Matra Petroleum PLC today announces its results for the 12 month period ending 31 December 2013.

Highlights

Corporate

  • Disposal of Arkhangelovskoye Licence for a full consideration of up to US$35 million of which deferred consideration of US$10 million remains outstanding on the date of the report.
  • Phased acquisition of oil and gas leases across the Anadarko Basin in the Texas Panhandle, with independently estimated 15,086 MBOE of net Proved and Probable Reserves.
  • The Company brought 55 wells back to production on the date of the report.

Financial

  • Cash or cash equivalents of US$20.96 million at year end
  • No debt

Outlook

  • Proposed Delisting from AIM to complete US acquisition
  • Planned to drill 60 new wells and complete 70 workovers in 2014
  • Strategy to build on existing acreage position through the active evaluation and selective targeting of further prospective acreage opportunities

Maxim Barskiy, Chief Executive of Matra, commented

"I am very pleased with the significant progress Matra made during 2013 towards becoming an independent of size and scale. Our acquisition in the US provides a springboard for future growth through increased production and targeted acquisitions."

For further information, please contact:

Matra Petroleum plc c/o Pelham Bell Pottinger

Henry Lerwill 020 7861 3169

Canaccord Genuity Limited

Henry Fitzgerald-O'Connor 0207 523 8000

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