Matra Petroleum announces that drilling on its Arkhangelovskoe -12 well in Russia is progressing well and in line with the prognosed schedule, having reached 3045m earlier this morning.

An intermediate logging run will be made at 3100m prior to drilling into the target zones. These zones are expected to be encountered below 3200m with the Aphoneski expected at 3675m.

Due to the extensive requirements for coring and testing over these intervals it may take up to a further 40 days to reach the total depth at 3900m when final logging will be conducted.

Matra has a 100% interest in the well and the Arkhangelovskoe License held through its Russian subsidiary “OOO” Arkhangelovskoe.