Our Strategy

• Focus resources on further exploration and appraisal of Blocks IV, V and XX
• Seek new prospects and opportunities in the oil sector of Mongolia
• Maintain an active interest in projects which prove to be commercially viable
• Investigate possibilities for in-country downstream processing
• Build upon its strong associations in Mongolia, which includes its strategic shareholder Petrovis

Our Strengths

• Onshore low cost exploration and development
  The basin in Block XX is onshore with near flat topography and the targets are believed to be relatively shallow at between 500 metres and 2,050 metres.
• Proximity to the Chinese energy markets
  There is a ready market, at close to world prices, in China for any oil discovered in Block XX, and there is an established export route.
• Identified leads and prospects
  Interpretation of the 3,189kms of 2D data has identified 3 prospects and 11 leads on Block XX, on which economic analysis justifies further exploration activities.
• Adjacent to a proven hydrocarbon system
  Block XX borders Block XIX which contains producing oilfields operated by Daqing. There is strong evidence that the hydrocarbon system containing the oilfields extends into the north eastern part of Block XX.
• Near term development potential
  Subject to successful exploration, development can follow in the near term.
• Production Sharing Contract (PSC)
  The terms of the PSC on Block XX are internationally competitive.
• Experienced Board of Directors
  The Board of Directors and senior management team has a successful track record both within Mongolia and internationally. 

Since 2006, Petro Matad has carried out extensive exploration on Block XX. This has consisted of re-processing previous data and undertaking programmes of 2D and 3D seismic surveys. Petro Matad is now ready to advance to the next stages of exploration on Block XX and early stage exploration and appraisal of Blocks IV and V.

Block XX

Block XX lies in the far eastern part of Mongolia, 500km from the capital Ulaanbaatar and to the east of the Gobi Desert. The southern boundary of the block is within 30km of the border with China and the northern boundary is within 80km of China.

Petro Matad has created an extensive seismic and other geophysical surveys database over Block XX. The database comprises a total of 3,189km of 2D seismic data, 133km² 3D seismic data and 3,000km² of gravity and magnetic data acquired by Petro Matad.

The interpretation and mapping of the Company’s entire 2D seismic data set matured 3 prospects, confirmed 2 strong leads, and identified 9 leads. The 3D seismic survey was acquired over the most advanced Prospect 8Ts. Upon completion and interpretation of the 3D seismic survey, Block XX’s Unrisked Prospective Resource is 638 MMbbl and Risked Prospective Resource is 112 MMbbl. 

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Block IV

Through its subsidiary Central Asian Petroleum Corporation Limited (“Capcorp”), Petro Matad Limited was awarded Production Sharing Contract on Block IV on 8th July 2009. Block IV lies in the southwest part of Mongolia, approximately 500 km southwest of the capital Ulaanbaatar, and covers an area of 39,011.27km².

Regional scale geological mapping and gravity and magnetic surveys gave a broad indication of the presence of sub-basins which appeared to contain sediments of Jurassic-Cretaceous age and hence may be prospective for oil.

Block IV has sufficient potential to warrant the next step in exploration. Petro Matad is planning to acquire an extensive surface gravity and magnetics programme, a detailed surface geological mapping programme and a regional 2D seismic programme as part of its early exploration programme on the Block.

For further information please CLICK HERE.

Block V

Through its subsidiary Central Asian Petroleum Corporation Limited (“Capcorp”), Petro Matad Limited was awarded Production Sharing Contract on Block V on 8th July 2009 together with Block IV. Block V lies in the central part of Mongolia, approximately 330km southwest of the capital Ulaanbaatar, and covers an area of 32,030km².

Regional scale geological mapping and gravity and magnetic surveys gave a broad indication of the presence of sub-basins which appeared to contain sediments of Jurassic-Cretaceous age and hence may be prospective for oil.

Modern satellite gravity data was combined with geological surface mapping to define the depth and extents of the sub-basins to a reasonable level of accuracy. Careful calibration of the modelling was conducted in three sub-basins in Mongolia where accurate depth information was available from wells and seismic data.

The presence of source rocks in individual sub-basins cannot be proven without drilling wells; however, sub-basins with a depth to basement of less than 2,000 m are unlikely to have generated oil. On this basis, all four of the sub-basins in Block V have potential for oil generation. The largest of the prospective sub-basins has a length of approx 180 km, a width of approx 30 km and a maximum depth of approx 6,000 m.

Block V has sufficient potential to warrant the next step in exploration. Petro Matad is planning to acquire an extensive surface gravity and magnetics programme, a detailed surface geological mapping programme and a regional 2D seismic programme as part of its early exploration programme on the Block.

The Board of Directors:

Dr. Janchiv Oyungerel, Non-Executive Co-Chairman

Douglas John McGay, Chief Executive Officer

Clyde Robert Evans, Finance Director

Mary Ellen Collins, Non-Executive Director

Dr Philip Vingoe, Non-Executive Director

David Skeels, Non-Executive Director

Senior Management:

T. Amarzul, Executive Director of Capcorp Mongolia LLC and Petro Matad LLC

B. Dendevchuluun, General Manager of Petro Matad LLC

Rodney W Graham, Head of Operations of Petro Matad LLC

The Company is aware of the below shareholders who hold 3% or more of the Company’s issued share capital at 13 February 2012.

Updated from Petro Matad website 14.03.2012