Petro Matad (GB:MATD) has released an update.
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Petro Matad Limited, the Mongolian oil explorer listed on the AIM, has started completion operations on their Heron-1 oil discovery with expectations to finish by mid-August. The process involves reservoir stimulation and installation of production equipment, setting the stage for production commencement once surface equipment is installed and commissioned. The company is also finalizing cooperative agreements to facilitate processing, transport, and sales of the oil.
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