Petro Matad updates Mongolia exploration www.ogj.com
Petro Matad Ltd. said it drilled the Snow Leopard exploration well to 2,930 m MD in the Valley of the Lakes basin complex of central Mongolia. The well reached granitic basement on Block V. The Snow Leopard well now will be plugged and abandoned pending evaluation.
No sands were encountered at the shallower of two primary targets although drillers observed gases and an oil sheen in the drilling mud across the interval.
The gases are believed to indicate an active petroleum system in the basin. The oil is suspected to have entered the well from a prospect bounding fault that might be acting as a conduit for migrating oil.
No oil or gas shows were observed in the well’s deeper objective.
Petro Matad focuses on oil exploration in Mongolia. Its assets involve production-sharing contracts over the following exploration blocks:
• Matad Block XX with an area of 10,340 sq km in the far-eastern part of Mongolia near the Chinese border.
• Bogd Block IV and Ongi Block V, adjacent to each other in west central Mongolia, covering about 50,000 sq km.