Mongolian oil explorer Petro Matad updated the market on its planned 2018 exploration drilling programme on Monday, confirming that environmental permitting for Snow Leopard 1 was now complete.
Mongolian oil explorer Petro Matad will abandon drilling on its Falcon prospect after data implied a smaller resource than management had anticipated.
Mongolian oil explorer Petro Matad updated the market on its operations as part of its planned 2018 work programme on Tuesday, with the company having completed a $16.8m fundraising to execute a four well drilling programme on its acreage during the 2018 year.
AIM-listed Mongolian oil explorer Petro Matad has raised $16m through the placing of around 59.2m shares at 6.5p each.
Petro Matad, the AIM-quoted Mongolian oil explorer, on Friday said its Block XX production sharing contract had been formally extended by the Mineral Resource and Petroleum Authority of Mongolia for another two years, to July 4 2020.
Mongolia-focussed oil explorer Petro Matad announced on Friday that its amended and restated share purchase and convertible securities deed between itself and Bergen Global Opportunity Fund, dated 14 August, has been terminated by the parties by mutual consent.
Mongolia-focussed oil explorer Petro Matad has successfully concluded negotiations with Sinopec on a contract amendment for use of its drilling rig in the 2018 drilling campaign, it announced on Tuesday.
AIM-listed Petro Matad has appointed Michael Buck as its new chief executive officer.
Oil explorer Petro Matad announced on Wednesday that it had signed up a contractor to begin a large-scale 3D and 2D seismic survey of Mogolia's Tugrug Basin before the end of October.
AIM-listed Mongolian oil explorer Petro Matad said on Friday that it swung to a loss in the six months to the end of June.
Petro Matad, a company focused on oil exploration and the first Mongolian-owned firm to be listed on AIM, reported an improved cash position and that it had secured future financing.
Petro Matad's shares fell more than 10% after Bergen Global Opportunity Fund agreed to provide $20m-$45m of funding, which would secure the company's firm work programme for its 100%-owned Block IV and V production sharing contracts in Mongolia for 2017 and 2018.
Petro Matad updated the market on Friday, announcing that it has issued a tender for a drilling rig and related services, in preparation for its drilling programme in Blocks IV and V, which is expected to commence in mid-2017.
AIM-listed exploration company Petro Matad noted the jump in its share price on Thursday and confirmed there was nothing further to update the market on since its statement on Tuesday.
The Mongolian government has approved the reassignment of interests in two oil blocks worth about $15m from Royal Dutch Shell to Petro Matad.
Petro Matad was forced to issue an update on Friday, as its share price plunged more than17%.
Shares in Petro Matad soared on Wednesday as the oil explorer said it had tapped into a large oil field in Mongolia, which contains between nine and 23bn barrels of oil.
Mongolian oil explorer Petro Matad reported that the farm-out exit fee received from Royal Dutch Shell's affiliate contributed to the company's interim half year profit.
Petroleum explorer Petro Matad's reached a $10m settlement with Shell's affiliate BG Mongolian Holdings (BGMH).
Petro Matad revealed it had lost its partner in the Block IV and V production sharing contracts in west and central Mongolia on Friday.