Business
Spudding of DT-9
Spudding of DT-9.
About this update from Petro Matad Limited
[{"type":"text","content":"\n \nRNS Number : 7463L Petro Matad Limited 04 August 2011 \n \n\nPetro Matad Limited (\"Petro Matad\" or the \"Company\")\nSpudding of DT-9\nPetro Matad (AIM: MATD) announces that the Davsan Tolgoi-9 (\"DT-9\") exploration well was spudded at 8.50 p.m. Mongolian time (1.50 p.m. BST) on 3 August 2011.\nThe DT-9 well is being drilled vertically to an estimated target depth of 1,750 metres. The well is being drilled by the Company's contractor, DQE International. \nDT-9 targets the Lower Tsagaantsav reservoir at a location 2.5 km south of and 220 metres high to the Company's DT-4 well, which recovered oil-saturated core from the Lower Tsagaantsav. \nA further announcement will be made once drilling is completed, or as appropriate. \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\n \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 DRLUSSKRARAWRRR\n ","length":2634,"tagName":"div"}]