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Frontier Exploration Opportunity in Mongolia Blocks IV, V AND XX
Petro Matad, London AIM-traded oil & gas Exploration Company, offers three production sharing contracts (PSC’s) for blocks IV, V, XX in onshore Mongolia. Petro Matad has an advanced exploration program and plans to drill two firm wildcat wells in 2017 (Blocks IV & V). The blocks offer operationally benign, low HSSE risk, low cost exploration, PSC’s with attractive fiscal terms, robust scoping economics, and nearby Chinese market. The source rocks are extensive, oil-prone lacustrine shale. The reservoir is interbedded fluvial-deltaic-lacustrine sands. The thick lacustrine oil shale outcrops & core have up to 900 m net TsagaanSuvarga oil shales, average TOC of 15.1%, and type I & II kerogens. Basin modelling indicates extensive generation potential in the subsurface.
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