StockMarketWire: Petro Matad well in Mongolia produces no oil

Petro Matad has reported that no oil was recovered during the testing of the Davsan Tolgoi 11 well (DT-11) in eastern Mongolia. However, the company remains confident of being more successful in its other drilling in the area. Commenting on the analysis of the results from DT-11, Petro Matad CEO Doug McGay said: “We are disappointed that the test results from DT-11 have revealed that the crest of Davsan Tolgoi anticline does not contain commercial oil. To read the full article, click herePetro Matad well in Mongolia produces no oil

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