Matra Garners Extension to Orenburg License

Matra Petroleum plc said that OOO Arkhangelovskoe, its wholly owned subsidiary, has been granted a 14-sq-km extension to its exploration license in Orenburg, Russia. The license is located approximately 1,300 km southeast of Moscow.

Technical review of the block has revealed a large potential structure on the southern limit of the block that extends beyond the initial boundary of the license. Application was made to include this additional area in order to encompass the likely extent of this potential structure. The extension was granted by the local authorities within the original terms of the license.

Peter Hind, Matra's Managing Director, said: "This extension will, subject to further technical review, allow us to include this prospect in the forthcoming drilling program. We are very grateful to the local authorities for their cooperation."