8th Jan 2008 07:00
Matra Petroleum PLC08 January 2008 PRESS RELEASE For immediate release: 8th January 2008 Matra Petroleum plc ("Matra" or the "Company") Operational Update - Hungary Matra Petroleum plc (AIM:MTA), the oil and gas E&P company focused on CentralEurope and Russia is pleased to announce that it has signed a contract withRotary Drilling of Hungary to supply a workover rig to conduct productiontesting on the two discovery wells drilled in 2007. The rig is expected to mobilise to Horvatkut-1 later this week and commenceoperations at the weekend. The programme is estimated to take approximately 10days per well. This together with the move from Horvatkut-1 to Marcali-1 andmobilisation and demobilisation means a programme of around 25-30 days in total. Peter Hind, Matra's Managing Director said "The tests will more clearly definethe productive intervals and well capabilities and assist in defining reserves.It is the next step on the road to commercialising these discoveries and animportant milestone in the development of the Concession." Matra has a 40% interest in the wells and the Inke Concession. Horizon HungarianEnergy (a subsidiary of Aspect Energy) owns the remaining 60%. 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.comPeter Hind, Managing Director +44 (0) 7990 807855Neil Hodgson, Exploration Director +44 (0) 7973 342822 Aquila Financial Limited www.aquila-finacial.comPeter 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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