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The latest update is out from Petro Matad ( (GB:MATD) ).
Petro Matad Limited announced its final results for 2024, marking a transformative year with the start of oil production from the Heron-1 well, making it the third oil producer in Mongolia. Despite challenges with the Heron-2 well, the company continues to advance its projects, including a renewable energy joint venture, Sunsteppe, which is well-positioned in Mongolia’s growing energy sector. The company signed an oil sales agreement with PetroChina, receiving its first payment in June 2025, and is actively seeking farm-in partners to accelerate development and enhance shareholder value.
More about Petro Matad
Petro Matad Limited is a Mongolian oil company focused on exploration, development, and production. It holds a 100% working interest in the Matad Block XX and Borzon Block VII Production Sharing Contracts in Mongolia, with operations supported by local and central government agencies.
Average Trading Volume: 6,468,295
Technical Sentiment Signal: Sell
Current Market Cap: £18.92M
For detailed information about MATD stock, go to TipRanks’ Stock Analysis page.