Matra Spuds Horvatkut-1 in Hungary
Matra Petroleum PLC spudded the Horvatkut-1 well early Friday morning.
The well is located on Matra's Inke Concession in southwest Hungary, is being drilled by Rotary Drilling rig 42, and will appraise the 1983 Som-3 gas discovery.
The well is the first of a two-well exploration program on the Inke Concession Operated by Matra with a 40% working interest.
The well is expected to take 20 days to reach a total depth of 1750m, testing three potential reservoir targets, and is expected to cost a total of US 2.4 million.
Peter Hind, Matra's Managing Director said "We are very pleased to get the 2007
exploration program in Hungary underway with Horvatkut-1. The new 3D seismic
program will start shortly."
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