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The latest update is out from Petro Matad ( (GB:MATD) ).
Petro Matad Limited has announced that invoices for Block XX Heron 1 production have been processed and are awaiting payment, contingent on confirmation from authorities regarding tax exemptions. The company is enhancing its operations with the implementation of a beam pump at Heron 1, evaluating Heron 2 for reservoir pressure support, and planning further tests at Gazelle 1 and Gobi Bear 1. Additionally, Petro Matad is progressing with its Block VII project, having completed an Environmental Baseline Study and identified promising exploration targets.
More about Petro Matad
Petro Matad Limited is a Mongolian oil company listed on the AIM market. The company is focused on oil exploration and production, with operations primarily centered around Block XX and Block VII in Mongolia.
Average Trading Volume: 6,688,356
Technical Sentiment Signal: Hold
Current Market Cap: £30.79M
For an in-depth examination of MATD stock, go to TipRanks’ Stock Analysis page.