The parliament of Mongolia passed a new petroleum law aiming to boost foreign investment and make oil one of the nation’s leading industries.
Wolf Petroleum (Wolf) is an ASX lised company (ASX:WOF) with focus on oil and gas exploration, development and production in Mongolia.
Wolf’s main objective is to increase its value and build a strong local presence in the new and rapidly growing Mongolian multi billion oil industry. Wolf seeks value growth through acquisition and aggressive exploration.read more
Independent resource assessment estimated over 460 million to 2.2 billion barrels of oil on eight drilling targets.
Initial prospective oil resources are being independently estimated.
560 km of 2D seismic programme planned on the major basins indentified on Jinst block.