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Petro Matad spuds Snow Leopard-1 Well in Taats Basin

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Oilfield Technology,

Petro Matad, the AIM quoted Mongolian oil explorer, has advised that the Snow Leopard-1 well (Petro Matad 100%) in the Taats Basin of Block V was spud on the 9 July 2018.

The Snow Leopard-1 well, which is targeting 90 million bbls of oil and is the first of the Company's 2018 four well drilling campaign targeting c. 600 million bbls of oil, is planned to drill to a total depth of c. 3350 m and is expected to take up to 70 days to complete. In the event of a discovery, the Company will bring in a separate rig for testing.

The Company will make a further announcement on completion of drilling operations.

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