Banks take a hit as the FTSE100 suffers a drop of almost five per cent. But small cap indices suggest that junior companies are proving more resilient in the latest round of panic
Petro Matad is the parent company of a group focused on oil exploration, as well as future development and production in Mongolia. The Group’s principal asset is the Production Sharing Contract (PSC) over Matad Block XX, a petroleum block with an area of 14,250km2 in the far eastern part of Mongolia, near the Chinese border. Recently the company signed two more Production Sharing Contracts on Bogd Block IV and Ongi Block V, a total of approximately 71,000km² in central Mongolia. Petro Matad Limited’s shares were admitted to trading on AIM, London Stock Exchange, on May 1st, 2008. The company’s largest shareholder is Petrovis LLC, the largest importer and distributor of petroleum products in Mongolia. The company is the first substantially Mongolian owned company to have its shares admitted to trading on any major international stock exchange.
22/09/11
Banks take a hit as the FTSE100 suffers a drop of almost five per cent. But small cap indices suggest that junior companies are proving more resilient in the latest round of panic
07/06/11
With a promising exploration programme underway and a highly able management team in place, things are looking up for oil group Petro Matad, analysts believe.
12/04/11
The shares hit an all-time high recently, so we take a closer look at a company which has delighted its growing fan base with a bullish operations update.
01/11/10
Whilst Petro Matad has found oil in its third exploration well, the result did not confirm hydrocarbon continuity between the previous two discoveries. With the Mongolian winter looming on the horizon the company has now called an end to the successful 2010 exploration program.
27/01/10
Doug McGay, CEO of Petro Matad, talks about a 14,000 square kilometre
production sharing contract adjacent to producing oilfields (100
kilometres from China) a prospective resource of 147 million barrels on
the most prospective area, two more exploration blocks covering 73,000
square kilometres, and a drilling programme ready to go in Spring.
18/12/09
Petro Matad announced that the European Bank of Reconstruction and Development has subscribed for shares in the company, taking a 17.5% stake.
02/12/09
Petro Matad has the advantage of being right next door to China – and the petroleum industry in Mongolia is being driven hard by the needs of its neighbour.