Source - LSE Non-Regulatory
RNS Number : 4252E
Petro Matad Limited
07 July 2021

The Hoards of Mongolia

Petro Matad is a Mongolian focused E & P company which is anticipating a step change in its operations now that it has secured the Exploitation Licence for its Heron-1 oil discovery from the Mongolian authorities. The company is now making plans to start an early development in 2022 from which it can generate cash flow. This will then be utilised to proceed with a staged full field development and then allow the company to execute an exploration programme. This has the potential to add significantly to asset valuation.

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