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Matra Petroleum claims Hungarian exploration license

Oil and gas E&P company Matra Petroleum announced the award of the Mezőcsokonya exploration license in Hungary in a statement.

The new license covers a total of 383 square kilometers (sqk) and is the central area surrounded by the Inke Concession already held by Matra. This area became available for application in 2007. Excluded from the license area are the 4 mining plots that containing existing fields and are held by MOL.

The exploration period is for an initial 4 years and may be extended by two further periods of two years each. The work obligation is to conduct a 3-D seismic survey. Exploratory drilling is expected to follow in due course.

Peter Hind, Matra’s Managing Director said “Our application follows the technical work completed in 2006/7. It gives us further access to the new play fairway identified and is close to existing significant discoveries. It enhances our Hungarian portfolio and we expect to start acquiring seismic later this year.”

Matra has a 40% interest in the Mezőcsokonya exploration license and in the Inke Concession. Horizon Hungarian Energy (HHE), a subsidiary of Aspect Holdings and a leading explorer in Hungary owns the remaining 60%. (press release)