Matra Petroleum plc, the oil and gas E&P company focused on Central Europe and Russia provides its 2008 programme for its Inke Concession in Hungary.

• Production testing on Horvatkut and Marcali discoveries • Successful tests will lead to production in 2008 • 3D seismic reveals further prospects with Direct Hydrocarbon Indicators • Two well exploration programme commencing end of first quarter

A programme of production testing utilising a workover rig will commence in January on the 2007 Horvatkut-1 and Marcali-1 discoveries. The programme for each well is expected to take about 10 days and the wells will then be completed for production.

Nearby gas transportation infrastructure can be accessed relatively easily and successful testing should lead to gas sales in late 2008. In anticipation work is underway to convert certain areas of the Inke Concession into Mining Plots (Hungarian production licenses).

Processing of the 2007 3D seismic survey is almost complete and a number of prospects have been identified that exhibit Direct Hydrocarbon Indicators (DHI’s). Further modelling will take place to prioritise the prospects for drilling and local approvals are being sought in order to drill two exploration wells commencing at the end of the first quarter 2008. Matra’s Managing Director, Peter Hind, said:

“The 2007 gas discoveries have proved our DHI techniques and the new seismic has uncovered new prospects of a similar type. The focus of the 2008 programme is to define our discovered reserve base and bring it on to production whilst evaluating the full extent of the exploration potential of the block. 2008 should prove to be another interesting year in the development of the Inke Concession.”

Matra has a 40% interest in the wells and the Inke Concession. A subsidiary of Aspect Energy has a 60% interest in the wells and the Inke Concession. Aspect Energy’s main Hungarian subsidiary is Hungarian Horizon Energy.