Matra Raises £1.55 million in Placing

PRESS RELEASE

 9th February 2011

Matra Petroleum plc

("Matra" or the "Company")

Matra Raises £1.55 million in Placing.

Matra is pleased to announce a placing of 50,000,000 new ordinary shares at 3.1p per share (the "Placing Shares") to raise £1.55 million before expenses (the "Placing").

The funds will be applied to working capital.

Delek-International Energy has agreed to subscribe for 14,516,129 Placing Shares.

The Placing is being carried out under the existing powers of the directors. Application has been made for the Placing Shares to be admitted to trading on AIM, which is expected to take place on 14th February 2011 when the Placing will be complete.

Matra's Managing Director, Peter Hind said:

"With the issue of the Competent Person's Report and the Production Licence in 2010 we have made substantial progress towards the development of the Sokolovskoe Field. With initial production expected shortly the funds will allow us to finalise development plans and to increase our efforts to find suitable opportunities to grow the company further."

For further Information, please contact:

Matra Petroleum plc www.matrapetroleum.com

Peter Hind, Managing Director Tel: +44 (0) 7990 807855

Neil Hodgson, Exploration Director Tel: +44 (0) 7973 342822

Matrix Corporate Capital LLP Tel: +44 (0) 20 3206 7000

Louis Castro

Tim Graham

Pelham Bell Pottinger Tel: +44 (0) 20 7861 3169