RNS Number : 2257D
Matra Petroleum PLC
14 May 2012
14 May 2012
Matra Petroleum plc
("Matra" or the "Company")
Allotment of 575,000,000 New Shares and Appointment of Maxim Barskiy to the Board
Matra (AIM: MTA), the independent oil and gas exploration and production Company with operations in Russia, announces that following the approval by Matra shareholders of the resolutions proposed at the shareholder extraordinary general meeting on 9 May 2012, the 575,000,000 new shares in the Company have been formally allotted to Maxim Barskiy.
The Board is also pleased to confirms the appointment of Maxim Barskiy as a director of the Company with immediate effect.
Maxim Gennadievich Barskiy, 38, currently holds directorships at Pechora LNG and CH Gas PTE ltd, and holds partnerships at Avega Capital LLP, Avega Russia Fund LLP, Fealdeas BVI LLP OOO -2000, OOO , and OOO .
In the last five years he has also held past directorships at TNK-BP and West Siberian Resources Ltd, and partnerships at OOO and OOO .
No other disclosures fall to be made pursuant to paragraph (g) (iii) to (viii) of Schedule Two of the AIM Rules.
For further information, please contact:
Matra Petroleum plc www.matrapetroleum.com
Peter Hind, Managing Director +44 (0) 7990 807 855
Neil Hodgson, Exploration Director +44 (0) 7973 342 822
Fox-Davies Capital Limited
Barry Saint (nominated adviser)
Daniel Fox-Davies/Richard Hail +44 (0)20 3463 5010
Pelham Bell Pottinger +44 (0) 20 7861 3169
Notes to Editors:
Matra owns 100% of the Arkhangelovskoe Production licence where the first exploration Well A-12 drilled in 2007 discovered the Sokolovskoe oil field. Well A-12 produced high quality oil from a Devonian carbonate reservoir (Aphonenski).
Well A-13 was the second well drilled in the Sokolovskoe oil field and was placed on extended test during 2011 when it flowed oil at sustained rates on long-term test. Based on the results of a study by Equipoise Solutions Ltd ("Equipoise"), a specialist geoscience consultancy and all other field data, Energy Resource Consultants Ltd ("ERC"), an independent reservoir evaluation company, completed a Competent Persons Report on the Sokolovskoe oil field that determined P50 recoverable contingent resources of 15.1 million barrels.
The Arkhangelovskoe Production Licence was awarded on 22nd December 2010 and is valid to 31st December 2030.
Further information on Matra is available on its website at www.matrapetroleum.com
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