Matra Petroleum

Robin,
Unfortunately my on-line broker will not deal in Falcon otherwise I would buy them.

The best opportunity to buy MTA is during the next three months.Their next well ( to be drilled by end 1st quarter 2007) is guaranteed to hit gas because they are re-drilling a previous discovery - yes I know the gas could have migrated elsewhere but I think it is a small chance.This is very similar to EME and Eagle.We still have the engineering risks but MTA drilled the blue topaz earlier this year without a hitch so I am confident they can drill the next one without problems.MTA believe they can get 4mmscfd out of the well which is worth many times the current SP. Have a look at recent postings and they will give you an idea concerning the potential of the first target and also a second target wihich looks promising.Speculation alone will not push the SP up because MTA it is relatively unknown to most PI's - hence the inactivity on this board.Cash is about 2.3p per share and the Inke concession must be worth several times that given its size and producing fields around it.I believe MTA are too small to fully develop this concession so my bet is a take over within the next 12 months.Also bear in mind that pipelines are close by and gas fetches a market price so no problems distributing or selling the gas.MTA has so much going for it but very soon 3p will be a memory.