1 MONGOLIA'S INDUSTRIAL OUTPUT RISES 19.5 PCT IN FIRST 11 MONTHS WWW.XINHUANET.COM PUBLISHED:2018/12/13      2 POWER FOR EVERY STAGE OF THE MINE LIFECYCLE WWW.AGGREKO.COM PUBLISHED:2018/12/13      3 CHINA EXPRESS PLANS SCHEDULED FLIGHTS TO MONGOLIA, LAOS, THE PHILIPPINES AND SINGAPORE IN 2019 WWW.KUCINTA-SETIA PUBLISHED:2018/12/13      4 REVENUE OF RAIL AND AIR TRANSPORTS INCREASES RESPECTIVELY WWW.MONTSAME.MN PUBLISHED:2018/12/13      5 TAX REVENUE INCREASES BY 30.8 PERCENT WWW.MONTSAME.MN PUBLISHED:2018/12/13      6 CONSTRUCTIONAL PROJECT OF THERMAL POWER PLANTS ADVANCES WWW.MONTSAME.MN PUBLISHED:2018/12/13      7 GOVERNOR OF BOM COMMENTS ON FX INTERVENTION OF THIS YEAR WWW.ZGM.MN PUBLISHED:2018/12/13      8 SME DEMAND FOR GREEN CREDIT TOTALS USD 1.5 BILLION WWW.ZGM.MN PUBLISHED:2018/12/13      9 MONGOLIA CALLS FOR POLITICAL FINANCE REFORM AMID POLITICAL TURMOIL WWW.IDEA.INT PUBLISHED:2018/12/12      10 RIO TINTO'S PARTNER IN AUSSIE COPPER PROJECT REPORTS 'WEAK MINERALIZATION' WWW.MINING.COM PUBLISHED:2018/12/12      АГААРЫН БОХИРДЛЫГ БУУРУУЛАХАД БНСУ-ЫН БАНКНААС 60 САЯ АМ.ДОЛЛАР ЗЭЭЛНЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/12/13     2019 ОНД ЭКСПОРТЫН ОРЛОГО ТӨЛӨВЛӨСӨН ХЭМЖЭЭНД ХҮРЭХГҮЙ БАЙХ БОДИТ ЭРСДЭЛ БАЙНА ГЭЖ ЭДИЙН ЗАСАГЧИД АНХААРУУЛАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/12/13     “ЭРДЭНЭС ТАВАН ТОЛГОЙ”-Н IPO-Г ЗАСГИЙН ГАЗАР, УИХ-Д ТАНИЛЦУУЛНА WWW.NEWS.MN НИЙТЭЛСЭН:2018/12/13     ИНФЛЯЦИ 2018 ОН ГАРСНААС ХОЙШИХ ХАМГИЙН ӨНДӨР ТҮВШИНД ХҮРЛЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2018/12/13     ТОКИОД МОНГОЛ УЛСЫН ХУДАЛДААНЫ ТӨЛӨӨЛӨГЧИЙН ГАЗАР НЭЭНЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/12/13     НИЙТИЙН ТЭЭВРИЙНХЭНД 73.4 ТЭРБУМ ТӨГРӨГ ӨГНӨ WWW.UNUUDUR.MN НИЙТЭЛСЭН:2018/12/13     “ОЮУ ТОЛГОЙ” ХХК-ИЙН ХЭРЭГЖҮҮЛЖ БУЙ ДОТООДЫН ТЭТГЭЛЭГТ ХӨТӨЛБӨРТ 2018-2019 ОНЫ ХИЧЭЭЛИЙН ЖИЛД ХАМРАГДАХ 30 ОЮУТАН ШАЛГАРЛАА WWW.OT.MN НИЙТЭЛСЭН:2018/12/13     БНСУ-ЫН БАЙГУУЛЛАГУУД МОНГОЛД ОЙЖУУЛАХ ТӨСӨЛ ХЭРЭГЖҮҮЛНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/12/13     2019 ОНД ХӨГЖЛИЙН БЭРХШЭЭЛТЭЙ ИРГЭДИЙН ТЭТГЭВРИЙГ НЭМЭГДҮҮЛЭХЭД 21.2 ТЭРБУМ ТӨГРӨГ ЗАРЦУУЛНА WWW.UNUUDUR.MN НИЙТЭЛСЭН:2018/12/12     ЕРӨНХИЙ САЙД ЯПОН УЛСЫГ ЗОРИЛОО WWW.DNN.MN НИЙТЭЛСЭН:2018/12/12    

Petro Matad completes 3D survey in Mongolia's Tugrug basin www.worldoil.com

LONDON -- Further to the Company’s announcement on Oct. 4, 2017, Petro Matad, the AIM quoted Mongolian oil explorer has provided an update on its 3D seismic acquisition program.

The planned 3D survey, which focused on defining and de-risking near term drilling targets within the Tugrug basin has been completed. All the Company’s technical objectives were met during the 3D acquisition and preliminary processing (in field) has confirmed excellent data quality. The full 3D dataset has now been transmitted to the processing contractor, Western Geco and full Pre-Stack Time Migration (PSTM) and Pre-Stack Depth Migration (PSDM) processing is underway. Expected turnaround time will be mid first-quarter 2018 for final PSTM data and end first-quarter 2018 for full PSDM data.

The Tugrug basin has a proven working petroleum system which was confirmed with a stratigraphic core hole drilled by the Company in 2011 near the basin margin. The core hole contained live, un-biodegraded oil in good quality sandstone reservoir. The newly acquired 3D data will enable the Company to optimize the drilling location in the Falcon prospect, a target for the 2018 drilling program.

The Company had initially planned to proceed with a small 2D seismic acquisition program in the Tugrug basin following the completion of the 3D survey. However, as this 2D program was designed to identify additional prospects and leads for potential drilling beyond 2018, and therefore does not impact the choice of locations for the 2018 drilling program, the Company has decided to not acquire the Tugrug basin 2D seismic at this time. A factor in this decision is that the Mongolian winter has been harsh and there are only a few grazing lands still accessible to livestock, one of which is in the area where the Tugrug basin 2D survey was planned. Herders and their livestock have therefore entered the area in large numbers. The Company therefore felt it prudent to postpone the 2017/18 Block V 2D seismic program.

The seismic crew has mobilized to Block IV and has commenced the planned 204-km 2D seismic acquisition program over the Khangai basin in the northern part of Block IV, which is anticipated to complete by early February 2018. This survey aims to better define, for potential drilling in future, certain attractive leads identified on regional 2D seismic, gravity and magnetic surveys acquired in 2015.

Further details on the Company's work programme plans in 2018 and 2019 will be announced in due course.



Published Date:2018-01-12