3rd Jan 2008 08:55
Matra Petroleum PLC03 January 2008 PRESS RELEASE For immediate release: 3rd January 2008 Matra Petroleum plc ("Matra" or the "Company") Matra Spuds second Russian exploration well Arkhangelovskoe - 11 Matra Petroleum plc (AIM:MTA), the oil and gas E&P company focused on CentralEurope and Russia is pleased to announce that the Arkhangleovskoe - 11exploration well on the Arkhangelovskoe License in Orenburg, Russia, spudded onDecember 30th 2007. The well will test the undrilled Laptevskaya structure on the western edge ofthe License area. The well will be drilled to 3850m and is expected to takearound 120 days in total and to cost $4.5 million. The well is targeting 5horizons in the Carboniferous and Devonian below 3100m. As the well is testing a new structure, extensive coring, logging and testingmay be carried out in the prospective zones below 3100m the first of whichshould take around 60 days to reach. Matra's Managing Director, Peter Hind said: "Laptevskaya is a very prospective structure at several horizons and we lookforward to the results of Matra's second well in Russia. Concurrently we areworking on prioritising the other exploration targets on the license." OOO Arkhangelovskoe is a 100% owned subsidiary of Matra and owns 100% of therights attributable to the Arkhangelovskoe License. On 6 November 2007 Matraannounced it had made an oil discovery at Arkhangelovskoe-12, the Company'sfirst exploration well in Russia. The information in this report that relates to technical matters has beencompiled by Dr Neil Hodgson (BSc, Phd) Matra's Exploration Director a PetroleumGeologist with more than 20 years experience and who is a Fellow of theGeological Society and a Member of the Petroleum Exploration Society of GreatBritain (PESGB) . For further Information, please contact: Matra Petroleum www.matrapetroleum.com Peter Hind, Managing Director +44 (0) 7990 807855 Neil Hodgson, Exploration Director +44 (0) 7973 342822 Aquila Financial Limited www.aquila-finacial.com Peter Reilly +44 (0) 118 979 4100 Matra's nominated Advisor is RFC Corporate Finance Ltd - Contact: Steve Allen +61894802500 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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