Petro Matad Limited (LSE:MATD) has announced consistent oil production from its Heron-1 well, which is currently yielding between 150 and 160 barrels per day. While the company works through ongoing payment delays with PetroChina, it is preparing for a more active operational year in 2025. The upcoming work program is designed to streamline operations, cut costs, and boost output.
Beyond its oil operations, Petro Matad is making strategic progress in its renewable energy initiatives, which the company sees as holding substantial long-term value. As part of its broader growth strategy, Petro Matad is also actively seeking partners to support both its conventional oil and future exploration activities.
Company Profile: Petro Matad Limited
Headquartered in Mongolia and listed on London’s AIM market, Petro Matad is engaged in oil exploration and production. While its core business remains petroleum, the company is increasingly expanding into renewable energy, signaling a diversified approach to future energy development.
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