Mongolian oil explorer Petro Matad has highlighted the following in its unaudited interim
results for the six months ended June 30, 2010 and in an update on events since
the end of that period.
– Initial drilling success from Company”s first exploration well

In line with SharynGol”s initiatives
to act as a market leader for transparency among Mongolian Stock Exchange
(“MSE”) listed companies, management is pleased to announce that
Ernst & Young has completed the audit of SharynGol”s 2009
accounts. The Ernst & Young audited accounts will not

MPs elected from Ulaanbaatar held a meeting with the Mayor
and other officials to discuss how services in the city can be improved. Mayor
G.Munkhbayar said the city has to be run with the MNT35 billion allocated from
the state budget this year

Ulaanbaatar has about 15,000 wire poles and their
maintenance is the responsibility of Gereltuuleg Chimeglel LLC. Since the
company is overburdened with work, Tsahilgaan Teever LLC was asked to repair
the poles in Bayangol and Songinokhairkhan districts.

The General Manager of the city, Ch.Bat,

The Tavantolgoi deposit is in Umnugobi aimag and Tavantolgoi
LLC and Energy Resource LLC have been exploiting coal there for quite some
time. Energy Resource initially owned six licenses but has transferred five of
these to the Government and now has just one

The head of the National Development and Innovation
Committee, Ch.Khashchuluun, feels it would be difficult to reduce expenses in
the draft 2011 budget. If the economy has to grow, there must be adequate
investment in infrastructure, even if that means a budget deficit.

Minister of Road, Transportation,
Construction, and Urban Development Kh. Battulga was among the 350 people
attending the “grand opening” of a new facility, dealership and office of Mongolian Star
Melchers (MSM) last month. He congratulated
the company, which supplies and services the Mongolian market

A recently signed Collective
Agreement covering the period July 1, 2010 to June 30 2012 sets the
compensation, benefits and working conditions of Boroo Gold employees at a highly competitive level. It was
signed by representatives of the management and the Trade Union

The Mongolia Investment Summit 2010
in Hong Kong on October 14 will explore the many exciting investment
opportunities on offer, as Mongolia takes advantage of its mineral-rich geology
and location next to China – the world’s fastest growing consumer of natural
resources.
Conference highlights

Untold
mineral wealth lies under Mongolia”s surface – from its mountainous north to
the Gobi desert in the south. The country”s reserves of coal, copper, gold and
uranium have lately become the talk of the world”s mining industry. What”s
happening in this far-away state