TIDMMTA

RNS Number : 5018H

Matra Petroleum PLC

12 July 2012

12 July 2012

Matra Petroleum plc

("Matra" or the "Company")

2D and 3D Seismic Survey Commissioned

Matra is pleased to announce the signing of an agreement with Orenburgskaya Geophysical Expedition (OGE), a subsidiary of Geotech, to conduct a seismic survey on its 100% owned Sokolovskoe oil field in Orenburg, Russia.

The survey will commence on the 1(st) August and will include 100 km of 2D seismic and 60 sq km of 3D seismic. The survey will take up to two months with preliminary results expected by the end of 2012 and final results in Q1 2013.

This survey is designed to evaluate the prospectively of the Sokolovskoe field ahead of any further financial commitment by the Company and as part of a wider strategic review.

Maxim Barskiy, Chief Executive of Matra commented:

"The commissioning of this survey is an important step toward fully understanding the potential of the Sokolovskoe field. The results of the survey will allow us to accurately assess how best to allocate Matra's resources to maximise shareholder value."

For further information, please contact:

Matra Petroleum plc c/o Pelham Bell Pottinger

   Henry Lerwill                                     020 7861 3169

Canaccord Genuity Limited

Rob Collins

   Henry Fitzgerald-O'Connor         0207 523 8000

Notes to Editors:

-- Matra owns 100% of the Arkhangelovskoe Production licence where the first exploration Well A-12 drilled in 2007 discovered the Sokolovskoe oil field. Well A-12 produced high quality oil from a Devonian carbonate reservoir (Aphonenski)

-- Well A-13 was the second well drilled in the Sokolovskoe oil field and was placed on extended test during 2011 when it flowed oil at sustained rates on long-term test. Based on the results of a study by Equipoise Solutions Ltd ("Equipoise"), a specialist geoscience consultancy and all other field data, Energy Resource Consultants Ltd ("ERC"), an independent reservoir evaluation company, completed a Competent Persons Report on the Sokolovskoe oil field that determined P50 recoverable contingent resources of 15.1 million barrels

-- The Arkhangelovskoe Production Licence was awarded on 22nd December 2010 and is valid to 31st December 2030

   --     Further information on Matra is available on its website at www.matrapetroleum.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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