Petro Matad (PRTDF)

[douginil]

Petro Matad (MATD) announced interim results

[[ Thanks to OilmanJim ]]

Posted: 23 Aug 2020 02:00 AM PDT

Petro Matad (MATD) announced interim results. It's still waiting for the Block XX exploitation licence to be approved and it doesn’t sound like that’s going to happen anytime soon. In the meantime, it reported a loss of $2.35 million for the six-month period ended 30 June 2020 and a cash balance at that date of $2.08 million. The company says it is pursuing a number of options to fund the next stage of its activities, but I think a placing is inevitable.