Petro Matad (PRTDF)

[douginil]

Petro Matad

Aug 5, 2021

[[ Thanks to Malcy's Blog ]]


Petro Matad has announced that the Open Offer raised $76,000 and dealings commence tomorrow.

At the EGM to be held today, Mike Buck, the Company’s CEO, will make the following EGM statement:

“We are pleased to have completed a capital raise swiftly following the award of the Exploitation Licence for the Heron discovery. This allows us to secure long lead time items in anticipation of commencing oil production as soon as next year, and strategically puts us in control of our goal to deliver transformational value to all stakeholders through production and low-cost exploration.

While we have much to achieve, we start the next chapter of the Company’s development from a position of strength and independence. As Mongolia’s leading exploration company with proven operatorship capability, we are well capitalised for the next phase of activity. In addition, we continue to hold an excellent relationship with the Mongolian government, which is committed to developing the country’s upstream oil industry, building a domestic oil refinery and enhancing the country’s energy independence.


Read at:
https://www.malcysblog.com/2021/08/oil-price-dec-petro-matad-sdx-and-finally/