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Petro Matad ( (GB:MATD) ) has shared an announcement.
Petro Matad Limited has announced several key operational updates, including the commencement of well testing operations at Heron-2 in Block XX, and the receipt of oil sales payments from PetroChina for May and June. The company has secured a three-year extension for its Block XX Exploitation Licence, which includes a customs duty payment holiday, and has withdrawn its application for a new Production Sharing Contract due to unconfirmed coordinates. Discussions for a farm-out agreement for Block XX are ongoing, and the company is focused on resolving tax concerns with PetroChina to ensure full and timely payments.
More about Petro Matad
Petro Matad Limited is an AIM-quoted oil company operating in Mongolia. The company is focused on oil exploration and production, with its primary activities centered around Block XX and other potential exploration areas within Mongolia.
Average Trading Volume: 9,451,079
Technical Sentiment Signal: Sell
Current Market Cap: £15.06M
For detailed information about MATD stock, go to TipRanks’ Stock Analysis page.