Petro Matad is a UK-listed exploration company that is focused on Mongolia.
Petro Matad (MATD)
Renewables JV excites as frustrations persist
Petro Matad provided an operational update on 25 April. The company continues to be frustrated in its attempts to get central government to complete the certification process confirming the exploitation area for Block XX as State Special Purpose Land. However, local government approval shows signs of being attainable and would allow the company to start work on completing Heron-1 as a producing well. Petro Matad also announced that its renewables joint venture, SunSteppe Renewable Energy (SRE), is making good progress on two exciting new projects that could have a significant impact on earnings.
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