Business
Block XX Drilling Programme
Block XX Drilling Programme.
About this update from Petro Matad Limited
[{"type":"text","content":"\n \nRNS Number : 1571I Petro Matad Limited 09 June 2011 \n \n\n \nPetro Matad Limited (\"Petro Matad\" or the \"Company\")\n \nBlock XX Drilling Programme\nSpudding of DT-6\nPetro Matad (AIM: MATD) is pleased to announce that the Davsan Tolgoi-6 (\"DT-6\") exploration well was spudded at 14:30 Mongolian time (07:30 hrs BST) on 9 June 2011.\nThe DT-6 well is being drilled vertically to an estimated target depth of 2,100 metres. The well is being drilled by the Company's contractor, DQE International. \nThe DT-6 site is approximately 2.3km SSE of DT-1. DT-6 will test a very thick section of the Tsagaantsav formation, including 234m of the Uppermost Tsagaantsav (Uvgan Gol horizon) within a well-defined northeast-trending paleovalley, as well as 364m of the underlying Lower Tsagaantsav formation.\nA further announcement will be made once drilling is completed, or as appropriate. \nNote to Editors:\nAbout Petro Matad Limited\nPetro Matad is the parent company of a group focussed on oil exploration, as well as future development and production in Mongolia. The Group holds the sole operatorship of three Production Sharing Contracts with the Government of Mongolia. The principal asset is the PSC for Block XX, a petroleum block of 10,340km² in the far eastern part of the country. The two other Blocks, IV and V are located in central Mongolia and jointly cover 71,040km².\nPetro Matad Limited is incorporated in the Isle of Man under company number 1483V. Its registered office is at Victory House, Prospect Hill, Douglas, Isle of Man, IM1 1EQ.\nFurther information:\nPetro Matad Limited\nDouglas J. McGay - CEO \n+976 11 331099\nWesthouse Securities Limited\nRichard Baty / Petre Norton\n+44 (0)20 7601 6100\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END DRLDKCDKKBKDNAK\n ","length":3042,"tagName":"div"}]