Matra Petroleum plc is focused on building a substantial oil and gas portfolio in Central Europe and Russia. Matra (formerly Ming Resources) was listed on AIM in 2005 (AIM: MTA) but became active as an independent oil and gas exploration company in April 2006 with the acquisition of an interest in the Inke Concession in Hungary.

 The Arkhangelovskoe-11 well in Russia

In April 2007, Matra acquired 100% of the Arkhangelovskoe Licence in Russia, a low risk, but potentially high reward area.

Matra is actively exploring both Hungary and Russia and is constantly reviewing new opportunities for investment in both those areas and the other countries of Central and Eastern Europe.

Central Europe provides significant opportunities in proven oil and gas producing provinces in an increasingly open, stable and attractive commercial environment. The dependence upon oil and gas imports from other areas has heightened the need for Central  European countries to develop domestic resources.

By contrast European Russia has substantially greater oil and gas reserves typically encountered in smaller accumulations than seen in the Eastern regions of Russia. In addition to opportunities to acquire known fields requiring further development and optimisation there are also low risk exploration plays that offer potentially high rewards.