Matra Petroleum has been approved for listing on Nasdaq First North and publishes company description
Matra Petroleum AB (publ) ("Matra Petroleum" or the "Company") has been approved for listing on Nasdaq First North. Trading in Matra Petroleum's shares is planned to commence on 20 April 2017 under the ticker symbol "MATRA". In connection to the listing of the Company shares on Nasdaq First North the Company has prepared a company description (the "Company Description") which as of today is available on Matra Petroleum's website, www.matrapetroleum.com and on Mangold Fondkommission's website www.mangold.se.
The listing on Nasdaq First North
Matra Petroleum believes that the significant decline in the crude oil and gas prices between 2014 and 2016, opens up opportunities for companies with access to capital to acquire and develop low-risk producing oil and gas assets with attractive risk/return characteristics. Matra Petroleum considers that the listing will offer the Company and its shareholders a number of benefits, including:
Support for the Company's objective to develop and acquire producing oil and gas properties going forward;
Enhancing the profile of Matra Petroleum's business and status with existing and potential business partners;
Improved access to the capital market and liquidity for the Company's shareholders; and
Increased flexibility in reviewing and capitalizing on growth opportunities.
Earlier in 2017, Matra Petroleum broadened its Swedish shareholder base through a private placement directed to qualified investors and a public offering. In total the Company raised SEK 48.5 million at SEK 10 per share representing a pre-money valuation of SEK 370 million and a fully diluted post money valuation of SEK 415 million.
The Company's CEO Maxim Barskiy is the main shareholder controlling approximately 63% of the Company's shares through companies. The Company's chairman Eric Forss, privately and through company, holds approximately 5% of the shares
Mangold Fondkommission AB has acted as financial advisor to the Company in connection with the compilation of the Company Description. Baker McKenzie Advokatbyrå has acted as legal advisor to the Company in connection with the listing in respect of Swedish law.
Mangold Fondkommission AB is the Company's Certified Adviser.
Phone: +46 (0) 85 03 01 550
For more information, please contact:
Eric Forss , Chairman, Matra Petroleum AB
Phone number: +46 8 611 49 95
This information is information that Matra Petroleum AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 11 April, 2017, at 14:45 CET.
About Matra Petroleum
Matra is an independent oil and gas exploration and production company operating in the United States where the Company owns and operates 136 leases located in the Texas Panhandle region through its fully owned subsidiary Matra Petroleum Inc. ("Matra USA"). Matra USA was formed in 2013 through a series of mergers and acquisitions in the Texas Panhandle region. Since then, Matra USA has been producing and selling oil and gas in the same area. The Company has grown rapidly and currently owns 38,800 net acres in the Texas Panhandle region with a current daily production of 900 BOEPD and proven net reserves of 22.9 MMboe. Revenues from oil and gas operations amounted to USD 5.7 million (2015: USD 5.5 million) in 2016 and USD 2.0 million in the fourth quarter 2016 (q4 2015: USD 1.1 million).
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Matra Petroleum AB via Globenewswire
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