Matra begins drilling at Pamuk-1

Matra Petroleum, the oil and gas exploration and production company working in Central Europe and Russia has spudded the Pamuk-1 well on the Inke Concession in South West Hungary.

Pamuk-1 is the first of the two-well 2008 exploration programme in Hungary on the Inke Concession, where Matra has is operator and has a 40pc interest.

Peter Hind, the company’s MD said that Pamuk-1 will test a structure, highlighted by the 2007 3D-seismic programme. It exhibits a strong Direct Hydrocarbon Indicator (DHI). Success has the potential to add significant value and reduce risks on future drilling.

The other well in the programme is Polany -1. The total cost of the two well programme is $5 million gross ($2 million net to Matra).

Source : www.matrapetroleum.com/