(Alliance News) - Petro Matad Ltd on Thursday said it has started testing operations at the Heron-1 well in the north of block XX, eastern Mongolia.
The oil explorer said the testing operations on Heron-1 are expected to be completed during October.
The DQE testing rig No. 1 has been mobilised from block XIX to the Heron-1 location and rigged up, Petro Matad said, and testing operations have now commenced. If required, the company said reservoir stimulation equipment is in block XIX and is readily available.
Petro Matad shares were trading 6.1% higher on Thursday in London at 4.72 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Petro Matad (MATD)