Bloomberg News

Russia’s Barsky to Acquire Stake in Oil Explorer Matra Petroleum

April 11, 2012

Maxim Barsky, former deputy chief executive officer of Russian oil producer TNK-BP, is set to buy 29.8 percent of Matra Petroleum Plc (MTA) for 4.6 million pounds ($7.3 million).

Barsky agreed to subscribe for a placing of 575 million new shares at 0.8 pence apiece, subject to shareholder approval, Chertsey, England-based Matra said today in an e-mailed statement. Barsky confirmed the agreement.

The proceeds will help fund operations at Solokovskoye in Russia’s Orenburg region, while bringing “considerable new project acquisition opportunities,” Matra said.

To contact the reporter on this story: Stephen Bierman in Moscow at sbierman1@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net


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