Petro Matad (GB:MATD) has released an update.
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Petro Matad Limited is set to commence oil production from its Heron-1 well in Mongolia’s Block XX area by October 25, 2024, marking a significant milestone for the company. The project, supported by a cooperation agreement with PetroChina, includes the use of nearby facilities for processing and export. This development could potentially enhance Petro Matad’s market presence, drawing interest from investors eyeing growth in the Mongolian oil sector.
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