Petro Matad is the parent company of a group focused on oil exploration, as well as future development and production in Mongolia. The Group’s principal asset is the Production Sharing Contract (PSC) over Matad Block XX, a petroleum block with an area of 14,250km2 in the far eastern part of Mongolia, near the Chinese border. Recently the company signed two more Production Sharing Contracts on Bogd Block IV and Ongi Block V, a total of approximately 71,000km² in central Mongolia. Petro Matad Limited’s shares were admitted to trading on AIM, London Stock Exchange, on May 1st, 2008. The company’s largest shareholder is Petrovis LLC, the largest importer and distributor of petroleum products in Mongolia. The company is the first substantially Mongolian owned company to have its shares admitted to trading on any major international stock exchange.
Doug McGay, CEO of Petro Matad, talks about the company’s first 3 wells being in line with (or exceeding) expectations
Thursday, December 02, 2010
Doug McGay, CEO of Petro Matad, talks about the company’s first 3 wells being in line with (or exceeding) expectations, another 5 sub-basins to explore on the same block, an analogy with the 1 billion barrel field 8 kilometres north, plus 2 more blocks covering 71, 000 square kilometres
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