Matra Petroleum hoping for two in a row in Hungary

Hot on the heels of its gas discovery announced last week on the Inke Concession, southwest Hungary, Matra Petroleum has spudded the Marcali-1 well located on the same concession.

Marcali-1 is the second of a two well exploration programme on the Inke Concession operated by Matra with a 40% working interest.

Drilling is expected to take 26 days to reach a total depth of 1700m, testing both a potential Pannonian gas reservoir and a potential Triassic oil target. It is expected to cost a total of US$2.6 million.

Peter Hind, Matra's Managing Director commented:

'The Marcali-1 well is our second well to spud in Hungary in the last month. Along with the imminent spudding of our Arkhangelovskoe - 12 well in Russia, this activity demonstrates that we are working hard to explore and appraise opportunities across our portfolio'.