Petro Matad announces that Mongolian geophysical contracting company Khet Co., Ltd (Khet) completed acquisition of 200 km of 2D seismic on Blocks IV and V on 19 November, 2013. Preliminary analysis indicates that initial brute stacks of seismic across the prospect area in Block V confirm the previous interpretation and subject to further processing are expected to result in the delineation of at least two prospective drilling locations for 2014.
The initial brute stacks across the prospect area in Block IV shows the presence of a cross fault that indicates an additional trap closure in this area. In light of the encouraging result from the seismic acquisition, Petro Matad has contracted with Khet to acquire a further 30 kms of seismic to confirm this closure as a potential drilling prospect for 2014. This seismic will commence immediately and is anticipated to be completed within one to two weeks.