Matra Petroleum AB: Matra Petroleum launches drilling program to increase oil and gas production and closes MUSD 10 debt financing

Matra Petroleum ("Matra") plans to double its capital expenditures in 2018 to MUSD 11 (2017: MUSD 5.2) and accelerate drilling and development activities on the company's leases in the Texas Panhandle. Starting in May through 2018, the company plans to drill 24 new wells to increase oil and gas...

London, 03/04/2018 (informazione.news - comunicati stampa - energia)

 "Matra's asset base offers significant development opportunities, and we remain committed to further optimizing drilling and production toward our long-term production target of 6,000 boe per day. Our primary objective is to convert undeveloped reserves to further production growth in 2018. We also expect to add production in our operating area through the recently announced acquisition. Increasing production and higher oil and gas prices will support Matra's revenue, cash flow and earnings going forward," says Maxim Barskiy, CEO of Matra Petroleum AB.

"Melody is excited to continue our partnership with Matra and to support and enable Management's development plan and vision for the future. Maxim Barskiy and his team have a strong, proven track record and the ability to drive meaningful value creation with our strategic investment" says Blake Yaralian, a principal at Melody.

Maxim Barskiy, CEO, Matra Petroleum AB
Tel.: +46 8 611 49 95

This information is information that Matra Petroleum AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 3 April, 2018, at 10:45 CET.