Operational Update

16 November 2010

Matra Petroleum plc

("Matra" or the "Company")

Operational Update

Matra Petroleum plc (AIM: MTA), the Russia-focused exploration and production company, announces an operational update on wells A-12 and A-13.

Well A-12

Although mobilisation of the contracted rig to the well-site had begun the rig has been diverted to a TNK-BP operation within Orenburg Oblast and is now expected to be available to begin the side-track programme towards the end of November. The exact date will depend on the completion of TNK-BP's operations.

The selected contractor is a specialist in such operations and has successfully completed many such side-tracks in recent years for TNK-BP, for whom the rig has worked almost exclusively.

Well A-13

Work on well A-13 is progressing and the work-over is expected to be completed in approximately ten days.

Matra's Managing Director, Peter Hind, said:

"For a one-off operation such as the side-track we are always reliant on gaps in the programmes of larger operators. In this case the contractor was required to return to a TNK-BP location but both TNK-BP and the contractor have confirmed that the rig will move to well-12 on completion of the current TNK-BP programme."

For further information, please contact:

Matra Petroleum plc www.matrapetroleum.com

Peter Hind, Managing Director Tel: +44 (0) 7990 807855

Neil Hodgson, Exploration Director Tel: +44 (0) 7973 342822

Matrix Corporate Capital LLP Tel: +44 (0) 20 3206 7000

Louis Castro

Tim Graham

Pelham Bell Pottinger Tel: +44 (0) 20 7861 3169

Henry Lerwill