17th Mar 2008 08:13
Matra Petroleum PLC17 March 2008 PRESS RELEASE For immediate release: 17 March 2008 Matra Petroleum plc ("Matra" or the "Company") New Exploration License Awarded in Hungary Matra Petroleum plc (AIM:MTA), the oil and gas E&P company focused on CentralEurope and Russia is pleased to announce the award of the MezocsokonyaExploration License in Hungary. The new license covers a total of 383 sq km andis the central area surrounded by the Inke Concession already held by Matra.This area became available for application in 2007. Excluded from the licensearea are the 4 Mining Plots that containing existing fields and are held by MOL. The exploration period is for an initial 4 years and may be extended by twofurther periods of two years each. The work obligation is to conduct a 3-Dseismic survey. Exploratory drilling is expected to follow in due course. Peter Hind, Matra's Managing Director said "Our application follows thetechnical work completed in 2006/7. It gives us further access to the new playfairway identified and is close to existing significant discoveries. It enhancesour Hungarian portfolio and we expect to start acquiring seismic later thisyear." A map of the new area is shown on our website www.matrapetroleum.com. Matra has a 40% interest in the Mezocsokonya Exploration License and in the InkeConcession. Horizon Hungarian Energy (HHE), a subsidiary of Aspect Holdings anda leading explorer in Hungary owns the remaining 60%. 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 +618 94802500 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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