MOEs 100% subsidiary Matyushkinskaya Vertikal drilled a successful exploration well in Southern sector of the Ledovoye block in Russia's Western Siberia. The Ledovaya-101 well discovered a promising oil potential in 2 650 meter depth in the Matyushkinskaya block. The well known Jurassic structure of the block contains in this well several layers, from which the primary well-test resulted in 300 bbl good quality oil in-flow. After necessary technical operation and the final well-testing the production is planned to start in Q3 2008. In the area of the recent discovery MOL has carried out high quality 3D seismic survey as well in the Q1 2008, afterward of detailed analysis and interpretation of the survey's results MOL tends to accelerate its exploration and appraisal activity with further more drilling of new possible prospects.
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