Matra Petroleum updates Russian operations

Matra Petroleum plc, an oil exploration company building a substantial oil and gas portfolio in Central Europe and Russia, provides updates on its Russian operations.

The company has completed the successful acid treatment on Well A12, at the Sokolovskoe discovery in the Arkhangelovskoe Licence in Orenburg, Russian Federation, where it holds 100 per cent interest.

Independent consultant Senergy Limited, who prepared the pre-drill independent report on the Sokolovskoe structure, has calculated a recoverable contingent resource range for the Sokolovskoe discovery based on mapping derived from new and reprocessed seismic and with the inclusion of data from A11 and A12 wells.

The consultant claims that the new map shows Well A12 to be on the western flank of the structure and the currently untested crest of the structure to be 37 metres higher and around 2.6km to the East.

The consultant also reviewed the potential development and economics of the field for the best estimate. This case assumes a development with 21 producing wells and 7 water injection wells drilled during the whole field life, with peak production of around 8,500 barrels per day reached in 2012.