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Pin to quick picksPetro Matad Share News (MATD)

Share Price Information for Petro Matad (MATD)

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Share Price: 3.15
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Ask: 3.20
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AIM WINNERS & LOSERS: Helium One surges on rig purchase for Rukwa

Mon, 10th Jul 2023 10:26

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.

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AIM - WINNERS

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Helium One Global Ltd, up 43% at 7.28 pence, 12-month range 4.32p-9.3p. The Tanzania-focused helium explorer acquires an Epiroc Predator 220 drilling rig for use at its Rukwa project. Will use the rig to drill the Tai-C well in the third quarter of 2023, and is targeting a spud date in September. Says ownership of the rig means it can quickly move to the appraisal phase after drilling Tai-C, enabling accelerated exploration at its Rukwa, Eyasi and Balangida projects. Doesn't name the seller of the rig, nor say how much it paid for it. On Friday, the firm had issued its drilling contractor with a rectification notice, amid continuing concerns about the lack of operational and contractual progress regarding its letter of intent. It had said it was reviewing and progressing a number of "alternative options".

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Knights Group Holdings PLC, up 6.0% at 67.64p, 12-month range 60.45p-142p. The legal and professional services firm posts double digit annual growth, alongside a cheery outlook. For the financial year ended April 30, pretax rises 19% year-on-year to GBP21.6 million from GBP1.1 million, while revenue rises 13% to GBP142.1 million from GBP125.6 million. While revenue growth is largely the result of recent acquisitions, the firm expects a return to organic growth in financial 2024. Cites a strong start to the year, despite ongoing macroeconomic uncertainty. "We remain confident in our strategy and our ability to deliver profitable, cash generative growth," says CEO David Beech.

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AIM - LOSERS

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Totally PLC, down 22% at 13.2p, 12-month range 12.2p-48p. The frontline healthcare services provider reports annual results for the financial year ended March 31, guiding for a weaker revenue performance in the year ahead. Revenue rises 6.5% year-on-year to GBP135.7 million from GBP127.4 million, while pretax profit jumps 42% to GBP1.8 million from GBP1.2 million. It proposes a final dividend of 0.125 pence, bringing the annual total to 0.625p, down from 1.00p a year before. However, expects revenue in the current financial year to be lower, with earnings before interest, tax, depreciation and amortisation to be "marginally below" the previous year. This reflects "increasingly challenging operating conditions", as well as "improved margins driven by higher volumes in elective care". "The board are confident that the actions and strategy put in place over the past 12 months will ensure the company remains in a strong position to continue to grow significantly over the coming years," it says.

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Petro Matad Ltd, down 15% at 4.13p, 12-month range 1.6p-7.1p. The Douglas, Isle of Man-based petroleum exploration company says the Velociraptor-1 exploration well in the Taats Basin of Block V located in central Mongolia reached a total depth of 1,500 metres with wireline logging completed. However, all the reservoirs encountered were water bearing, the company says. The well will now be plugged and abandoned. The results are "obviously disappointing", says CEO Mike Buck, but "such high impact targets, drillable at modest well cost cannot be ignored when exploring frontier area".

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By Elizabeth Winter, Alliance News senior markets reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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19 Jul 2019 12:09

Petro Matad Spuds Heron-1 Oil Exploration Well In Tamsag Basin

(Alliance News) - Mongolian oil explorer Petro Matad Ltd said Friday its has spud the Heron-1 exploration well in the Tamsag basin of block XX.The well is an appraisal of the T19-46 oil to

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26 Jun 2019 15:00

Petro Matad makes solid progress with planned drilling programme

(Sharecast News) - Mongolia-focussed oil explorer Petro Matad updated the market on its progress towards its planned drilling programme in 2019, and its application for PSC extensions for Blocks IV and V on Wednesday.

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26 Jun 2019 14:33

Petro Matad On Course To Spud Heron 1 Well At Block XX In July

(Alliance News) - Petro Matad Ltd on Wednesday said the drill sites for its three block XX wells in Mongolia are complete and the company is set to spud Heron 1 in July.The sites for the -

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17 Jun 2019 10:50

Petro Matad Annual Loss Widens On Block IV And V Evaluation Expense

(Alliance News) - Petro Matad Ltd on Monday said its loss widened significantly in 2018 largely due to more than doubling of exploration and evaluation expenditure on blocks IV and V in in the oil

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17 Jun 2019 08:05

Petro Matad's loss almost doubles on higher exploration costs

(Sharecast News) - Mongolia-focused oil explorer Petro Matad on Monday reported that its annual loss almost doubled, though the drilling of two exploration wells was completed on schedule and within budget.

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28 May 2019 12:16

Petro Matad Close To Beginning Drilling Work In Mongolia

LONDON (Alliance News) - Mongolian oil firm Petro Matad Ltd on Tuesday said work on Block XX in the country is progressing well.Petro Matad has started well site construction at Heron 1, to

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16 Apr 2019 15:41

Petro Matad signs contracts for two rigs ahead of drilling programme

(Sharecast News) - Mongolia-focussed oil explorer Petro Matad has signed contracts for two rigs for its upcoming 2019 four-well drilling programme, it announced on Tuesday.

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16 Apr 2019 12:28

Petro Matad Delays Start Of Drilling At Eastern Mongolian Prospects

LONDON (Alliance News) - Mongolian oil firm Petro Matad Ltd on Tuesday said it has postponed the spud date for the first well of its upcoming drilling programme.Petro Matad will spud Heron

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7 Mar 2019 15:00

Petro Matad plans four-well drilling campaign for 2019

(Sharecast News) - Mongolia-focussed oil explorer Petro Matad updated the market on its operations on Thursday, reporting that it was pursuing a four-well drilling campaign in 2019 at Heron, Gazelle and Red Deer on block XX, and either a further exploration well at block V or an appraisal of a block XX discovery.

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7 Mar 2019 12:52

Seismic Reprocessing Boosts Petro Matad's Heron Prospect Resource

LONDON (Alliance News) - Petro Matad Ltd on Thursday said seismic reprocessing at Block XX has raised its Heron prospect resource by more than 50% and indicates that Heron is the extension of a in

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10 Jan 2019 14:12

Petro Matad Keen To Start Block XX Operations, Block V Tests Promising

LONDON (Alliance News) - Petro Matad Ltd on Thursday said it is continuing preparations for a four-well drill programme at Block XX in Mongolia and noted that findings from its Block V drilling in

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26 Nov 2018 10:36

Petro Matad Shares Drop On Disappointing Baatsagaan Drilling Results

LONDON (Alliance News) - Petro Matad Ltd on Monday said no oil shows were observed in the Wild Horse 1 well, located in block IV of the Baatsagaan basin, southern Mongolia.Petro Matad were

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26 Nov 2018 09:49

Petro Matad tumbles after Wild Horse proves dry

(Sharecast News) - Mongolia-focussed oil and gas outfit Petro Matad plummeted on Monday after its Wild Horse well failed to find hydrocarbons.

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23 Oct 2018 10:29

Petro Matad Spuds Wild Horse-1 Well, Targets Mongolian Oil Resource

LONDON (Alliance News) - Mongolian oil explorer Petro Matad Ltd said on Tuesday it has spud the Wild Horse-1 exploration well in the Baatsagaan Basin in Block IV, western Mongolia.The total

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1 Oct 2018 12:32

Petro Matad Says Operations At Wild Horse Remain On Track

LONDON (Alliance News) - Mongolia focused Petro Matad Ltd said Monday its operations at its "very exciting" prospect Wild Horse-1 continue to progress on track.Shares in Petro up

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