TIDMMTA

RNS Number : 8944D

Matra Petroleum PLC

03 April 2014

3 April 2014

Matra Petroleum plc

("Matra" or the "Company")

Additional Payment for the Arkhangelovskoe Licence

Matra Petroleum plc (the "Company") announces that the deadline by which the acquirer of the Arkhangelovskoe Licence must either provide the Company with a negative drilling report or pay an additional payment of US$10,000,000 has passed.

The Company is therefore in the process of preparing the necessary documents to make a formal request from the guarantor, JSC joint stock commercial bank "Jugra" of Megion City, for the US$10,000,000 payment.

The Company expects the formal application to the guarantor to be made shortly and will provide further updates as appropriate.

Enquiries:

Matra Petroleum plc c/o Bell Pottinger

   Henry Lerwill                                                                   020 7861 3169

Canaccord Genuity Limited

   Henry Fitzgerald-O'Connor                                       0207 523 8000

Neil Elliot

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCEALLAEANLEFF

Matra Petroleum (LSE:MTA)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Matra Petroleum Charts.
Matra Petroleum (LSE:MTA)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Matra Petroleum Charts.