Matra Strikes Out Swinging at Hungary's Pamuk-1

Matra Petroleum plc has plugged back the Pamuk-1 exploration well in Hungary's Inke Concession. The well encountered significant oil and gas shows whilst drilling through secondary target horizons and recovered small samples of oil and gas using wireline sampling tools. Drill stem tests were subsequently conducted on 2 intervals and although small amounts of both oil and gas were recovered, both intervals produced water. 

Review of the seismic data shows that the well penetrated this horizon outside structural closure and that there remains a valid structural closure up-dip from the current well location. Given the strong indications of both oil and gas seen in the well Matra has decided to side track the well to test the up-dip structure. The well will be plugged back to approximately 750m and a deviated section drilled to a point some 500m to the North West. These operations are expected to take a further 12-15 days.
The extended program for Pamuk- 1 & 1 ST (1 Sidetrack) means that the drilling of Polany -1 will be deferred to a later date.
"It's clear that the section we encountered in Pamuk was once part of an oil and gas field," said Peter Hind, Matra's Managing Director. "The seismic data shows that the structure was subsequently tilted such that the section encountered in this well is no longer within structural closure. A valid structure up-dip from this location has been identified and it is logical to test it from the existing wellbore."
Matra has a 40% interest in the Inke Concession.