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Petro Matad completes site construction for new Mongolia well www.stockmarketwire.com
Mongolian-focused explorer Petro Matad said site construction for its Wild Horse 1 well was completed on Monday.
The first trucks with rig loads had also departed the Snow Leopard well location and were headed for Wild Horse.
The well was expected to commence drilling in late October and was expected to take between 30 and 45 days to reach its target depth of 2200m.
Operations at the Snow Leopard-1 were completed on 25 September.
'Data and samples gathered during the drilling of the well are now under evaluation to determine the implications of the well results for the surrounding prospectivity,' Petro Matad said.
'The presence of thick shales and oil and gas shows in the well highlight the potential prospectivity of the Taats basin in which a number of other prospects and leads have been mapped.'
At 8:28am: [LON:MATD] Petro Matad Ltd share price was +0.15p at 6.05p
Published Date:2018-10-02
