Petro Matad Limited
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- Business
- Petro Matad Limited engages in the exploration, development, and production of oil in Mongolia, along with investments in renewable energy projects. The company holds 100% working interest and operatorship in two Production Sharing Contracts with the Mongolian government: Matad Block XX, covering an exploitation area of 214 square kilometers in the far eastern part of Mongolia adjacent to major producing oil fields; and Borzon Block VII, spanning an exploration area of 41,141 square kilometers in southern Mongolia. Its core activities encompass oil production from the Heron-1 discovery well in Block XX, which commenced in October 2024 with average daily output of 200 barrels by year-end; exploration drilling, seismic acquisition, and field studies; and renewable energy development through its SunSteppe Renewable Energy joint venture, which pursues battery storage, green hydrogen, wind projects including exclusive rights to 200MW and 1.5GW initiatives, and electricity export systems. Founded in 2007 and headquartered in Douglas, Isle of Man, with operational offices in Ulaanbaatar, Mongolia, the company targets hydrocarbon basins and emerging renewables markets primarily within Mongolia. Recent developments include the signing of an oil sales agreement with PetroChina in 2025, receipt of first production payments in June 2025, the award and signing of the Borzon Block VII PSC in January 2025, a GBP 2.84 million capital raise via placing and subscription in July 2025 to fund well testing at Heron-2, Gazelle-1, and Gobi Bear-1 alongside renewable advancements, and ongoing efforts to secure farm-in partners for upstream acceleration and Sunsteppe project equity.
Company News
Petro Matad Limited (PRTDF) Discusses Renewable Energy Joint Venture Projects and Strategic Partnership Developments in Mongolia Transcript
Petro Matad shares rise 14% on Saudi renewable energy partnership
Petro Matad shares drop 19% as PetroChina blocks deliveries
Petro Matad production halted in Mongolia amid PetroChina row
Petro Matad expects PetroChina greenlight 'shortly'
Petro Matad expects PetroChina greenlight 'shortly'
AFC Energy shares nudge higher after it wins permit change to speed hydrogen sales
Petro Mata shares up as it banks PetroChina payment
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Anglo Asian eyes "step change" as copper becomes miner's main product this year
Petro Matad falls 11% despite new production from Gazelle well
Petro Matad soars as Gazelle well beats expectations
Petro Matad confirms ‘stable production' from Heron well
Petro Matad brings in $4m in new investment
Petro Matad sees key milestone in Mongolia as it banks first oil payments
Petro Matad shares tumble as it awaits oil payments
Petro Matad rockets as it inks Mongolian oil sales deal
Petro Matad confirms rising inventory as it awaits start of oil sales
Petro Matad shares plummet as Mongolia wells disappoint
Petro Matad shares drop as Velociraptor is a blank