Petro Matad Ltd. passed a key milestone recently when it
spudded its long-awaited first well in Mongolia, after having been stopped on
its tracks by unusually harsh winter weather conditions and then a regional
shut down due to an outbreak of foot and mouth disease. The Davsan Tolgoi-1
wildcat in Block XX in the east of the country is being drilled vertically to a
depth of 1,440 meters. It should take 30 days to complete and, as the first of
three planned wells on the 14,250 sq km block, will be a key test of Petro
Matad’s strategy. It has taken Petro Matad four years, and no inconsiderable
expense, to get to the point of drilling its first well and the London Stock
Exchange AIM-listed company is obviously planning to make the most of every
downhole data set. This is certainly going to be key test of Petro Matad’s
ambitions in Mongolia.