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Matra Petroleum PLC - Additional Payment for the Arkhangelovskoe Licence

RNS Number : 8944D
Matra Petroleum PLC
03 April 2014
 

 

3 April 2014

 

Matra Petroleum plc

 

("Matra" or the "Company")

 

Additional Payment for the Arkhangelovskoe Licence

 

 

Matra Petroleum plc (the "Company") announces that the deadline by which the acquirer of the Arkhangelovskoe Licence must either provide the Company with a negative drilling report or pay an additional payment of US$10,000,000 has passed.

 

The Company is therefore in the process of preparing the necessary documents to make a formal request from the guarantor, JSC joint stock commercial bank "Jugra" of Megion City, for the US$10,000,000 payment.

 

The Company expects the formal application to the guarantor to be made shortly and will provide further updates as appropriate.

Enquiries:

Matra Petroleum plc c/o Bell Pottinger

Henry Lerwill                                                                   020 7861 3169

Canaccord Genuity Limited

Henry Fitzgerald-O'Connor                                       0207 523 8000

Neil Elliot

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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MSCEALLAEANLEFF

Quick facts: Matra Petroleum

Price: -

Market: AIM
Market Cap: -
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