29 September 2006
Interim results for the six months ended 30 June 2006
Matra Petroleum, the oil and gas exploration company focused on accessing the upstream oil and gas opportunities presented in Central Europe, today announces its interim results for the six months ended 30 June 2006.
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
INTERIM REPORT
FOR THE SIX MONTHS ENDED 30 JUNE 2006
[extract]
MANAGING DIRECTOR'S STATEMENT
I am pleased to present to you the Interim Report of Matra Petroleum plc for the period ended 30 June 2006.
The main activities during this period were presented in our 2005 Annual Report. The Company was extremely active during this period with re-listing on AIM, fund raising, acquiring Inke Petroleum Pty Ltd and the drilling of our first well in Hungary.
In addition to our office in Budapest we have opened an office in Chertsey as our headquarters and our website www.matrapetroleum.com is now operational.
Neil Hodgson joined us as Exploration Director at the end of May and has been undertaking a review of the exploration potential of the Inke Concession and supervising the reinterpretation of the 3-D seismic data and the AVO analysis to assist in hydrocarbon identification.
I am pleased to say that we have achieved our objectives with this review by:
 Defining two drilling targets within the 3-D area
Highlighting several prospects in the other areas of the block
More details were given in the press release dated 25 September 2006.
Although the rig market in Hungary has tightened a little we expect that we will be able to drill the next exploration well in early 2007.
Work on the existing 2-D seismic on the remainder of the block is continuing and it is likely that we will acquire further seismic to better define these prospects.
Our second main objective is to broaden the Company's portfolio by acquiring further low risk exploration and/or production opportunities. We have also been very active on that front and continue to review projects both within Hungary and in nearby countries. It is difficult to report meaningfully on such activity given its confidential nature but whilst we haven't yet identified and secured the next project for Matra, our work so far gives us confidence that we will be successful in acquiring additional assets that add value for shareholders.
We have achieved great progress this year so far and with a very small and cost effective team. Our balance sheet shows that we are well funded to continue the exploration of the Inke Concession and to bring new projects into Matra.
I thank you for your continued support and will report on further progress as it happens.
Peter Hind
Managing Director
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