Matra Petroleum awarded exploration license in Hungary
  by: OilOnline
  Monday, March 17, 2008

Matra Petroleum plc announced 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.

Peter Hind, Matra's Managing Director said "Our application follows the technical work completed in 2006/7. It gives us further access to the new play fairway identified and is close to existing significant discoveries. It enhances our Hungarian portfolio and we expect to start acquiring seismic later this year."

Matra has a 40% interest in the Mezocsokonya Exploration License and in the Inke Concession. Horizon Hungarian Energy (HHE), a subsidiary of Aspect Holdings and a leading explorer in Hungary owns the remaining 60%.

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