Petro Matad (GB:MATD) has released an update.
Petro Matad Limited, the Mongolian oil explorer listed on AIM, is set to advance its operational program after securing necessary approvals, targeting production and development of the Heron discovery in late 2024. With a recent equity raise and land access permits acquired, CEO Mike Buck announced an ambitious work program that includes drilling, renewable energy projects, and the pursuit of new Production Sharing Contracts. Shareholders can expect further details on these initiatives during an Investor Presentation, with updates on development drilling and renewable energy projects to follow.
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