Petro Matad (PRTDF)

[douginil]

Heron-1 has been drilled to a total depth of 2960 metres

September 9, 2019

Petro Matad Limited ("Petro Matad" or "the Company"), the AIM quoted Mongolian oil explorer, provides the following update on the Heron-1 well in Block XX, eastern Mongolia.


Mike Buck, the CEO of Petro Matad said:

"The results of the Heron-1 well are encouraging. Along with the well and wireline logging data being consistent with our pre-drill prognosis, there is also evidence of zones with better than expected porosity/permeability characteristics. The well will now be tested and we are pushing the contractor to mobilise equipment as quickly as possible. Further updates will be provided in due course."

Heron-1 has been drilled to a total depth of 2960 metres .... the gross reservoir interval in Heron-1 appears to be very similar to the productive reservoirs found in oil wells immediately to the north in Block XIX.


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