Matra Petroleum (LON:MTA) has released a handful of details about its future plans, including news that a 3D seismic programme will be carried out across the Sokolovskoe field prior to any more drilling work.
It has been a rollercoaster few months for the Russia-focused E&P company, with long time CEO Peter Hind and exploration director Neil Hodgson both departing. Meanwhile, ex-TNK-BP boss Maxim Barskiy has joined as CEO and injected new capital into the business.
In a statement released after trading hours on Thursday, the company said that Well A-13 flow rates at Sokolovskoe were progressing towards a stable level, as expected. The board plans to prioritise running additional 3D seismic data over the full field ahead of drilling the next well, to give greater confidence on future well locations and full field development, it said.
At Matra’s AGM yesterday, Mr Barskiy updated the meeting on his longer term strategy for the group, building on the Sokolovskoe field and considering expansion opportunities both in Russia, focused on specific economic development areas, and internationally. He also introduced certain new members who are joining the company’s operational team. All resolutions were duly passed.
