Petro Matad (PRTDF)

[Tamtam]

The official Covid-19 risk level in Ulaanbaatar was reduced on 23 February and 95% of businesses were permitted to re-open. As part of the plans for the economic revival, the government has said it does not intend to impose any more widespread lockdowns unless the spread of the virus spikes unexpectedly.

The restrictions and lockdowns since November 2020 have had an impact on Petro Matad's Block XX Exploitation Licence application process with government offices being shut. However, ministry and regulator employees have been working remotely and the Company has worked collaboratively with government to ensure that progress has been made during this period. With the lifting of restrictions on 23 February, Petro Matad is hoping to pick up the pace in the process to secure the Block XX Exploitation Licence.