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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: 2.90
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Petro Matad publishes operational update for Mongolian mines

Thu, 20th Dec 2012 10:37

AIM-listed mining company Petro Matad has published an operational update on three PSC licenses that it holds in Mongolia.Hydrocarbon generating potentialThe company reported that nine major sub-basins had been identified in areas defined as "Blocks IV" and "Block V" and further high-graded for their exploration potential in the same blocks.Conventional parameters for calculating the possible amount of hydrocarbon generation, only from the syn-rift source rocks that could have taken place and been trapped, indicated the possibility of more than a billion barrel oil in place potential in the frontier area, Petro Matad reported.From scout data, Petro Matad reported that it understood that Daqing - a subsidiary of Petro China- had recently drilled two new wells very close to the Block XX boundary, both of which had been brought into production.One was 400 metres from the boundary between Blocks XIX and XX and Petro Matad stated that this well had possibly drilled a structure interpreted as continuing into Block XX.Inadequate seismic coverageThe company stated: "This well has possibly drilled a structure interpreted as continuing into Block XX. Unfortunately we cannot confirm this mapping unequivocally because of inadequate seismic coverage. We may need to conduct a 3D seismic survey to de-risk the interpretation of the area prior to any drilling."The company added that the current Petroleum Law in Mongolia contained no provision for the unitisation across block boundaries.Oil shaleA major oil shale deposit was also recognised in Block IV, the company reported, but added that "the technology for economic development of such resources is unproven at present". The company's strategy is to maintain ownership of the resource at minimal cost while monitoring technology developments elsewhere.Petro Matad's share price was down 9.09% to 6.25p at 11:24 on Thursday morning.MF
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20 Sep 2018 12:57

UPDATE: Petro Matad Plunges As It Fails To Find Oil At Snow Leopard

LONDON (Alliance News) - Shares in Petro Matad Ltd fell on Thursday after the oil explorer said it did not find oil or gas accumulations at its Snow Leopard 1 Well, located in were trading down at

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20 Sep 2018 10:59

Petro Matad Plunges As It Fails To Find Oil At Snow Leopard Well

LONDON (Alliance News) - Shares in Petro Matad Ltd fell on Thursday after the oil explorer said it did not find oil or gas accumulations at its Snow Leopard 1 Well, located in were trading down at

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20 Sep 2018 10:30

WINNERS & LOSERS SUMMARY: Rio Tinto Up On Plan To Return Sale Proceeds

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Thursday.----------FTSE 100 - WINNERS----------Rio up 1.9%.

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7 Sep 2018 10:41

Petro Matad losses widen as it cashes up for planned operations

(Sharecast News) - Mongolian oil explorer Petro Matad released its unaudited interim results for the six months ended 30 June on Friday, reporting a loss of $6.65m, widening from $2.52m for the comparable period last year.

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7 Sep 2018 10:15

Petro Matad Loss Widens, Contractor Issues Delay Block XX Drilling

LONDON (Alliance News) - Mongolia-focused oil explorer Petro Matad on Friday said its loss widened in the fist half of the year on a range of increased expenses.The company's USD6.7 was

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24 Jul 2018 12:44

Petro Matad Non-Executive Director Oyungerel Janchiv Steps Down

LONDON (Alliance News) - Petro Matad Ltd on Tuesday said Non-Executive Director Oyungerel Janchiv intends to retire after the annual general meeting scheduled on September 20 to spend more time in

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14 Jun 2018 11:32

Petro Matad Successfully Raises Cash To Fund Mongolian Drilling (ALLISS)

LONDON (Alliance News) - Mongolian oil explorer Petro Matad Ltd on Thursday said it has completed its previously announced share placing, which it said was "significantly" company had on

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13 Jun 2018 17:16

Petro Matad To Raise Gross USD18.3 Million To Fund New Wells (ALLISS)

LONDON (Alliance News) - Petro Matad Ltd said Wednesday it aims to raise USD18.3 million through shares placing and a subscription.Net proceeds from the an accelerated bookbuild are to be a

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4 Jun 2018 11:09

Petro Matad Loss Narrows Despite Delaying First Drilling Operation

LONDON (Alliance News) - Petro Matad Ltd said Monday its 2017 loss narrowed despite the company failing to complete its first drilling operation in six years.The Mongolian oil explorer loss

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14 May 2018 11:59

Petro Matad Starts Mobilisation For Snow Leopard Drilling Amid Delays

LONDON (Alliance News) - Petro Matad Ltd said Monday it is close to securing permits for the Wild Horse 1 well, while the Snow Leopard 1 well spudding experienced delays.The Wild Horse 1 1

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20 Mar 2018 17:29

Petro Matad drills into Mongolia - last frontier for onshore oil

* Same geology as prolific oil basins in China * Mongolia will need crude for planned refinery By Barbara March 20 (Reuters) - Petro Matad a

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27 Jan 2017 16:10

Petro Matad issues drilling rig tender

(ShareCast News) - Petro Matad updated the market on Friday, announcing that it has issued a tender for a drilling rig and related services, in preparation for its drilling programme in Blocks IV and V, which is expected to commence in mid-2017. The AIM-traded firm said that in 2016, it pre-qualifie

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18 Jan 2017 09:49

Petro Matad Expects Shell Payment Within Next 10 Days

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12 Jan 2017 14:31

Petro Matad says nothing further to update on as stock jumps

(ShareCast News) - AIM-listed exploration company Petro Matad noted the jump in its share price on Thursday and confirmed there was nothing further to update the market on since its statement on Tuesday. Earlier in the week, Petro said the $5m payment due from Shell following the approval by the Mon

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12 Jan 2017 14:08

Petro Matad Notes Share Price Move, Says No Further Update

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