(Alliance News) - Mongolian oil explorer Petro Matad Ltd said Tuesday it has completed all processes for obtaining the land permits for the Heron and Gazelle well sites.
The company is now waiting for the final signature from the local governor to allow the permits to be issued.
Petro Matad said operations at Heron are continuing as normal, with the drilling and lagging of Heron-1 set to be completed by September 9.
Meanwhile, the company's operations at Red Deer are proceeding as planned, with the well reaching its intermediate casing point and preparations underway to drill the next section.
The Heron, Gazelle and Red Deer wells are all situated in block XX in eastern Mongolia.
Shares in Petro Matad were up 4.5% at 7.52 pence on Tuesday in London.
Petro Matad (MATD)