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Petro Matad ( (GB:MATD) ) just unveiled an announcement.
Petro Matad Limited reported its interim results for the first half of 2025, highlighting the commencement of production from the Heron-1 well and the receipt of its first oil revenues. Despite posting a loss of USD 1.7 million, the company improved its financial position compared to the previous year. The company is actively working on resolving revenue withholding issues with PetroChina and is engaged in negotiations for farm-in partnerships for its Block XX. Additionally, Petro Matad is advancing its renewable energy projects, including a 200MW hybrid wind and solar project, aiming to reduce operational costs and expand its energy portfolio.
More about Petro Matad
Petro Matad Limited is a Mongolian oil company listed on the AIM market. The company focuses on oil exploration and production, with operations primarily in eastern Mongolia. It is also expanding its renewable energy initiatives through a joint venture to develop wind and solar projects.
Average Trading Volume: 9,098,099
Technical Sentiment Signal: Sell
Current Market Cap: £13.57M
For an in-depth examination of MATD stock, go to TipRanks’ Overview page.