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Petro Matad announces an update on its planned 2018 Mongolia drilling programme

Gasoil News - Published on Mon, 16 Apr 2018

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Petro Matad, the AIM quoted Mongolian oil explorer, announced an operational update for its planned 2018 exploration drilling programme:

· Interpretation of high quality 3D Seismic data in the Tugrug basin ongoing
· High quality data has identified bright amplitude anomalies which are very encouraging for hydrocarbon prospectivity
· Falcon prospect shown to be smaller than initially anticipated and removed from the drilling programme whilst other more promising prospects identified in the Tugrug basin are analysed and high-graded
· 90 MMbo Snow Leopard prospect (Block V) to be spudded first, with well site civil works commencing in May 2018 and required permitting anticipated to be finalised by the end April 2018. Rig fully contracted and certified
· The 290 MMbo Wild Horse Prospect (Block IV) will be drilled following Snow Leopard, with permitting progressing as planned
· The tender process for a rig for Block XX drilling is near completion with drilling anticipated to commence in H2 2018

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Posted By : Nanda Koijam on Mon, 16 Apr 2018
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