Petro Matad ( (GB:MATD) ) just unveiled an announcement.
Petro Matad announced the continued natural flow production of oil from its Heron-1 well without the need for pumping, maintaining a stable rate of over 200 barrels per day. The company has signed a new Production Sharing Contract for Borzon Block VII in Mongolia, which offers an attractive risk profile and low financial commitment, making it a promising candidate for farmout. This contract complements Petro Matad’s strategic focus on expanding its exploration portfolio in Mongolia, potentially enhancing its industry positioning.
More about Petro Matad
Petro Matad Limited is a Mongolian oil company listed on the AIM market. It primarily engages in oil exploration and production, focusing on developing oil fields in Mongolia.
YTD Price Performance: -1.32%
Average Trading Volume: 7,695,766
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £22.26M
For detailed information about MATD stock, go to TipRanks’ Stock Analysis page.