Taken From Last RNS17 Aug 2018 16:09
NO news till well completed
10 July 2018
Petro Matad Limited
("Petro Matad" or the "Company")
Spud of the Snow Leopard-1 Well
Petro Matad, the AIM quoted Mongolian oil explorer, is pleased to advise the Snow Leopard-1 well (Petro Matad 100%) in the Taats Basin of Block V spudded yesterday, 9 July 2018.
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The Snow Leopard-1 well, which is targeting 90 MMBO and is the first of the Company's 2018 four well drilling campaign targeting c.600 MMBO, is planned to drill to a total depth of c.3,350 metres and is expected to take up to 70 days to complete. In the event of a discovery, the Company will bring in a separate rig for testing.
The Company will make a further announcement on completion of drilling operations.