Operations Update

PRESS RELEASE

 23 September 2010

Matra Petroleum plc

("Matra" or the "Company")

 Operations update

Well-12

After delays in the work-over of well-12 caused by a blockage in the casing that required milling, substantial progress has been made. Production logging has indicated that the water production previously reported in well-12 is coming from a zone below the oil reservoir. This means that there is a likely channel in the cement behind the casing allowing this water to enter the wellbore. Matra's operations team are currently attempting to isolate this water by remedial cementation, prior to recommencing production.

Well-13

Well-13 has been completed, perforated and acidized to maximize the production rate. Production logging in the well has however identified water production from a deeper zone and behind the casing, similar to that seen in well-12. Prior to testing the well and putting it on production a remedial cementation will be attempted to isolate water production. The work-over rig currently on well-12 will move to well-13 on completion of its operation there.

Matra's Managing Director, Peter Hind said: "The production logging carried out shows that water production is not coming from our oil reservoir but from a water zone that is some 10-15m deeper and of course that is good news for the viability of the field but means that it will take a little longer than we initially estimated to get these wells on production."

A further announcement will be made once the operations have been completed.

For further Information, please contact:

Matra Petroleum plc www.matrapetroleum.com

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

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

Louis Castro

Tim Graham

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