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Petro Matad starts drilling new exploration well in Mongolia www.youinvest.co.uk
Petro Matad said it had started drilling the Wild Horse-1 exploration well in the Baatsagaan Basin in Western Mongolia.
The well was targeting a substantial prospective resources of 480m barrels of oil.
The total depth of the well was 2,200m and it was expected to take between 30 to 45 days to drill and log.
'In the latter case, this would see drilling operations continue into December,' the company said.
'Although winter weather in the area is milder than in Eastern Mongolia, some modifications have been made on the rig to enhance its operability in low temperatures and the company is confident that this will enable completion of well operations before the winter drilling shutdown.
Published Date:2018-10-24
