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2018-10-17 09:46:00

Matra Petroleum AB: Operational update















Matra Petroleum's total oil and gas production*, gross, in the third quarter 2018 increased by 25% to 76,814 barrels of oil equivalent ("boe") (Q2 2018: 61,530 boe). The average daily production increased to 835 barrels of oil equivalent per day ("boepd") (Q2 2018: 676 boepd). In early October, gross daily production reached 1,000 boepd.

In 2018, 16 new production wells have been drilled to date, out of which twelve have been put on production. Four wells are scheduled for completion later in October.

Consolidated oil and gas production, gross

Oil Gas Total Average daily production
(bbl) (MCF) (boe) (boepd)
Q1-18 28,621 145,530 52,876 588
Q2-18 32,020 177,061 61,530 676
Q3-18* 39,113 226,204 76,814 835

* preliminary numbers, based on estimated shrinkage in processing

Third quarter 2018 financial results will be disclosed on 23 November 2018.

For further information please contact:
Maxim Barskiy, CEO, Matra Petroleum AB
Tel.: +46 8 611 49 95

About Matra Petroleum
Matra Petroleum AB (publ) is a Swedish independent oil and gas exploration and production company operating in the United States, where the company owns and operates 170 leases, covering an area of 45,640 net acres in the Panhandle region in Texas. Matra's reserves amount to approximately 25 million barrels of oil equivalent. Matra Petroleum 's shares are traded on NASDAQ First North in Sweden under the symbol MATRA. Mangold Fondkommission AB is Certified Adviser (www.mangold.se, Tel: +46 (0) 8 50 30 1550). Web: www.matrapetroleum.com

MATRA_2018_10_17_eng

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This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Matra Petroleum AB via Globenewswire