3,384.41
Shareholders in Petro
Matad Limited, the explorer targeting frontier lands on the
Mongolian-Chinese border, must be wondering what next will come between them
and the company’s first well on the Davsan Tolgoi prospect. First, it was an
unusually long and severe winter that forced a suspension of operations on
Block XX in Mongolia; now an outbreak of foot-and-mouth disease has led to a
blanket vehicle and personnel movement ban in the Dornod aimag, site of the DT-1 well site.
Matad Limited, the explorer targeting frontier lands on the
Mongolian-Chinese border, must be wondering what next will come between them
and the company’s first well on the Davsan Tolgoi prospect. First, it was an
unusually long and severe winter that forced a suspension of operations on
Block XX in Mongolia; now an outbreak of foot-and-mouth disease has led to a
blanket vehicle and personnel movement ban in the Dornod aimag, site of the DT-1 well site.
This is
frustrating for shareholders who, after a heady run-up in shares in the
build-up to the company’s first drilling operations, have had to be contented
with dribs and drabs of newsflow concerning internal team and governance
building ever since severe weather conditions forced the company to shut-up
shop in November. Petro
Matad wasn’t the only operator to hibernate its operations earlier than
expected; PetroChina subsidiary, Daqing Oilfield, which runs an aggressive
drilling operation, had a similar fate.
