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Petro Matad ( (GB:MATD) ) just unveiled an announcement.
Petro Matad Limited has announced a successful operational update, highlighting the Gazelle-1 well test which exceeded expectations with a flow rate of up to 460 barrels of oil per day. The company is prioritizing the completion and production start-up of Gazelle-1, with production expected to begin by the end of October. Additionally, the Heron-2 well has commenced pumping, and the Heron-1 electrification project has been completed, reducing operating costs and emissions. The company plans to test the Gobi Bear-1 well in April 2026 due to time constraints.
More about Petro Matad
Petro Matad Limited is a Mongolian oil company listed on the AIM market. It focuses on oil exploration and production, primarily operating in Mongolia with a market focus on expanding its production capabilities.
Average Trading Volume: 10,372,469
Technical Sentiment Signal: Sell
Current Market Cap: £14.5M
For detailed information about MATD stock, go to TipRanks’ Stock Analysis page.