Petro Matad is set to kick off its 2019 exploration and appraisal campaign targeting a series of low-cost, near-field and low-risk targets. Drill sites for the three Block XX wells have been constructed and management expects drilling to begin in July 2019. Prospects Heron-1 and Gazelle-1 are analogous to producing fields to the north-east in Block XIX, while Red Deer-1 is more material at 48mmbbls and is located further away from known oil. Petro Matad is funded for 2019 from the net proceed
12 Jul 2019
Petro Matad - 2019 Mongolia drilling campaign kick-off
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Petro Matad - 2019 Mongolia drilling campaign kick-off
Petro Matad Limited (MATD:LON) | 3.6 0 (-2.7%) | Mkt Cap: 40.7m
- Published:
12 Jul 2019 -
Author:
Sanjeev Bahl -
Pages:
7
Petro Matad is set to kick off its 2019 exploration and appraisal campaign targeting a series of low-cost, near-field and low-risk targets. Drill sites for the three Block XX wells have been constructed and management expects drilling to begin in July 2019. Prospects Heron-1 and Gazelle-1 are analogous to producing fields to the north-east in Block XIX, while Red Deer-1 is more material at 48mmbbls and is located further away from known oil. Petro Matad is funded for 2019 from the net proceed