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26 May 2010 07:00
PRESS RELEASE26th May 2010
Matra Petroleum plc
("Matra" or the "Company")
Well-13 Results
Well-13 Results
Matra today provides the results of appraisal well-13 on the Sokolovskoe field, in the Orenburg region, Russia.
Drilling of well-13 has been completed at a total depth of 3718m. The well has been cored, logged and tested across various prospective zones. Logging and coring showed a net oil interval of 7m in the main Aphonenski reservoir of which 5m was included in the test interval. A short open-hole drill stem test was conducted and the interval produced clean oil at a rate of 110 bopd.
Whilst porosity and permeability were poorer than in well-12, net oil pay was 7m compared to 6m in well-12. Analysis of the test data showed formation damage that may be removed at a later point by acidizing, which may allow higher production rates. Installation of a pump may further improve productivity from this well.
The well will now be cased and suspended whilst the rig is demobilised. A work-over rig will then be mobilised to complete and acidize the well in order to commence production.
Matra's Managing Director, Peter Hind said:
"These initial results from well-13 and poorer reservoir quality will impact our in-house pre-drill resources estimates. However, we look forward to analysing the test data from well-13 after acidization, which, together with additional 3D seismic acquisition and a work-over of well-12, should allow us to optimise future field development. "
For further Information, please contact:
Matra Petroleum plc www.matrapetroleum.comPeter Hind, Managing Director Tel: +44 (0) 7990 807855
Matrix Corporate Capital LLP Tel: +44 (0) 20 3206 7000Louis CastroAnu Tayal
Pelham Bell Pottinger Tel: +44 (0) 20 7861 3148 Evgeniy Chuikov Henry Lerwill
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