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9 Apr 2010 07:00
9th April 2010
Matra Petroleum plc
("Matra" or the "Company")
Operations Update Well-13 and Board Changes
Operations update
Matra today provides an update on appraisal well-13 on the Sokolovskoye field, in the Orenburg region, Russia.
Matra is pleased to announce that the section of hole containing the Nitrogen and loss circulation zones has now been successfully completed. This section has now been logged, cased at 1799m and cemented.
Drilling has recommenced and the depth, this morning, was 1890m.
The anticipated total depth is 3850m with prospective zones below 3300m.
Matra's Managing Director, Peter Hind said
"The mud losses during the last section of hole continued to cause difficulties whilst drilling but are now fully isolated. Drilling to the top of the prospective zones should now proceed more quickly with full results expected in May."
Board change
Matra Petroleum announces that Craig Burton, who is based in Australia and was a founding director of the Company, is stepping down as a non-executive Director of the Company.
Sir Michael Jenkins, Matra Petroleum's Chairman, said:
"Craig's support and assistance to the Board since inception has been invaluable. Now that Matra is more established as a company, Craig wishes to devote more time to his ongoing and new business interests in Australia. We thank him for all his efforts on behalf of the Company and wish him well in his other business endeavours. "
The Company has initiated a search for a new independent non-executive director, which we hope to announce in due course.
For further Information, please contact:
Matra Petroleum plc www.matrapetroleum.com
Peter Hind, Managing Director Tel: +44 (0) 7990 807855
Matrix Corporate Capital LLP Tel: +44 (0) 20 3206 7000
Louis Castro
Anu Tayal
Pelham Public Relations Ltd Tel: +44 (0) 20 7337 1500
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Evgeniy Chuikov |
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