Update on Additional Payment

Matra Petroleum Plc

Update on Additional Payment for the Arkhangelovskoe Licence

Further to the announcement of 3rd April 2014, Matra Petroleum plc (the "Company") is pleased to announce that it has received the additional payment of US$10,000,000 from the acquirer of the Arkhangelovskoe Licence.

The Company is therefore no longer applying to the guarantor, JSC joint stock commercial bank "Jugra" of Megion City, for the payment.

Enquiries:

Matra Petroleum plc c/o Bell Pottinger

Henry Lerwill 020 7861 3169

Canaccord Genuity Limited

Henry Fitzgerald-O'Connor 0207 523 8000

Neil Elliot