Wolf said the assessment found a “substantial prospective oil resource” for the block and identified five potential drilling leaders on the UU and TV sub-basins located on the larger Toson Tolgoi basin.
An independent assessment by MHA Petroleum Consultants confirmed a best estimate prospective resource of 760.5 million barrels of oil across the five leads.
The company is working on an assessment of the Talbulag basin with initial resource estimates expected in the next few months.
Wolf received positive results at the end of last year when it found oil and gas in samples taken from seismic shot holes from the basins.
More than 7500 samples were collected from both basins, with 522 analysed for oil and gas.
High gravity oil seeps were found in 90 samples and medium gravity seeps were found in 32 samples.
Source: Upstream
