Operations Update

PRESS RELEASE

 8th March 2011

Matra Petroleum plc

("Matra" or the "Company")

Operations Update

Well-13

Production equipment has now been installed on site and the well is now producing on clean-up flow. Once a stabilised rate is established a further pressure build-up survey will be acquired.

Well-12

The drilling of well-12 sidetrack is now completed and the production liner has been installed. The well will now be completed for production and the rig will be moved off location before commencing production.

Matra's Managing Director, Peter Hind said:

"We are pleased that well-12 has been successfully side-tracked to a location 50m from the original hole and the well has been terminated in the oil reservoir. The well has been completed with a pre-perforated and uncemented liner across the reservoir interval and we hope that will reduce formation damage. Once the rig has been moved off we will begin production testing the well to ascertain its productivity.

Now that a separator and flare-line have been installed at well-13, production has commenced and oil sales will start shortly. The well is now on "clean-up" flow and once stabilised flow is achieved a further pressure build-up survey will be taken to see how we may best improve the well's performance. "

Further announcements will be made as operations progress.

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