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Drilling Report
Drilling Report.
About this update from Petro Matad Limited
[{"type":"text","content":"\n RNS Number : 9392T Petro Matad Limited 06 October 2010 \n \n\n \n \nPetro Matad Limited (\"Petro Matad\" or the \"Company\")\n \nOperational Update\n \nPetro Matad (AIM: MATD) is pleased to provide an update on its drilling activities on the Davsan Tolgoi Prospect on Block XX in Eastern Mongolia.\n \nDrilling operations on the DT-2 well were completed on 4 October 2010 at a depth of 1,336m below surface. The drill rig is now being moved to the next well, DT-3. Wireline logging has been completed, and the well cased and cemented in preparation for later testing.\n \nPreliminary geological and petrophysical analyses indicated the presence of significant hydrocarbons in three stratigraphic intervals in the lower 275m of the well: the primary objective Tsagaantsav formation; the overlying Upper Zuunbayan formation; and the underlying Sharilyn formation.\n \nUpper Zuunbayan sandstones exhibited mud gas shows, calculated gas saturation, and high porosity (15-20%) in a zone between 1,025m and 1,041m. \n \nThe Tsagaantsav primary objective showed sustained elevated mud gas beginning at the top of the Lower Zuunbayan seal at 1,056m depth, with fluorescence and streaming cut in samples from 1,087m to 1,123m in the Tsagaantsav Formation. Preliminary log analysis indicates that sandstone porosity exceeds 20% in the uppermost Tsagaantsav, with decreasing sandstone quality to 1,125m, and a shale-dominated section to the base of the formation at 1,231m. Log hydrocarbon saturations and elevated pentanes in mud gas persist to 1,177m depth which is the interpreted base of the hydrocarbon column. \n \nA third hydrocarbon zone from 1,293m through 1,298m exhibited streaming cut and fluorescence in the volcaniclastic Sharilyn Formation near the bottom of the well.\n \nThe DT-1 and DT-2 wells lie on the crest and flank, respectively, of the same subsidiary closure along the crest of the Davsan Tolgoi anticline. The hydrocarbon distribution through both wells indicates that they share a common hydrocarbon column in the Tsagaantsav Formation with a base near 1,177m depth in DT-2, at an elevation that is 33m below the deepest Tsagaantsav section in DT-1. The Tsagaantsav reservoir is better developed in DT-1 than DT-2, and this reservoir variation is being...