4th Jul 2008 07:00
PRESS RELEASE
For immediate release: 4th July 2008
Matra Petroleum plc ("Matra" or the "Company")
Russian Court Case
Matra Petroleum plc (AIM:MTA) announces that, further to its announcement of "Russian Court Proceedings" on 26 June 2008, it registered a claim against Kompania Gaz i Neft, Victor Vasilyevich Mogdaluk, Pavel Lvovich Lukachevsky and Oleg Nikolayevich Balagurov (jointly "the Sellers") on 2 July 2008 in the London Court of International Arbitration.
The Sellers were the 90% interest holders in "OOO" Arkhangelovskoe prior to its acquisition by Matra in April 2007 pursuant to a share purchase agreement (the "Share Purchase Agreement").
The claim relates to, amongst other things, confirmation of the validity of the Share Purchase Agreement and certain breaches by the Sellers of that agreement.
For further Information, please contact:
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Matra Petroleum |
www.matrapetroleum.com |
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Peter Hind |
+44 (0) 7990 807855 |
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Aquila Financial Limited (PR) |
www.aquila-financial.com |
|
Peter Reilly |
+44 (0) 7881 920542 |
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Matra's Nominated Adviser is RFC Corporate Finance Ltd |
|
|
Steve Allen |
+61 8 9480 2500 |
Related Shares:
MTA.L