will inform the Market via an RNS when that admissions document is ready and the date when MTA will re-list.
Read the last RNS, dated 9th December. It explains everything. http://www.lse.co.uk/share-regulatory-news.asp?shareprice=LRL&ArticleCode=2c54rg4z&ArticleHeadline=Notice_of_EGM