Published on: September 22, 2022
Petro Matad, the Mongolia-based E&P company, has this morning released its interim results for the six months ending 30 June 2022. The financials would appear to be in line with market expectations. On the operating side, management has made some progress, although this has again been slowed by the impact of China’s Covid lockdowns, as was mentioned in the company’s previous trading update in May. Despite this, management has been working on the Heron-1 well; once the Covid restrictions are resolved, this will enable Petro Matad to move ahead swiftly with completing the well as an oil producer.