Exclusive: Petro Matad announce fully funded 4 well Mongolia campaign

In an exclusive interview with London South East, Petro Matad CEO Mike Buck gives a detailed operational update on his 2019 drilling campaign in Mongolia. The four wells to be drilled in the 2019 campaign are fully funded. The first three wells to be drilled are Heron, Gazelle and Red Deer, all near field wells on Block XX in Eastern Mongolia, close to existing PetroChina wells and from the same geology. Although the two high impact 'wildcat' wells drilled in 2018 were unsuccessful, Snow Leopard did find 'good shows' of oil and gas, proving for the first time that the basin drilled does have an active petroleum system. CEO Mike Buck said: "It tells you that the basin as a whole is generating hydrocarbons. So we are now analysing prospects to the South of Block V called 'the Raptor Trend' with Velociraptor being the target." #MATD are currently doing a fresh ranking of the Block V targets with Fox or Velociraptor the likely fourth well to be drilled.