Petro Matad: How Heron-1 is performing and key milestones achieved

Petro Matad (AIM: MATD) is focused on oil exploration, development and production in Mongolia. It holds a 100% working interest and the operatorship of the Matad Block XX Production Sharing Contract with the government of Mongolia. Block XX has an area of 214 square kilometres in the far eastern part of the country.

Mike Buck, CEO discusses the milestones made this year including the start of oil production from the company’s Heron-1 discovery well in addition to the spudding of both the Heron-2 development well and the Gobi Bear-1 exploration well.

In this interview investors will learn:

Why the company describes 2024 as a year of two halves and what the priorities are for the year ahead.

How Heron-1 is performing now it’s producing oil, and what the benefits of gas in the well may provide to the company.

How confident Petro Matad is about securing the cooperation agreement necessary for the sale of Heron-1’s product.

What the plans are for the currently suspended Heron-2 appraisal well.

When the company’s SunSteppe Renewable Energy joint venture will progress potential battery storage and green hydrogen projects.

Mike Buck, CEO of Petro Matad, was interviewed by Sarah Lowther for focusIR.

#MATD #Mongolia #OilandGas