Matra Briefs Sokolovskoe Ops

Matra provides an operational update on its 100% owned Sokolovskoe oil field in Orenburg, Russia.

On March 26, 2012, Matra commenced production from Well A-13 flowing oil naturally and, as planned and following the end of the thaw season in Orenburg, a workover rig has now completed the installation of a downhole electrical submersible pump ("ESP") in that well.

The ESP is currently being commissioned onsite. Once the ESP is commissioned, the well will be cleaned up but is likely to take some days before stable production rates can be achieved.

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