Matra Petroleum Spuds Blue Topaz-9 Well

Matra Petroleum, formerly Ming Resources, has commenced drilling its first exploration well, Blue Topaz-9 located in the northwest corner of the Inke Concession in the Western Pannonian Basin, Hungary on April 15th.

The well is the first stage of an exploration program on the concession that includes reprocessing of existing 2D and 3D seismic, and the review of existing discoveries on the block. It is expected to take 30 days to reach total depth of 2,200m, and will test two independent targets - gas in the Miocene below 1,500m and oil in the deeper Triassic. It is expected to cost €2.5 million (£1.72 million).

Commenting on the Blue Topaz well, Peter Hind, Matra's Managing Director said: "It is an exciting step for Matra to be drilling its first well and the Inke Concession represents an ongoing opportunity for Matra to build on. The results of this first stage will help define the ongoing strategy for the concession and ranking of the current prospect inventory. The Hungarian authorities have been extremely helpful in getting to this stage and are keen to see development of local resources."