Petro Matad spuds Snow Leopard-1 well in Mongolia


ULAANBAATAR, Mongolia -- 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 spudded on July 9, 2018.

The Snow Leopard-1 well, which is targeting 90 MMbbl and is the first of the Company's 2018 four well drilling campaign targeting ~600 MMbbl, is planned to drill to a total depth of ~3,350 mand 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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