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Matra Petroleum's Annual Report 2017


Matra in Brief

Matra Petroleum AB is an independent oil and gas exploration and production company with offices in Borger and Houston, Texas, U.S.A and Stockholm, Sweden. The Company was listed on NASDAQ First North in April 2017 and its majority shareholder is Rovelo Investment Ltd (62.7%) which is controlled by the CEO Maxim Barskiy. Matra owns and operates 130 leases in the Panhandle-area, located in northwestern Texas, covering an area of 38,140 acres (15,435 hectares). Matra has 21.0 million barrels of oilequivalent (“MMboe”) of proven (1P) net reserves with about 440 identified drilling opportunities.

In 2018, Matra plans to drill 24 new wells to increase oil and gas production. In addition, an extensive program to improve oil and gas production from existing wells will be executed through workovers and reopening of shut-in wells. Matra is in the process of acquiring an additional 22 producing oil and gas leases in the Texas Panhandle region, which will add approximately 4 million barrels of oil equivalent inproven reserves The Company's long term production target is 6,000 barrels of oil equivalent per day (“BOEPD”) from exploitation of existing assets.

2017 Performance in Brief

  • Revenue of TUSD 9,234 (TUSD 5,682), up 63%

  • EBITDA of TUSD 1,400 (TUSD -745)

  • Result for the period of TUSD -7,126 (TUSD -9,038)

  • Earnings per share, before and after dilution, amounted to USD -0.18 per share (USD -0.27 per share)

  • TUSD 5,701 (before issue costs) raised through new share issues

  • Gross average oil and gas production increased by 19 percent to 671 boepd (564 boepd)

  • 10 oil and gas production wells and 1 salt water disposal well were drilled


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