3rd Aug 2009 09:56
PRESS RELEASE
For immediate release: 3 August 2009
Matra Petroleum plc ("Matra" or the "Company")
Matra subsidiary contracts drilling rig.
Matra is pleased to announce that its 100% owned Russian subsidiary "OOO" Arkhangelovskoe" has signed a turnkey contract with Petro-Management Drilling Company for the drilling of well-13 in the Sokolovskoe Field in Orenburg. The rig to be utilised is an Uralmash-4E electric rig.
Site preparation has commenced at the well-13 location and mobilisation of the rig will commence within the next few days. The contract allows for a 6 week period for mobilisation and commissioning of the rig at the new location and drilling to 3850m is expected to take approximately 120 days, after spud, at a cost of $4.5million (excluding VAT).
Matra's Managing Director, Peter Hind said:
"We are pleased to get drilling operations underway - we expect to spud the well in mid-September and to have the well results very early in the New Year. This is a very important well for Matra and we will report again once the well has spud."
For further Information, please contact:
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Matra Petroleum |
www.matrapetroleum.com |
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Peter Hind, Managing Director |
+44 (0) 7990 807855 |
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Aquila Financial Limited (PR) |
www.aquila-financial.com |
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Peter Reilly RFC Corporate Finance (Nominated Adviser) |
+44 (0) 118 979 4100 |
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Steve Allen |
+61894802500 |
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