- Mongolian oil explorer Petro Matad said it had completed drill sites for three new wells.

The sites had been prepared for the Heron 1, Red Deer 1 and Gazelle 1 wells, for which water supply wells were also ready.

Rig mobilization notices had been issued to both drilling contractors and customs clearance for their equipment and supplies had been obtained.

Petro Matad said it was on track to start drilling Heron 1 during July, using DQE's rig 40105.

The Gazelle 1 well woukd follow immediately after Heron 1 operations, allowing for a short rig move.

Red Deer 1 was expected to spud before the end of July 2019, using Daton's rig DXZ1.

At 9:26am: [LON:MATD] Petro Matad Ltd share price was +0.08p at 6.95p

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