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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Petro Matad Limited | LSE:MATD | London | Ordinary Share | IM00B292WR19 | ORD USD0.01 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.10 | 3.39% | 3.05 | 3.00 | 3.10 | 3.30 | 2.95 | 2.95 | 4,424,133 | 11:46:38 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Oil And Gas Field Expl Svcs | 201k | -2.95M | -0.0026 | -11.73 | 33.97M |
From Apr 2019 to Apr 2024
TIDMMATD
RNS Number : 0460X
Petro Matad Limited
21 November 2017
21 November 2017
Petro Matad Limited
("Petro Matad" or the "Company")
Successful Negotiation of Contract Amendment for Sinopec Drilling Rig
Further to the announcement of 19 September 2017, Petro Matad, the AIM quoted Mongolian oil explorer is pleased to announce it has successfully concluded negotiations with Sinopec on a contract amendment for use of its drilling rig in the 2018 drilling campaign. Substantial commercial concessions were received as a result of the negotiations.
This is an excellent outcome for the Company as the Sinopec rig has now achieved full certification to international standards and as the rig is already in Mongolia (at zero rate to the Company) it will very quickly be able to mobilise to the drilling location in the spring.
The Company currently has a number of drill ready targets and will high-grade the candidates for the planned drilling campaign in Block IV and V following completion of the ongoing seismic campaign, which is expected to conclude in late January 2018.
For more information, please contact:
Hot Features
Premium
Petro Matad Limited
+97 670 141 099 / +97
Mike Buck, CEO 675 751 099
NOMAD and Broker
Stockdale Securities Limited
Richard Johnson / Elhanan
Lee +44 (0)20 7601 6100
Business Advisory Firm
FTI Consulting
Edward Westropp +44 (0)20 3727 1521
About Petro Matad
Petro Matad is the parent company of a group focussed on oil exploration, as well as future development and production in Mongolia. At the current time, Petro Matad holds the sole operatorship of three Production Sharing Contracts with the Government of Mongolia. Block XX has an area of 10,340 km(2) in the far eastern part of the country, and Blocks IV and V have an area of 28,900 km2 and 21,100 km2, respectively, in the southwest part of the country.
Petro Matad Limited is incorporated in the Isle of Man under company number 1483V. Its registered office is at Victory House, Prospect Hill, Douglas, Isle of Man, IM1 1EQ.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
November 21, 2017 02:01 ET (07:01 GMT)
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