New Mongolian well spudded by Petro Matad
Petro Matad, the oil exploration company, has spudded a new exploration well in Mongolia.
The well is the Davsan Tolgoi-9 (DT-9) well and it is being drilled vertically to an estimated target depth of 1,750 metres. The well is being drilled by the company's contractor, DQE International.
DT-9 targets the Lower Tsagaantsav reservoir at a location 2.5 km south of and 220 metres high to the Company's DT-4 well, which recovered oil-saturated core from the Lower Tsagaantsav.
At 10:50am: (LON:MATD) share price was -6p at 89.5p
Story provided by StockMarketWire.com
The well is the Davsan Tolgoi-9 (DT-9) well and it is being drilled vertically to an estimated target depth of 1,750 metres. The well is being drilled by the company's contractor, DQE International.
DT-9 targets the Lower Tsagaantsav reservoir at a location 2.5 km south of and 220 metres high to the Company's DT-4 well, which recovered oil-saturated core from the Lower Tsagaantsav.
At 10:50am: (LON:MATD) share price was -6p at 89.5p
Story provided by StockMarketWire.com
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