I’ll be trying to speak to the company this morning in light of yet another failure to bring A12 on production. Of course I will be updating also!
Keep the faith.
Viva!
Dan
Incorporating the Infamous, "Libellous" Daniel Levi & the Famous BMD Financial Blog
Keep the faith? What faith would that be. This was always on the cards, hence the suppressed SP. In some respects i am pleased A12 is over it was dragging the Company down – no idea why they kept it on a life support machine! Pull the plug and move on. Sadly the dilution will now be less in our favour but we still have an asset known as Soko, a 20Yr Production License, 15.1mmbls OIP and the potential to increase.
Strange how they did not come straight out and say A12 has been P&A’d. Is that too final a saying??? lol
I share your frustration here LT as a long-term holder and believer. There’s got to be a change here the management need to go back to the drawing board. Maybe some new crews or state of the art drilling rigs. They can’t keep consistently failing this has gone on long enough now. Change is needed.
Dan
Drawing a line under A12 now after not getting it right EVER and moving on must be seen, by the Matra BoD, as the right thing to do – for the love of god just drill A14! Raise the funding, any way they choose to do it will hurt the share price, now that cash flow is near nil, put us all out of our misery and get on with it… The oil is there, the license is there, the company remains debt free and there’s still no income – WTF?!?
Dan – MTA have been failing consistently straight from you!! it is trying to find a location with a wrong map in your hand. MTA is a like a wrong map – I am afraid to say you will end up in a wrong place. One too many failures, sometimes you have to put your hand-up and say “I got it wrong” and move on! The blog took a beating after several MTAs failure.
You’re quite right and entitled to your opinion. Hindsight is a killer. However the problem isn’t with the Blog it’s with the company failure to bring the wells onto production. Matra are sat on an oil field with many millions of barrels of oil. The on-going problems are a sympton of the technical challenges Matra have faced. It is this failure to begin production that is currently effecting the company sp. Is it reasonable to believe that after 3 years Matra should have begun production? Of course it is! I still hold Matra stock and will continue to do so for one reason and one reason only. The oil is there. Eventually they will succeed however Investor patience & confidence is shot to pieces WHICH IS FULLY UNDERSTANDABLE.. This will quickly change once the company begin production in earnest. WHAT’S NEEDED HERE IS A NEW company direction vis-a-vis their exploration/production drilling etc Matra need to up their game these Russian crews have failed. The company should bring in western european experts/drilling crews.
Dan
They aint up to it, they have suceeded in nothing so far ,a message : mr hind kindly go and practice oil exploration somewhere else and with someone elses money ! !
No surprises here sadly……just a shame the doom and gloom merchants were right and bailed at much higher levels taking a much smaller loss than the 85% im siiting on now. Its funny how the BOD never bought their own stock all the way from the fall from 5p, despite so much promise of A12/13. Lesson here; never buy into a company where the BOD never buys their own stock. In stark contrast to XEL, (ok the price share is still rubbish) but look how the BOD bought.
Dan, did you get through to anyone at Matra? There is talk of de- listing/suspension and general scaremongering on the BB’s. What’s your take on it?
I’m awaiting Neil to call me back apparently they are still in a meeting. They should ring back approx 3pm this afternoon.
Dan
Did he call you back?
Hi Dan I’m wondering what I have done in my life to deserve all this……..;)
Still holding my shares one day this will come good,oil still there maybe we should get rid of Mr PH did I get pay this month well I thinh he doesn’t deserve this time.
All the best to you hope one day you come to visit me in my office in Milan