Well as per usual the Matra deadlines have come and gone and still no news from the company. It’s not for the lack of trying. I am certainly not happy at the lack of news as by now the company must know which way the wind is blowing re’ A12 A13. My sources are as miffed as the Matra investors at the company’s failure to release an operations update. The known facts are thus test production was ongoing at A12 some time ago the reasons for the delay may very well be relevant to Matra but holders are disgruntled at the companys’ lack of foresight when it comes to investor relations. It’s about the only issue which Matra fail to address. Good Investor relations should be key to company strategy.
However I must reiterate that it is fundamental to the Matra strategy that they have to get A12 on production. The recent further investment is good news for investors as it under-pins the sp especially Deleks further increase. Remeber Delek have a man on the inside on the Matra Board his finger is on the pulse and Delek must be very confident that Matra will finally accomplish what they should of done many months ago. If ever there was a buy it is Matra. The secret is to hold your stock and await the good news they should double at the very least the amount of interest in the company from small investors is huge we are all urging Matra on as we know the value of a company that some think has up to 100 million barrels of oil. The board are known to be over cautious and play it by the book in-fact to the letter! That in itself should give genuine investors confidence. They are a terrific little oiler in a part of the world that is geared up for oil production there will be NO revolutions in Orenburg!
The issue of the Production Licence and further funding from the recent placing bodes very well for Matra and should be seen as a vote of confidence with “the CPR pointing to an unrisked additional prospective recoverable resource of up to 84 million barrels (high case)”.
The full geological review indicates that the company has yet to encounter the best part of the reservoir and that the main reefs are most likely very close to existing wells with the possibility that reserves will ultimately be much higher.
This isn’t a case of finding the oil it’s been found! The oil is there and Matra will bring it on to production.
I can tell the Blogosphere that Neil Hodgson and Peter Hind are as of this minute on site in Orenburg and are due to fly back to the UK this Monday!
It is my opinion that news is imminent! I predict that good news will be here next week! Expect an increase on the 1000 bopd!
RNS Alerted 1pm this afternoon!