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Petro Matad Ltd (MATD.L)

MATD.L on London Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Petro Matad says receives $10 mln exit payment from Shell unit
Thursday, 11 Aug 2016 07:43am EDT 

Petro Matad Ltd : Confirms that $10 mln exit payment stipulated by farmout agreement with Shell unit has now been received by company .Upon completion of reassignment a further $5 mln payment is due from Shell.  Full Article

Petro Matad, Shell affiliate end production sharing contract
Friday, 5 Aug 2016 04:30am EDT 

Petro Matad Ltd : That agreement has been reached by parties in relation to BGMH's exit from Block IV and V production sharing contracts . Under terms of agreement, Shell's affiliate will pay an exit amount of $10,005,303 . Under term under terms of agreement, Shell's affiliate will pay a further $5 mln upon completion of reassignment .Says reassignment of BGMH's 78 pct working interest back to CapCorp is subject to government consent.  Full Article

Petro Matad Ltd says contract award for 2D Seismic
Thursday, 13 Aug 2015 03:22am EDT 

Petro Matad Ltd:Award contract to Khet Co., for acquisition of circa 2000 kilometres of 2D seismic in Blocks IV and V.Says programme will commence in mid-Sept. 2015 after mobilisation of equipment and personnel to site has been completed.2D seismic program has been designed to achieve three main objectives.First, to infill the existing reconnaissance level and basin definition seismic grids to improve correlation and understanding of structural and stratigraphic architecture of the petroleum basin systems.Second, to tighten line spacing across previously identified lead and prospect trends such that drillable prospects may be adequately mapped.Third, to expand reconnaissance level and basin definition coverage into un-imaged parts of the basin to identify new lead areas, play concepts and improve resource estimations across a greater basin area.  Full Article

Petro Matad Ltd announces management changes
Friday, 17 Jul 2015 02:00am EDT 

Petro Matad Ltd:Appoints Enkhmaa Davaanyam as Non-Executive, non-independent Chairperson effective Aug. 1.Appoints Ridvan Karpuz as Chief Executive Officer effective mid-September.Says Oyungerel Janchiv relinquishes her Acting Chairperson position, but remains on the Board as a Non-Executive Director.  Full Article

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