Very very Upbeat from Malcy ✅✅✅19 Feb 2026 06:57
Quite a few ticks in boxes today for Petro Matad headed by the fact that PetroChina has settled its overdue bill of $1.03m. Another smaller tick is the GSA being ‘nearly finalised’ hopefully this not yet being signed up won’t mean delays in future payments.
With XX production being ‘in line with expectations’ at 161 b/d is another tick although overall levels of production is quite modest and the farm-out discussions with a counter party are ‘nearing completion’ which must be tick worthy otherwise they wouldn’t be allowed to say it…
I have to admit that I don’t quite get the renewables project yet, for a discussion with Mike Buck when he is next in London but it does seem like quite a big ‘portfolio of projects’ as they call it and it looks potentially a bigger play than the conventional hydrocarbon one.
The market likes all this, the shares are up 17% today and nearly 50% over six months so the ticks are clearly good enough, all being well Matad may be turning the corner…