Petro Matad (PRTDF)

[douginil]

Thanks to Oilman Jim 3/29/20

Petro Matad (MATD) announced an operational update. They’re progressing the Block XX exploitation licence application and a new CPR increases the total mean un-risked in-place oil resource potential of the Heron structure by 20% to 194 million barrels. Reservoir stimulation studies indicate significant improvements in the recovery factor are possible and the Heron development base case has increased to 33 million barrels recoverable. Challenge is whether they will actually be able to get any further work done this year with the current Coronavirus situation.