The Board of Matra is pleased to confirm that Fox-Davies Capital Limited ("FoxDavies") has been appointed as nominated adviser to the Company with immediate effect. This role is in addition to FoxDavies' existing role as broker to the Company.
For further information, please contact:
Matra Petroleum plc
Peter Hind, Managing Director
+44 (0) 7990 807 855
Neil Hodgson, Exploration Director
+44 (0) 7973 342 822
Fox-Davies Capital Limited
Barry Saint (nominated adviser)
+44 (0) 203 463 5010
Daniel Fox-Davies/ Richard Hail
Pelham Bell Pottinger
+44 (0) 20 7861 3169
Notes to Editors:
Matra owns 100% of the Arkhangelovskoe Production licence where the first exploration Well A-12 drilled in 2007 discovered the Sokolovskoe oil field. Well A-12 produced high quality oil from a Devonian carbonate reservoir (Aphonenski).
Well A-13 was the second well drilled in the Sokolovskoe oil field and was placed on extended test during 2011 when it flowed oil at sustained rates on long-term test. Based on the results of a study by Equipoise Solutions Ltd ("Equipoise"), a specialist geoscience consultancy and all other field data, Energy Resource Consultants Ltd ("ERC"), an independent reservoir evaluation company, completed a Competent Persons Report on the Sokolovskoe oil field that determined P50 recoverable contingent resources of 15.1 million barrels.
The Arkhangelovskoe Production Licence was awarded on 22nd December 2010 and is valid to 31st December 2030.
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