Matra spuds Arkhangelovskoe-11

Matra Petroleum plc announces that the Arkhangleovskoe - 11 exploration well on the Arkhangelovskoe License in Orenburg, Russia, spudded on December 30th 2007.

The well will test the undrilled Laptevskaya structure on the western edge of the License area. The well will be drilled to 3850m and is expected to take around 120 days in total and to cost $4.5 million. The well is targeting 5 horizons in the Carboniferous and Devonian below 3100m.

As the well is testing a new structure, extensive coring, logging and testing may be carried out in the prospective zones below 3100m the first of which should take around 60 days to reach.

OOO Arkhangelovskoe is a 100% owned subsidiary of Matra and owns 100% of the rights attributable to the Arkhangelovskoe License. On 6 November 2007 Matra announced it had made an oil discovery at Arkhangelovskoe-12, the Company’s first exploration well in Russia.