Petro Matad (GB:MATD) has released an update.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Petro Matad Limited, a Mongolian oil exploration company, experienced a challenging 2023 due to delays in government certification for Block XX, but made progress by securing local land access approvals and is preparing for Heron 1 well completion in 2024. Despite a dry well in Block V, the company raised $6.6 million for exploration and renewable energy ventures and is actively pursuing green energy projects. Financially, Petro Matad ended the year with a net loss of $5.93 million and a cash position of $4.5 million.
For further insights into GB:MATD stock, check out TipRanks’ Stock Analysis page.
