Seismic Survey Completed at Matra's Russian Field

Matra announced the completion of the field phase of the seismic survey on its 100-percent owned Sokolovskoe oil field in Orenburg, Russia. The survey included 62 miles (100 kilometers) of 2D seismic and 23 square miles (60 square kilometers) of 3D seismic. The Company will now work on data interpretation.

Separately, the Company continues to evaluate acquisition opportunities in line with its stated strategy and looks forward to updating the market as appropriate.

Maxim Barskiy, Chief Executive of Matra commented:

"The completion of the seismic survey is an important operational milestone for Matra and will allow us to accurately determine the future potential of the Sokolovskoe field and best allocate Matra's resources going forward."