Petro Matad Ltd. encountered only water-bearing sands in its Velociraptor-1 exploration well in Taats basin, Block V, in central Mongolia.
The primary objective of the well was the Late Jurassic-Early Cretaceous Undur formation and the secondary objective was the Early Cretaceous Shinehudag formation. The well reached a total depth (TD) of 1,500 m and wireline logging has been completed but all reservoirs encountered were water bearing.
The Undur formation was encountered at 1,170 m and had good quality reservoir sands interbedded with shales over about a 200 m interval. Three thick sand units were drilled in the Shinehudag formation and had an average porosity of around 18%. Good quality electric wireline logs confirmed both objectives to be water wet.
The well will now be plugged, and the rig will be demobilized. Well results will be incorporated into the company's interpretation of Block V before any further operational activity is undertaken in the area.