<< Back to Research archive

Published on: July 10, 2023

Block XX land access granted

Petro Matad has announced that the Cabinet of the Mongolian Government has approved the certification of the Block XX Exploitation Area as special purpose land. This is good news as it should allow the company to move ahead with the completion of the Heron-1 well as an oil producer and start generating cash flow. The company has also announced that its Velociraptor exploration well found water rather than oil. Although this is disappointing, it was a high-risk well, and in our view is outweighed by the positive news that Petro Matad can now start to plan the Heron development.

Related Content