Petro Matad Limited is engaged in oil exploration in Mongolia. The Company�s projects consist of Block XX, Block IV and Block V. Block XX is located in the far eastern part of Mongolia, 500 kilometers from the capital Ulaanbaatar and to the east of the Gobi Desert. The basin extends into Block XX and contains an active petroleum system which involves the generation and trapping of petroleum in structures containing sedimentary rocks that were deposited in river and lake environments. Block IV lies in the southwest part of Mongolia, 500 kilometers southwest of the capital Ulaanbaatar, and covers an area of 39,011.27 kilometers square. Block V lies in the central part of Mongolia, 330 kilometers southwest of the capital Ulaanbaatar, and covers an area of 32,030 kilometers square. The Company�s four wholly owned subsidiaries include Capcorp Mongolia LLC, Petro Matad LLC, Central Asian Petroleum Corporation Limited (Capcorp), and Petromatad Invest Limited.