About Petro Matad Limited
Petro Matad is the parent company of a group focused on oil exploration, as well as future development and production in Mongolia. The Group’s principal asset is the Production Sharing Contract (PSC) over Block XX, a petroleum block with an area of 18,956km2 in the far eastern part of Mongolia.
Petro Matad intends to focus its resources on further exploration and appraisal
of Block XX. The Group also intends to seek new prospects and opportunities in
the oil sector of Mongolia
and to participate in the exploration and development of those areas.
It is intended that exploration will primarily be carried out by applying
modern data processing and interpretation techniques to geophysical
information, acquiring additional geophysical data and then, subject to future
financing, undertaking drilling programmes where warranted.
In particular the Company intends to acquire, process and interpret up to 100
sq km of 3D seismic data over the 8Ts prospect area, 155 km of 2D seismic data
over the 6Ts strong lead and to reprocess and interpret 330km of existing
seismic data. The objective of the programme is to identify drillable targets
in the north eastern part of Block XX.
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