ADVFN Logo ADVFN

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

MATD Petro Matad Limited

1.60
0.10 (6.67%)
18 Dec 2024 - Closed
Delayed by 15 minutes
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 6.67% 1.60 1.55 1.65 1.625 1.50 1.50 4,865,064 11:45:17
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Oil And Gas Field Expl Svcs 351k -5.93M -0.0042 -3.81 21.31M

Petro Matad Limited Investor Presentation & Forward Work Programme

10/07/2024 7:00am

RNS Regulatory News


RNS Number : 7543V
Petro Matad Limited
10 July 2024
 

Petro Matad Limited

('Petro Matad' or the 'Company' or the 'Group')

Investor Presentation & Forward Work Programme

LONDON, 10 July 2024: Petro Matad Limited, the AIM quoted Mongolian oil company announced on 5 July 2024 that Mike Buck, Chief Executive Officer, and members of the Company's management team will make an Investor Presentation on the Investor Meet Company platform today at 10:30 BST.

The Investor Presentation will go into further details on the 2024/2025 work programme, following the recent Placing, Subscription and Open Offer. The Presentation will be made available on the Company's website.

As announced on 29 May 2024, the Company has received the remaining approvals necessary from Matad District to allow the 2024 operational programme to commence. Land certificates have been issued for the three areas of operation selected by the Company.

The overall goals of the 2024/2025 work programme are to:

·    Commence production and development of the Heron discovery in Block XX

Heron-1: Re-perforation, stimulation and completion scheduled for July, installation of surface equipment and targeting the well to be put on production in late Q3 2024

Heron-2: Drill & complete in late Q3, installation of equipment and targeting the well to be put on production in Q4 2024

·    Undertake near field low-cost exploration drilling

Planning to drill the high-impact Gobi Bear-1 exploration well in late Q3/early Q4, depending on rig availability

·    Develop renewable energy projects to bankable, ready to build status

Choir 50MW battery energy storage system targeting ready-to-build in early 2025

OT Green Hydrogen, targeting phase 1 onstream in 2025

·    Achieve self-sustainability and deploy oil production revenue on development drilling, near-field exploration, new PSCs and developing renewable energy projects

Targeting the signature of two new PSCs in late 2024/early 2025

Mike Buck, CEO of Petro Matad, said:

"With land access permits in hand and following the recent equity raise we are now gearing up for a busy operational period. Members of the management team look forward to presenting to shareholders on the Investor Meet Company platform and will outline the upcoming work programme including our plans for SunSteppe Renewable Energy and the expected award of two new Production Sharing Contracts."

Further operational updates will be provided in due course.

- Ends -

Further information please contact:

Petro Matad Limited


Mike Buck, CEO

+976 7014 1099 / +976 7575 1099



 

Shore Capital (Nominated Adviser and Broker)

Toby Gibbs

Rachel Goldstein

 

 

+44 (0) 20 7408 4090

Zeus (Joint Broker)

Simon Johnson

Louisa Waddell

 

+44 (0) 20 3829 5000

FTI Consulting (Communications Advisory Firm)


Ben Brewerton

Christopher Laing

 

+44 (0) 20 3727 1000

 

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 100% working interest and the operatorship of two Production Sharing Contracts with the Government of Mongolia. Block XX has an area of 214 square kilometres in the far eastern part of the country and Block V has an area of 7,937 square kilometres in the central western 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 news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCUKSNRSAUBRAR

1 Year Petro Matad Chart

1 Year Petro Matad Chart

1 Month Petro Matad Chart

1 Month Petro Matad Chart

Your Recent History

Delayed Upgrade Clock