Project Profile
Location: Central Mongolia
Drilling programme: mid 2017
Drilling depth: 3,000-3,500 m
Blocks IV and V are two blocks located in Central Mongolia. On June 2001, Petro Matad completed its farm-out of the blocks to BG Group. BG now holds a 78% working interest in the blocks, after paying Petro US$2.75 million in cash. An additional US$1.8 million cash consideration will be sent to Petro Matad over the next thirty months.
An initial two well wildcat exploration drilling programme is expected to commence in mid-2017. The planned wells will be the first basin and play opener wells in the frontier basins of Central Mongolia, which is one of the last remaining untested exploration areas in Central Asia. The primary objective of the wells will be to target the proven oil producing Upper Jurassic-Lower Cretaceous play found in the basins of eastern Mongolia (Tamtsag, East Gobi) and eastern China (Hailar, Erlian, and Songliao). The secondary objective is the deeper play of Permian-Jurassic in age, analogous to the prolific systems of the western Chinese basins (Junggar, Santanghu and Turpan). (November, 2016)
Operators:
Petro Matad (through Central Asian Petroleum Corp): 100% interest
Contractors:
Bellgeo Enterprises: Contract to conduct an airborne survey on two blocks in central Mongolia to gather exploration intelligence. The contract is for the airborne full tensor gradiometry data acquisition and processing services of Blocks IV and Block V. It will be the first time that such a technique will be used in Mongolia. The programme will start in September 2015 and is expected to gather around 11,000 sq km of data. The results of the programme will be integrated with seismic data to high grade basins and generate prospects for future exploration drilling.