Matra awarded new license in Hungary

Matra Petroleum plc, the oil and gas E&P company focused on Central Europe and Russia reports the award of the Mezocsokonya Exploration License in Hungary. The new license covers a total of 383 sq km and is the central area surrounded by the Inke Concession already held by Matra.

This area became available for application in 2007. Excluded from the license area are the 4 Mining Plots that containing existing fields and are held by MOL.

The exploration period is for an initial 4 years and may be extended by two further periods of two years each. The work obligation is to conduct a 3-D seismic survey. Exploratory drilling is expected to follow in due course.