Matra’s wholly owned subsidiary “OOO” Arkhangelovskoe has been granted a 14 sq km extension to its exploration licence in Orenburg, Russia.

Technical review of the block has revealed a large potential structure on the southern limit of the block that extends beyond the initial boundary of the licence. Application was made to include this additional area in order to encompass the likely extent of this potential structure. The extension was granted by the local authorities within the original terms of the licence.

Peter Hind, Matra’s Managing Director said “This extension will, subject to further technical review, allow us to include this prospect in the forthcoming drilling programme. We are very grateful to the local authorities for their co-operation.”