Sorry can't help. Just some observations(a) on the face of it, sounds very attractive being 400 m away from producing fields. However, not so attractive as for MATD to have announced a farm in partner yet. (b) was the APEX presentation part of the struggle to find a partner (c) guess who would win in a battle over unitisation rights: China or Mongolia. I know these are negative observations but sometimes apparently monor issues can be the downfall of an AIM company.
9 Apr '14
A little help please....
Can anyone shed some light on this: Back in 2012 MATD released news that stated the following: From scout data, we understand that Daqing (a subsidiary of Petro China) has recently drilled two new wells very close to the Block XX boundary, both of which have been brought into production. One is 400 metres from the boundary between Blocks XIX and XX. This well has possibly drilled a structure interpreted as continuing into Block XX. Unfortunately we cannot confirm this mapping unequivocally because of inadequate seismic coverage. We may need to conduct a 3D seismic survey to de-risk the interpretation of the area prior to any drilling. The current Petroleum Law in Mongolia contains no provision for unitisation across block boundaries. Here is the link to the RNS: http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11435469 So here is the question: Is MATD planning to intall a well adjacent to the production well installed by Daqing - that is only 400m away from the boundary between Blocks XIX and XX ?
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