Matra Drilling Ahead on Arkhangelovskoe-12 in Russia

Matra Petroleum says that drilling on its Arkhangelovskoe –12 well in Russia is progressing well and in line with the prognosed schedule, having reached 3045m recently. An intermediate logging run will be made at 3100m prior to drilling into the target zones. These zones are expected to be encountered below 3200m with the Aphoneski expected at 3675m. (The Aphoneski formation was tested down-dip on the adjacent block and is the formation evaluated by Senergy and referred to in the background information below.)

Due to the extensive requirements for coring and testing over these intervals it may take up to a further 40 days to reach the total depth at 3900m when final logging will be conducted.

Matra has a 100% interest in the well and the Arkhangelovskoe License held through its Russian subsidiary "OOO" Arkhangelovskoe.

The information in this report that relates to technical matters has been compiled by Dr Neil Hodgson (BSc, Phd) Matra's Exploration Director a Petroleum Geologist with more than 20 years experience and who is a Fellow of the Geological Society and a Member of the Petroleum Exploration Society of Great Britain (PESGB).