Petro Matad provides update on Mongolia operations

Petro Matad, the AIM quoted Mongolian oil explorer, has provided an update on the Heron-1 and Red Deer-1 wells in Block XX, eastern Mongolia.

 

Further to its announcement on the 14th August, the company reports that all processes for obtaining the land permits for the Heron and Gazelle well sites have been completed and issuance of the permits is waiting on final signature by the local governor.

 

In the meantime, operations are continuing as normal at the Heron well site and based on current performance the drilling and logging of Heron-1 are forecast to be completed around the 9th September.

 

Operations at the Red Deer location are proceeding as planned. The well has reached its intermediate casing point and preparations are underway to drill the next hole section.

 

The company confirms that the land permit for the Red Deer well site has been obtained.

 

Source: Energy-pedia