22 June 2007
Matra Petroleum plc announces final results for the year ended 31 December 2006 and Notice of AGM
Matra Petroleum plc, the AIM-listed oil and gas exploration company focused on Hungary and European Russia today announces its final results for the year ended 31 December 2006.
2006 was a formation year for Matra and a year in which extensive review and study work was completed that allowed the following highlights to be achieved in 2007:
Hungary
 2007 exploration programme of 2 wells and 150kms of 3D seismic is underway.
Horvatkut -1 will test an existing gas discovery.
Marcali -1 will test a seismic anomaly – known as a Direct Hydrocarbon Indicator
New 3D seismic will confirm prospects in the new "play fairways".
Russia
Acquisition of Limited Liability Company Arkhangelovskoe in Orenburg in return for 55 million ordinary shares in Matra.
Extension of the Arkhangelovskoe Exploration License to incorporate a large potential structure on the southern edge of the block.
Signing of the drilling rig contract for the first well and well-site construction.
Peter Hind, Matra's Managing Director commented:
"We are continuing to evaluate exploration and production opportunities in Hungary and European Russia with a view to expanding our asset portfolio. Apart from the usual technical criteria applied to new ventures, any new venture must have the potential both to add value for shareholders and fall within financial constraints that maintain shareholders leverage to success.
2007 is both a busy and exciting year for Matra and the current programme has the potential to add substantial value for shareholders."
Annual Report and Accounts
A full copy of the Annual Report and Accounts is being dispatched to shareholders today. A copy will be available for public inspection at the company's office at 120 Bridge Road, Chertsey, Surrey, KT16 8LA and on the company's website www.matrapetroleum.com.
Annual General Meeting
The Annual General Meeting of Matra Petroleum plc will be held at 120 Bridge Road, Chertsey, Surrey, KT16 8LA, UK at 9.00am on 31 July 2007 and simultaneously via video link at 16.00WST at Ground floor 8, Colin Street, West Perth, Australia. Formal notice of this meeting is being dispatched to shareholders today.
For further information, please contact:
Matra Petroleum
www.matrapetroleum.com
Peter Hind, Managing Director +44 (0) 7990 807 855
Aquila Financial Limited
www.aquila-financial.com
Peter Reilly +44 (0) 20 7202 2601
Yvonne Fraser +44 (0) 20 7202 2609
Matra's nominated Advisor is
RFC Corporate Finance Ltd
Contact: Steve Allen +61894802500
Download
press release [PDF, 80KB]
|
