Matra Plugs Up Pamuk-1 Sidetrack Well

Matra Petroleum plc has plugged and abandoned Pamuk-1 ST. Pamuk-1 ST was deviated up dip from the original Pamuk-1 vertical hole. The well encountered the top of the mapped structure some 500m away from the original location and similar oil and gas to those in the original well were seen but logging confirmed the sands to be water bearing. Rotary Rig 42 will be demobilized shortly.

Peter Hind, Matra's Managing Director, further commented, "The top of the structure was encountered as expected and there were oil and gas shows. It's probable, however, that the structure has been breached and only residual hydrocarbons remain. The rig is being demobilized and we will review the implications of this well result for the future program in Inke."

Matra has a 40% interest in the Inke Concession.