Proactiveinvestors United Kingdom Matra Petroleum Proactiveinvestors United Kingdom Matra Petroleum RSS feed en Tue, 28 Jan 2020 20:28:45 +0000 Genera CMS (Proactiveinvestors) (Proactiveinvestors) Matra Petroleum makes move for US oil projects Thu, 31 Oct 2013 09:09:00 +0000 Matra Petroleum to dump Russian licence for US$35mln Tue, 11 Jun 2013 07:02:00 +0100 Matra Petroleum upbeat on outlook, looks at acquisitions Thu, 09 Aug 2012 07:55:00 +0100 Matra Petroleum commissions seismic survey at Sokolovskoe oil field Thu, 12 Jul 2012 09:21:00 +0100 Matra Petroleum appoints Maxim Barskiy as CEO, shares surge Mon, 21 May 2012 08:20:00 +0100 Matra Petroleum exploration director Neil Hodgson to leave company Tue, 15 May 2012 06:55:00 +0100 Matra Petroleum installs ESP in well A-13 to stabilise production Wed, 09 May 2012 08:01:00 +0100 Matra Petroleum eyes new opportunities with backing of Maxim Barskiy Wed, 11 Apr 2012 09:49:00 +0100 Matra Petroleum shareholder Delek completes subscription as part of £1.2 mln fundraising Wed, 16 Nov 2011 07:10:00 +0000 Matra Petroleum raising £1.2 mln in placing and share subscription Fri, 11 Nov 2011 07:33:00 +0000 Matra Petroleum announces workover for Sokolovskoe oil well in Russia Thu, 20 Oct 2011 07:31:00 +0100 Matra's Well-12 stops flowing; says will need additional funds for 3D work and new well Wed, 17 Aug 2011 06:43:00 +0100 Matra Petroleum hopes to improve commerciality of Sokolovskoye field in second half Wed, 10 Aug 2011 08:42:00 +0100 Matra Petroleum shares slump on Sokolovskoe well-12 problems Wed, 20 Jul 2011 09:03:00 +0100 Matra Petroleum says made good progress in 2010, full-year loss narrows Mon, 28 Mar 2011 07:39:00 +0100 Matra Petroleum gives positive update on its new production wells in Russia Tue, 08 Mar 2011 07:06:00 +0000 Matra Petroleum set for new £1.55 mln funding Wed, 09 Feb 2011 07:14:00 +0000 Matra Petroleum's well-13 at Arkhangelovskoe license flows oil at below 100 bpd Wed, 02 Feb 2011 07:13:00 +0000 Matra Petroleum secures 20 year production license for Russian oilfield, shares surge 22 pct Thu, 23 Dec 2010 08:56:00 +0000 Matra Petroleum to raise £5.35 million, bulk for further drilling at Arkhangelovskoe, Russia Tue, 07 Jul 2009 09:56:00 +0100 Matra Petroleum needs more funds to drill next well at Russia’s Arkhangelovskoe License, settles court case Wed, 12 Nov 2008 11:44:00 +0000 Matra plugs Arkhangelovskoe 11 well, shares drop Russia, slumped 22% after plugging the Arkhangelovskoe - 11 exploration well on the Arkhangelovskoe License in Orenburg, Russia.

The well encountered a 10m gross section in the Aphonenski formation, as expected, but unfortunately the upper level had low porosity while the lower level only produced water. The positive news was that the upper level did have oil shows.

Matra's MD, Peter Hind summarised:

"Whilst any unproductive well is disappointing, it doesn't dampen our enthusiasm for this block. Well-11 confirms that the existence of oil is widespread across this block and provides us with another tie-in point to the seismic interpretation."]]>
Thu, 15 May 2008 08:14:00 +0100
Suspended well hits Matra Petroleum
Testing on the Marcali-1 was suspended after the well produced water during testing. Initial results suggested the well either encountered only residual gas or the well intersected the reservoir "at or close to the gas-water contact." Mantra Petroleum has a 40% interest in the Inke Concession, and was free carried on the Marcali-1 well.

Meanwhile in Russia, Matra confirmed that the 100% owned Arkhangelovskoe-12 well would undergo acid treatment in the next few weeks. The well suffered from well bore formation damage during completion operations, which was restricting flow.

Peter Hind, Matra's Managing Director said:

"We need to review the Marcali-1 test details further before coming to a firm conclusion on the future of this well. In the meantime we are continuing to plan our 2008, two well, exploration drilling programme in Hungary. In Russia, we expect to see a higher production rate once the remedial acid treatment on Arkhangelovskoe-12 is completed which will be further increased in due course by installation of a down-hole pump."

Wed, 13 Feb 2008 09:40:00 +0000
Matra Petroleum update fails to please Europe and Russia fell sharply today after releasing an update on activities in Hungary and Russia.

Production commenced from the Arkhangelovskoe-12 well (100% Matra) in the Arkhangelovskoe License, Russia on 31st December 2007 and was producing at around 100 bopd, the Company said. A reperforation and acid stimulation program is now planned to improve productivity. Meanwhile drilling at the Arkhangelovskoe -11 exploration well is continuing and is expected to reach the first Devonian reservoir in around 35 days.

In Hungary progress was less encouraging, with testing of the Horvatkut-1 well on the Inke Concession (40% Mantra) suggesting the well is uneconomic. The rig at Harvatkut-1 is now being moved to Marcali-1 to begin testing operations. Matra also completed 3D seismic modelling which "confirmed the presence of Direct Hydrocarbon Indicators (DHI's) on several of the new prospects recently identified." The Company intends to drill two wells on the new area in the second quarter.

"We are very pleased to have already established profitable production from our discovery in Russia and we are confident that we should improve well productivity very soon with our planned acid treatment and in future by installing a pump. Direct Hydrocarbon Indicators significantly de-risk the exploration prospects in
the new playfairway on the Inke concession, and we expect this to bear fruit as we move forward through our 2008 drilling programme. It's been a busy start to the year and we expect activity to increase throughout the year with more wells in both Russia and Hungary." said Peter Hind, Matra's MD.

Shares in Matra Petroleum fell 27.5%.

Tue, 05 Feb 2008 01:08:00 +0000
Matra Petroleum is Hoping to report well results - from Russia with love Thu, 09 Aug 2007 23:00:00 +0100 Matra Petroleum to test Marcali-1 well in Hungary
The well was drilled to 1620 m without encountering hydrocarbon shows in the secondary Triassic target. A workover rig will be used to test the company’s Horvatkut-1 and Marcali-1 gas discoveries.

Peter Hind, Matra's MD, said:

"We are planning a testing programme on both discovery wells that will allow us to acquire further data and complete the wells for future production. Using a workover rig is more cost effective and will allow us time to source the most appropriate equipment. This will take place in the next couple of months depending upon rig and equipment availability. Work on commercialising the discoveries will continue in parallel."]]>
Wed, 08 Aug 2007 10:58:00 +0100