Petro Matad (PRTDF)

[douginil]

Petro Matad

[[ Thanks to Oilman Jim ]]

July 18, 2021

Petro Matad (AIM MATD OTC PRTDF) announced it has raised approximately $10.4 million at 3.5p per share via a placing and retail offer. It also intends to raise up to approximately $2 million through an open offer. Stated use of the funds is to allow MATD to commence production from the Heron Field, with the completion of the Heron-1 well plus the drilling of the Heron-2 and Heron-3 wells. It has to be said that the level of the placing price surprised many (the share price was as high as 9p the previous week) and it appears to some that a large number of placing shares may have been pre-sold.

Read at:
https://oilmanjim.blogspot.com/2021/07/panr-pthrf-i3e-ite-senx-sen-snuyf-matd.html

Twitter @Oilman_Jim