RE: Rns any day18 Feb 2025 19:37
Interesting.....
1/4 MATD disclosed in its January 16 RNS that the cooperation agreement with the Block XIX operator was expected to be signed in February. However, today is already February 17, and the agreement has yet to be finalized.
2/4 I suspect that the delay may be due to the reservoir sand content in the oil produced by MATD, which could be a concern for the Block XIX operator and may ultimately prevent them from signing the agreement with MATD.
3/4 Currently, MATD has already stored 15,750 barrels of oil containing reservoir sand at the TA-1 facility in Block XIX. Without the cooperation agreement, this oil cannot be transported to PetroChinaβs refinery for processing, meaning no revenue can be generated
4/4 At the same time, MATD would still be required to pay rental fees to the Block XIX operator for using the TA-1 facility.
Given this situation, MATDβs share price is expected to continue declining.