Matra Missteps at Arkhangelovskoe-11, Optimistic about Sokolovskoe

Matra Petroleum plc announces that the Arkhangelovskoe - 11 exploration well on the Arkhangelovskoe License in Orenburg, Russia, has reached TD of 3900m and has been logged.

The well encountered a 10m gross section in the Aphonenski formation corresponding to the reservoir interval seen in Arkhangelovskoe-12. Although only part of the interval was recovered during coring, good oil shows were seen in the core recovered. Two tests were conducted on the interval; however, the upper interval proved to be unproductive and the lower interval produced water.

Logging over the interval has shown the upper section to be oil bearing but of low porosity and hence unproductive. The Aphonenski formation was encountered some 79m low to the pre-drill prognosis. The well is being plugged and abandoned.

"Whilst any unproductive well is disappointing, it doesn't dampen our enthusiasm for this block," said Peter Hind, Marta’s Managing Director. "Well-11 confirms that the existence of oil is widespread across this block and provides us with another tie-in point to the seismic interpretation.

"The end of this well has coincided with us receiving the results of the additional seismic acquired earlier this year and the reprocessing of the previous seismic data set. The results have given us a better understanding of the Sokolovskoe discovery in the north of the block, where it appears that we have penetrated the reservoir only on the flank of the structure and have yet to drill the crest. It has also provided us with confirmation on the structure in the south of the block and therefore upgraded that prospect."

Remapping of both the Sokolovskoe structure and the southern prospect is currently being finalized and we expect that the optimum locations for the next two wells will be finalized shortly. Required permitting for these wells means that the rig will be demobilized and drilling will recommence in the next few months.