RE: Heron2 or Farm-out which comes first13 Oct 2025 09:14
Matad is at the mercy of Petro China, their next door neighbour, Petro China are TEMPORARILY lending them the storage facility, but it comes at a cost for them to withheld 30% of all revenue from the Heron field. The tax issue with the Mongolian Government remains unresolved and MB does not dare challenge Petro China because they are reliant on them for the storage and logistics.
You would have thought they done better with £190millions at their disposal.
Imho and DYOR