Stick with Matra!
It’s been a tough few months for holders of Matra stock the feisty little oiler is as most know struggling to stop the water influx on A12. The Admin email has been flooded and the topic that stands out is the current situation with A12. Most think that is it, A12 200 BOPD! Matra have not given up on solving the water problem, far from it the company are known to be collecting data whilst actively investigating a solution to the problem our sources expect that they will once again attempt to locate and isolate it. Hind is on site in Orenburg. Current thinking varies as to where the water is coming from last week it was being considered that the 2008 drill into the OWC MAY have BEEN responsible the drill into the OWC wasn’t plugged/cemented until 2010 (this was my favoured theory). But on further investigation by the company it is now looking less likely. Water sampling could help here. I spoke to the company on Friday and suggested this. Yes the oil is flowing and the rates are approx’ 200bopd but that isn’t the end of it. Current thinking on a solution is positive from the company. It may well turn out that the water is seeping in from behind the lining from the Franski which is above the oil. A12 is as it stands commercial, profit is being accrued, I don’t understand how any one can see it as a major negative? It’s disappointing yes, however Oil is flowing and it will get better. Petroneft are similar to Matra, their wells flow at 200/300 bopd. The Independent assessment confirms commerciality with large potential upside there could be 80 million plus barrels. (ML Prospective Recoverable Resources – 29.6 million bbls High Case Prospective Recoverable Resources – 84.1 million bbls) There’s almost certainly significant oil reserves yet to be added and it’s on that basis that (Friday) I purchased a further 500,000 shares at 1.50. My current holding is now in excess of 3,000,000. If you look at the area surrounding the Matra field then you’ll discover that Matra are encircled with producing wells from other oilers. The oil IS there. The problem at the moment is water. I don’t know of any other similar company trading at these ridiculous levels. It’s safe to say that the stock has been plagued with day-traders and shorters looking to turn a quick buck and woeful Investor relations have not been helpful but the basis for sticking with the company hasn’t changed in-fact it’s got firmer. If you go back to 2009 the stoiip being bandied around was thus; STOIIP Low: 75 Best: 217 High: 485 Recoverable Low: 15 Best: 65 High: 194. Anyone wishing to work out the Stoiip can verify this by using the method below.
[m3]
= STOIIP (barrels)
= Bulk (rock) volume (acre-feet or cubic metres)
= Fluid-filled porosity of the rock (fraction)
= Water saturation – water-filled portion of this porosity (fraction)
= Formation volume factor (dimensionless factor for the change in volume between reservoir and standard conditions at surface)
The problem we’ve got is water nothing more nothing less. We’ve got the oil, we’ve got the licence, we’ve got production, we’ve got the infrastructure and we’ve got an experienced Board who will always battle through technical problems. And it’s on that basis that I am as confident as ever that this stock is a super investment over the next 6/12 months. There’s good news on the horizon. It’s your money you can always walk away. I’m here for the long-term. When they get it right there’s going to be more oil flowing than a few thousands barrels a day. Yes it will take time and no doubt further funding but the case for Matra is solid regardless of the moronic few who seek to knock the company at every turn. I’m keeping my powder dry here at the worlds favourite financial Blog and waiting. Believe me Matra will eventually solve and increase the bopd, thus the sp value. I will be unloading an unholy,vitriolic fire-storm upon those, who are even as you read this, posting blatant bullshit. No doubt when it happens they will twist and turn attempting to lie their way out of it. Watch this space and remember.
Viva!
Daniel
loser
Hello there I take it that you are the despicable character who has been plaguing Nick and the Blog (moderator/marketing) with the nasty abusive comments and email over the last 12 months. Nick pinged them over to me last week.
Make no mistake Christian Murphy British Telecom have been contacted they have requested the wordpress comment logs from the WP servers. which Nick is now arranging with WP. Nick has also sent BT your email headers which contain your BT IP AND YOUR BTINTERNET EMAIL ADDRESS. YOUR DISGRACEFUL COMMENTS/EMAILS are sickening. It is only a question of time before you are tracked and traced.
When you are located then expect a knock at the door from the London Metropolitan Police. Hope the wife doesn’t answer the door!
Daniel Levy
Here, here….Dan!
I just love your confidence AND I go along with you. It’s just a matter of patience.
Some have got it most haven’t…good on you.
Keep up the good work!
hi Dan good news from you always welcome, h must be short from 1.55 🙂
Ciao Superdan
i will click ads…;)
Hi Dan whats all this? Christian Murphy mallarkey? Are you going to expose him like you did Spikeydt?
Can’t wait fire me over his IP addy and i’ll run it through the company database. I work for Orange broadband easy peasy to contact BT and request his details.
Pickle
No can’t do that Pickle. I was writing the Matra article and had the comments screen on live then his comment popped up in the spam filter. Thought I’d give him a piece of my mind. A real sick individual this one. Not some one you’d allow near children. We’ll get him. He’ll go quiet now but that will not stop the trace.
Dan
i agree with your comments dan. One think thats was unclear was your statement on reservers. Current are 15.1mmbbls to include the northern section is 24mmbbl. Additional upside is over 80mmbbls. The company should be 4p to 5p as it stands with the water issue
Dear Daniel,
Many thanks for keeping us all fully advised regardfing Matra Petroleum.
Like yourself I purchased more shares on Friday and the company I work for will be buying shares on Monday. At this price the shares are a bargain. There is no doubt the water problem will be overcome soon and I would have thought that there is only one way the shares can go now and thats UP. I look forward to the next 12 months.
What is it they say “Patience is a virtue”. Your knowledge and advice is always grarefully appreciated.
I appreciate your comments Dan and continue to hold. I would suggest you do not “have a go” when it all improves-your investment speaks for itself-in management we say-be responsive-NOT reactive