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Results of Davsan Tolgoi 2008
Results of Davsan Tolgoi 2008.
About this update from Petro Matad Limited
[{"type":"text","content":"\n RNS Number : 2640K Petro Matad Limited 17 December 2008 \n \n\n\nPETRO MATAD LIMITED \n\nANNOUNCES RESULTS OF DAVSAN TOLGOI 2008 3D SEISMIC SURVEY\nPetro Matad Limited (\"PML\" or the \"Company\"), reported today that the Company has completed the interpretation of its 145 km², 3D seismic survey in the north eastern part of Block XX (the \"2008 3D Seismic Survey\"). The 2008 3D Seismic Survey was undertaken to further mature the Company's most advanced Prospect, 8Ts, to drillable status. The Prospect is to be re-named Davsan Tolgoi which is the local Mongolian nomenclature for the general area of 8Ts.\nThe 2008 3D Seismic Survey was acquired during the second and third quarters of 2008. The Company engaged independent consultants, Isis Petroleum Consultants Pty Ltd (\"ISIS\"), to undertake the interpretation and to integrate the 3D seismic interpretation with appropriate portions of the Company's existing 2D seismic database. \nISIS reported that the 2008 3D seismic data quality is of very good quality and has greatly improved fault definition. Previous 2D data had been acquired using a dynamite source and the 2008 3D data was acquired using a vibroseis source. A good character tie was established between the 2D and 3D data. The overall structural configuration shows great improvement over the structural interpretation based on the 2D seismic data set. The understanding of the reservoir presence, trap integrity, migration pathways and sealing potential over the prospective area has been greatly enhanced by the acquisition of the 3D seismic data set.\nISIS has concluded that the 3D data has increased the mean STOIIP for the Greater Davsan Tolgoi Prospect by 57% to a mean value of approximately 500 MMbbl of oil and that the 3D data has improved the geological probability of success for Davsan Tolgoi by 15% to at least 38%. In addition, two further prospects outside of the Greater Davsan Tolgoi Prospect were identified. Those two prospects (Davsan Tolgoi West and Davsan Tolgoi North) have a mean STOIIP totalling 105MMbbl ...