Matra announced the signing of an agreement with Orenburgskaya Geophysical Expedition (OGE), a subsidiary of Geotech, to conduct a seismic survey on its 100% owned Sokolovskoe oil field in Orenburg, Russia.
The survey will commence on the 1st August and will include 100 km of 2D seismic and 60 sq km of 3D seismic. The survey will take up to two months with preliminary results expected by the end of 2012 and final results in Q1 2013.
This survey is designed to evaluate the prospectively of the Sokolovskoe field ahead of any further financial commitment by the Company and as part of a wider strategic review.
Maxim Barskiy, Chief Executive of Matra commented:
“The commissioning of this survey is an important step toward fully understanding the potential of the Sokolovskoe field. The results of the survey will allow us to accurately assess how best to allocate Matra’s resources to maximise shareholder value.”
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