TIDMMTA

RNS Number : 2719A

Matra Petroleum PLC

19 March 2013

19 March 2013

Matra Petroleum plc

("Matra" or the "Company")

Results of 2D and 3D Seismic Survey

Matra is pleased to announce the results of the seismic survey conducted on its 100% owned Sokolovskoe oil field in Orenburg, Russia. The survey included 100 kilometers of 2D seismic and 60 square kilometers of 3D seismic.

Field works, as well as the processing and interpretation of seismic data, have been executed to the highest technical and professional level, with the selected contractors possessing extensive experience of providing analogues services to major Russian oil companies in the Orenburg region. The quality of the completed works on Sokolovskoye field has fully met the objectives set by the Company.

The following interpretation phase works enabled us to correctly determine the configuration of the target horizons and reduce uncertainty in the range of potential reserves:

   --   Databases of the explored area were developed;

-- Stratigraphic control of the reflecting boundaries was carried out with the use of well logging data, well-velocity survey and sonic logging of wells -11, -12, -13.

-- Top of subsalt anhydriteof Irenian horizon was selected as vertical shallowest reflector. Mapping was prepared on the basis of target reflecting boundaries with the use of slowness maps and interval velocity maps.

Seismic results have determined the complexity of the field configuration compared to what was previously mapped as one big structure. The seismic data interpretation identified that the Aphoninsky reservoir of the Sokolovskoye field splits into four separate domes within the boundaries of the license area from south-west to north-east.

Below is a link to a map of the structure:

http://www.rns-pdf.londonstockexchange.com/rns/2719A_-2013-3-18.pdf

Domes one and two (wells A-12 and A-13), that may be classified as oil reserves, are controlled by regional faults on the west. Dome two is limited by a downfold and local faults system on the east.

Domes three and four, that may be classified as prospective resources and are controlled by downfolds and the wells from the nearby Olshanskoye field, encountered the Aphonensky reservoir below anticipated oil water contact. We believe that further exploration potential exists in these two structures in the northeast segment of the license area.

In the light of the new seismic data and the results from wells A-12 and A-13 the Company will prepare a Field Development Plan for Sokolovskoye field. Upon the completion of the Field Development Plan Matra will commission an independent Competent Persons Report. This will provide an updated reserves figure for the areas drilled by wells A-12 and A-13. It will also provide a resources estimate for the prospective structures.

Maxim Barskiy, Chief Executive of Matra commented:

"The improved understanding of the Sokolovskoe oil field will be extremely valuable as we assess the future potential of the field and how to best allocate Matra's resources going forward."

For further information, please contact:

Matra Petroleum plc c/o Pelham Bell Pottinger

   Henry Lerwill                                   020 7861 3169

Canaccord Genuity Limited

   Henry Fitzgerald-O'Connor            0207 523 8000

This statement has been approved by the Company's CTO Igor Indychko with over 21 years of experience in petroleum exploration and production for the purpose of the Guidance Note for Mining, Oil and Gas Companies issued by the London Stock Exchange in respect of AIM companies, which outline standards of disclosure for mineral projects.

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.

-- 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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