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The latest update is out from Petro Matad ( (GB:MATD) ).
Petro Matad Limited has received partial payment of $1.18 million from PetroChina for oil production from its Heron 1 site, representing 70% of the invoiced amount. The remaining 30% is withheld pending confirmation from Mongolian tax authorities regarding customs and VAT charges. Petro Matad is actively engaging with tax authorities to resolve this issue, emphasizing that the withholding is not due to any uncertainty but rather a procedural step.
More about Petro Matad
Petro Matad Limited is a Mongolian oil company listed on the AIM market. The company primarily focuses on oil exploration and production, with a significant market focus in Mongolia.
Average Trading Volume: 6,255,852
Technical Sentiment Signal: Sell
Current Market Cap: £21.89M
For a thorough assessment of MATD stock, go to TipRanks’ Stock Analysis page.