Petro Matad eyeing two drill targets
Mongolian oil explorer Petro Matad (LON:MATD) expects to identify at least two drilling locations from its recent 2D seismic acquisition.
The explorer completed the acquisition of 200 km of data on Blocks IV and V in Mongolia on 19 November.
Preliminary analysis confirmed previous interpretation of initial brute stacks of seismic across the prospect area in Block V and subject to further processing should delineate at least two prospective drilling locations for 2014, it said.
In addition, Petro said the initial brute stacks across Block IV indicated an additional trap closure in this area and a further 30 km of seismic would be acquired to confirm this closure as a potential drilling prospect for 2014.
The group has three Production Sharing Contracts with the Government of Mongolia.
Block XX has an area of 10,340 sq km in the far eastern part of the country.
Blocks IV and V are located in central Mongolia. Block IV covers approximately 29,000 sqkm and Block V approximately 21,150 sq km.
The explorer completed the acquisition of 200 km of data on Blocks IV and V in Mongolia on 19 November.
Preliminary analysis confirmed previous interpretation of initial brute stacks of seismic across the prospect area in Block V and subject to further processing should delineate at least two prospective drilling locations for 2014, it said.
In addition, Petro said the initial brute stacks across Block IV indicated an additional trap closure in this area and a further 30 km of seismic would be acquired to confirm this closure as a potential drilling prospect for 2014.
The group has three Production Sharing Contracts with the Government of Mongolia.
Block XX has an area of 10,340 sq km in the far eastern part of the country.
Blocks IV and V are located in central Mongolia. Block IV covers approximately 29,000 sqkm and Block V approximately 21,150 sq km.
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