MATRA PETROLEUM – GUSHES UP 11%

by Michael on May 15, 2012

MATRA PETROLEUM – RNS

Now with most companies if a KEY Person was to resign, the Share Price would take an expected hit. However, the reverse happened  today with MATRA.  MATRA PETROLEUM the independent oil and gas exploration and production Company with operations in Russia, announced that Neil Hodgson, their Exploration Director, has confirmed his intention to resign from the Board and to leave the Company. This will become effective on 31 May, 2012.

Peter Hind, Managing Director commented:

“It’s sad to see Neil leaving the Company after six years as a valued member of the team.  As Exploration Director, Neil played a key role in the discovery of the Sokolovskoe field. The board wishes to express its sincere gratitude for his tireless effort and contribution to Matra.  We wish him well in the next phase of his career.”

The company is currently considering its senior management organisation and will announce appointments as they are confirmed.

Personally, I think that this is the first of many positive changes we will see in MATRA due to the arrival of MR. BARSKY and the Russian influence. I think he left amicably before he was pushed and I hope that we will get an experienced technical engineer as a replacement who will spend most of his time on the ground on the worksites and potential zones. With good management and aggressive decision taking this minnow could become a bigger and somewhat tasty fish to have in one’s dish !!

Good luck to all holders of MATRA out there, Michael

 

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