Well at long last we’ve had some excellent news from Matra regarding production. Now it looks and reads to me that Matra has been forced to release this news before they would have liked. The corresponding drop in their value is nothing more than a knee-jerk reaction to the low BOPD of 100/150 barrels coming from A12 . Investors are missing the boat here. The figures for A12/A13 should not be taken as the end BOPD. “Neither well has yet stabilised and as expected both will require acid stimulation and/or pump installation to maximise production rates” So says Matra. Nothing new there.
The company are expecting rates of at least 1000 bopd from sustained production over this coming year. Hind and Hodgson have been under tremendous pressure from Private Investors constantly contacting the company for updates and when they eventually buckle under the pressure by releasing premature clean-up production bopd the company gets kicked in the teeth. It’s a tough world! But if todays events have taught Matra anything it’s that “YOU upset your Private Investors at your own peril!” The lack of a professional Investor Relations policy specifically targeting Private Investors is sadly lacking here. But that is the only problem this company have.
You can’t have your cake and eat it. Investors have been screaming for months for production figures from A12. Matra have eventually buckled under the pressure and released earlier than they would of wanted news/figures so placate the market.That’s the feeling from within the city. A12 is on clean-up with residual muds and completion fluids still being offloaded! The point here is that Matra have been selling oil from this clean-up for quite some time (As foretold here).
The Board performance so far this year has been excellent. Well done Mess’rs Hodgson and Hind. Keep up the good work and get that BOPD up!
There’s nothing wrong here BOTH wells are still being stabilised and clean-up production oil is now being sold and has been for the last 3 weeks or so. The sp will rise as news on increased production rates filter out to the market. Hold your stock. Or if you want to make a quick killing over the next 3 months buy!
Matra are rock solid. Buy!