ProactiveInvestors: Petro Matad to review data ahead of new drilling campaign

Petro Matad is to review its exploration assets in Mongolia and assess a technical path forward possibly through partnerships, it said today. The company, which recently installed a new management team, added it plans to revisit the data from last year’s troubled drilling campaign at Davsan Tolgoi to lower the risks for a drilling campaign planned for 2013. While this study work is going on, drilling has been suspended for the remainder of 2012 and drilling and workover rigs have been stood down. Petro Matad’s PSCs in Blocks XX, IV and V with the government of Mongolia cover over 60,000 square kilometres and encompass nineteen distinct basinal areas spread throughout the blocks. To read the full article, click herePetro Matad to review data ahead of new drilling campaign

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