Source: Petro Matad              Date: August 24, 2011

Exploration of the Davasan Togloi-9 (DT-9) oil well owned by Petro Matad is producing positive results, reported the company. The company is employing 3D mapping software in coordination with drilling techniques.

"DT-9 is the latest successful well in the Company's Davsan Tolgoi exploration program and we are pleased to note such a good, solid interval of hydrocarbons,” said Petro Matad CEO Doug McGay. The Davsan Tolgoi Shoroo Prospect is now starting to develop very satisfactorily, considering the success of DT-9 and the previously drilled DT-4, together with the recently completed re-mapping of the reprocessed 3D seismic data in this area.

The CEO went on further to say that using computer software the company is compiling a great deal of datum on the site.

Future drilling locations are being prepared in another part of Shoroo Prospect, where the Lower Tsgaantsav Reservoir sits 100 meters above DT-9.