Matra Spuds Second Russian Exploration Well

Matra Petroleum, the oil and gas E&P company focused on Central Europe and Russia has announced that the Arkhangleovskoe-11 exploration well on the Arkhangelovskoe License in Orenburg, Russia, spudded on Dec. 30, 2007.

The well will test the undrilled Laptevskaya structure on the western edge of the License area. The well will be drilled to 3850m and is expected to take around 120 days in total and to cost $4.5 million. The well is targeting 5 horizons in the Carboniferous and Devonian below 3100m.

As the well is testing a new structure, extensive coring, logging and testing may be carried out in the prospective zones below 3100m the first of which should take around 60 days to reach.

"Laptevskaya is a very prospective structure at several horizons and we look forward to the results of Matra's second well in Russia," said Matra Managing Director Peter Hind. "Concurrently we are working on prioritizing the other exploration targets on the license."