I must say that It’s been a very busy few days here on the BMD Blog the response to the Matra news regarding limited production on A12 has been fantastic (purely from a stats point) and the debate has raged oscillating between the crazed irate to the more educated Investor. Threats of bodily harm right through to genuine relief that production of sorts has actually been achieved has been posted and emailed. Its great to be able to engage the Blogosphere in debate and I have thoroughly enjoyed the last few days (barring the ongoing water problem of course) as a matter of fact it’s been tremendously uplifting to see the strength of debate that’s been engendered by the A12 news. There are some Investors out there that have shown their complete lack of understanding Matra while there are some who have their finger on the pulse and can see the potential for this company.
So with that in mind I’m running a poll. IT WILL RUN FOR 24 HOURS. You decide!
everyone is pissed off and those who blame others need to look at themselves…no one forces anyone to invest in any particular share unless you have the mind of my senile nanna!! MTA need a new crew and A14 to succeed without asking for more cash from punters. A stop of the water ingress followed by increased rates of production and a time frame that is stuck to leading up to production on A14 will get us moving in the right direction..BMD , i’m on LSE and see you’ve had a slating. Do what you feel is right and just be honest to yourself..no one can ask for more from someone…
Anyone who put bm blo should be pied in the face
Stalin… I refuse to believe you put it to MTA that you knew of water troubles from a contact and they denied it. PH and NH would have just toed the usual line “I can’t comment and RNS will be issued in time…” What are you suggesting they said to encourage you not to sell??? that made you so angry… I also find it hard to believe that if one of your contacts had said they knew something of ongoing water trouble you wouldn’t have sold up beofr ethe RNS.. No wonder you topped up yesterday with all your monies safely out
It really beggars belief Luke that YOU CAN MIND READ. My holding in Matra is quite substantial and will remain so until the field is proven up or they hit close to 10p.
Dan
I have no doubt it is now Dan 🙂 What did they say to you then that made you so angry? i was puzzled with yesterdays post.
What annoyed me was the fact that I put it to them that the problem/packer had failed to isolate the water which was what we had gleaned from our contacts in Russia. If they had just said they couldn’t comment or refused to confirm or deny it then I would of posted it. The fact that they rebutted it. at the time lead me to believe that our contacts info was either wrong or could of been superseded by events on the ground. Matra get a daily update from Orenburg. So it was really impossible to contradict the company at the time. Hindsight wise they must of known the current position but probably expected the water to decrease when they drill they actually pump water into the drill when the drill is finished this water comes up with the oil. So maybe they were hoping that the water coming up was this.
Dan
Dan, correct me if I’m wrong but I’m pretty sure that you have previously posted (during latter period of workover) that all was progressing well, packer in place, tankers off site etc etc, as informed by your contacts. From the RNS, it appears that the workover was a failure from start to finish. Perhaps it’s your contacts that have let you down on this one? As a long term holder and continued holder of Matra, i’m as disappointed as anyone with the water ingress, but fact of the matter is…..these things happen. I still believe in the potential productivity of the field even though I find the performance of the BOD at Matra a little frustrating, will continue to hold and follow your posts on Matra.
People need to remember that you’re not investing their money, they are.
No if you look at it every thing they passed on was correct. The packer was in place, the oil was( and still is) flowing and they had been transporting the oil since early July.. we spoke to the company approx around 6/7 July regarding the info of the failure to stop the water. It’s a real pisser that the water is still causing probs but at least they are selling and producing oil. Actually a 200bopd for the area is considered a success by Russian standards. I think they’ll get the A12 bopd up and don’t forget A13 WILL EVENTUALLY come back on stream with a higher bopd so in effect we could over the next few weeks/month or so have a total bopd over 350. And if and it is an “if” the water decreases because the problem was actually down to the 2008 drill entering the OWC then being left open until it was plugged/cemented in 2010 then the bopd will certainly increase way beyond 300/350 bopd.
But remember it’s the inherent value here that is appealing. They have a proven 15 million barrels and that will almost certainly double if not treble over the next 6 months or so. There is more oil here. The problem is the geology.
Dan
Luckily I only have a small investment in Matra. Now is an excellent buying opportunity though.
Whats your take on XEL please Dan? Will we be seeing £3-4 again when the Rowan Norway rig arrives in the autumn?
I would like to see you pushing VOG right now, since your article writen last November VOG now have the license signed and also own 95% of the gas field in Cameroon. Pipe work is taking place and production due in a few months.
Hi Dan
What is your take on GCM
RNS today looks like a good move.
Also all the sells seem to be taken up
Could it be a bye back.
Ps MTA it’s not your fault, it will go back up
Thanks for your time
Steve
What are your thoughts on Matra on the medium to long term say 18 to 24 months …where would you think the share price could be …What potential has Matra ….
As I have commented before Dan, whilst most ‘DYOR’ we’d be naive to think people do not buy on rumour and the snippets of info your contact produces adds to the story and peoples decisions to buy, sell or hold. If they are undecided, on the fence so to speak and your contact says ‘all is hunky dory, problems over, oils flowing’ of course people will buy. But there’s the rub, the contact was off the mark and failed to pick up on the whole picture, or perhaps the whole story was not released to the waiting audience. Who knows, but one thing is for certain, whilst in the med to long term MTA will most probably be a success, the short term agony continues. If you are going to put info out there, it needs to be credible and at the moment it is flawed and that’s why people are angry me thinks!
I have felt all along that this water fiasco is down to a combination of poor workmanship , workers , parts , preparation and leadership all compounded by pressure to fulfil licence obligations . That explains the downbeat sheepish rns this week and the lets learn from our mistakes and look forward to a14 attitude .
Some ludicrous responses to the poll. So far it’s the fault of the ‘Geology’ and ‘Brokerman Dan’s Blog’ to SORT the water problem out at Matra. Honestly some of you are too stupid to breathe.
These polls can really serve a good purpose. This one enlightens investors or should enlighten investors as to just how wide of the mark some are in apportioning blame.
Dan