Matra Contracts Rotary Drilling of Hungary to Conduct Production Testing

Matra Petroleum has signed a contract with Rotary Drilling of Hungary to supply a workover rig to conduct production testing on the two discovery wells drilled in 2007.

The rig is expected to mobilize to Horvatkut-1 later this week and commence operations at the weekend. The program is estimated to take approximately 10 days per well. This together with the move from Horvatkut-1 to Marcali-1 and mobilization and demobilization means a program of around 25-30 days in total.

Peter Hind, Matra's Managing Director said "The tests will more clearly define the productive intervals and well capabilities and assist in defining reserves. It is the next step on the road to commercializing these discoveries and an important milestone in the development of the Concession."

Matra has a 40% interest in the wells and the Inke Concession. Horizon Hungarian Energy (a subsidiary of Aspect Energy) owns the remaining 60%.