Press releases

Regulatory releases


Fourth quarter ended 31 December 2018 (Fourth quarter ended 31 December 2017)


The net present value (PV10) of Matra Petroleum's proved net oil and gas reserves as per 31 December 2018 increased by 75% to 265 million USD (151 million USD*). Proved oil and gas reserves were estimated at 22,758 (20,964*) thousand barrels of oil equivalent ("MBOE"). The increase in value and reserves resulted from successful drilling, an acquisition and higher oil and gas prices.


Third quarter ended 30 September 2018 (Third quarter ended 30 September 2017)


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.


Matra Petroleum's average daily oil and gas production*, gross, in August 2018 increased by 12% to 855 barrels of oil equivalent per day ("boepd") (July 2018: 762 boepd) and by 26% compared to the average consolidated daily production in Q2 2018 (676 boepd).


Second quarter ended 30 June 2018 (Second quarter ended 30 June 2017)


Matra Petroleum's oil and gas production* in the second quarter 2018 increased by 27% to 744 barrels of oil equivalent per day ("boepd) (Q1 2018: 588 boepd)


Matra Petroleum AB and its wholly owned subsidiary Matra Terra LLC ("Matra" or the "Company") and entities controlled by Melody Capital Partners, LP ("Melody") have closed the acquisition initially announced on 14 March 2018, under which Matra acquires 40 oil and gas leases in the Texas Panhandle region, adding proved reserves of approx. 4.0 million barrels of oil equivalent[1] (the "Assets"), effective as of 1 April 2018. The total consideration for the Assets amounts to MUSD 6.2. The consideration is paid through assumption of MUSD 4 in debt and issuance of a promissory note in the amount of MUSD 2.2 by Matra. The promissory note is to be set-off against newly issued shares in Matra through a directed share issue of 4,593,435 shares to Melody (the "Share Issue") as initially announced on April 3, 2018. The Share Issue was valued at MUSD 2.2 and represents 10.38 percent of the outstanding shares in Matra after the transaction.


The annual general meeting ("AGM") of Matra Petroleum AB ("Matra Petroleum" or the "Company") was held today on 23 May 2018 and the following resolutions were passed by the meeting.


First quarter ended 31 March 2018 (First quarter ended 31 March 2017)

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