29th Jun 2006 07:00
Matra Petroleum PLC29 June 2006 PRESS RELEASE For immediate release: 29 June 2006 Matra Petroleum plc Matra's Hungarian Concession Extended Matra is pleased to announce that is has received formal notification from theMining Bureau of Hungary that the exploration period pertaining to the InkeConcession in Hungary has been extended by two years until 2 July 2008. Matra's Managing Director, Peter Hind, said "The extension allows us to preserveour rights over the entire concession and ensures sufficient time to fullyevaluate the area. It is very good news and again demonstrates the Hungarianauthorities commitment to developing domestic resources by encouraging foreigninvestment, and is in response to the high level of activity on the concessionby Matra since acquiring the interest." The Inke Concession covers 2297 sq kms and is located approximately 120kms tothe south west of Budapest. Matra has a 100% working interest in the InkeConcession and expects to recommence drilling later this year. The InkeConcession expires in 2030 and Matra may apply for Mining Plots at any timeprior to July 2009 in order to retain specific areas of the concession until itsexpiry in 2030. For further information, please contact: Matra Petroleum, www.matrapetroleum.comPeter Hind, Managing Director, +44 (0) 7990 807 855 Aquila Financial Limited, www.aquila-financial.comPeter Reilly, +44 (0) 20 7202 2601Yvonne Fraser, +44 (0) 20 7202 2609 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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