IN BRIEF: Petro Matad awarded Mongolia exploitation license

Wed, 07th Jul 2021 21:58

Petro Matad Ltd - Mongolia-based oil exploration company - Announces the State of Mongolia is awarding it the exploitation license to commence mining in Block XX, which has a potential 194 million barrels of oil.

The company is preparing to open the Heron 1 well in Block XX and begin a "very active programme" in in 2022.

Current stock price: 7.50 pence, up 17% on Wednesday

Year-to-date change: up 79%

By Aidan Lane; newsroom@alliancenews.com

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