9th Aug 2007 07:00
Matra Petroleum PLC09 August 2007 PRESS RELEASE For immediate release: 9 August 2007 Matra Petroleum plc ("Matra" or the "Company") Hungary update - Matra suspends Marcali-1 discovery for testing Matra Petroleum plc has announced today that it is suspending the Marcali-1 wellfor testing of the Pannonian gas discovery. Total depth of 1620 m was reached without encountering hydrocarbon shows in thesecondary Triassic target. The well is now being suspended to allow testing ofthe Pannonian gas discovery which was the primary objective. The drilling rig will be moved off the site and a workover rig will be used toconduct testing on both the Horvatkut-1 and Marcali-1 gas discoveries. Matra's Managing Director, Peter Hind said: "We are planning a testing programme on both discovery wells that will allow usto acquire further data and complete the wells for future production. Using aworkover rig is more cost effective and will allow us time to source the mostappropriate equipment. This will take place in the next couple of monthsdepending upon rig and equipment availability. Work on commercialising thediscoveries will continue in parallel." Matra has a 40% interest in the well and the Inke Concession. A subsidiary ofAspect Energy has a 60% interest in the well and the Inke Concession. AspectEnergy's main Hungarian subsidiary is Hungarian Horizon Energy. 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) 207 7202 2601Yvonne Fraser +44 (0) 207 7202 2609 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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