Petro Matad Ltd. (MATD)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

3.95p
   
  • Change Today:
    -0.010p
  • 52 Week High: 7.10
  • 52 Week Low: 2.60
  • Currency: UK Pounds
  • Shares Issued: 1,113.88m
  • Volume: 2,649,496
  • Market Cap: £44.00m

Petro Matad licence application delayed by Mongolia Covid outbreak

By Josh White

Date: Friday 04 Dec 2020

LONDON (ShareCast) - (Sharecast News) - Mongolian oil company Petro Matad updated the market on its operations and the impact of Covid-19 on Friday, reporting that the country had been "very successful" in containing the coronavirus through 2020, however the first cases of community spread did occur in November.
The AIM-traded firm said the government initially ordered a five-day partial lockdown, but after cases in the community increased, a full lockdown was ordered and was extended until 11 December.

It said the measures imposed by the government included restrictions on all business meetings.

Active cases of Covid-19 in Mongolia currently stood at 445, with around 420 of those due to spread in the community since mid-November.

The number of new cases being reported each day was now decreasing, Petro Matad said, and it was hoped that the government's action would restore stability to the situation.

Looking at its exploitation licence application, Petro Matad previously said it had been waiting for a confirmed date for a meeting with government bodies to review and approve the Heron reserves report as the next step in the process of awarding the Block XX licence.

"The meeting had been scheduled to go ahead in mid-November just as the lockdown was implemented," the board said on Friday.

"This has forced a postponement of the meeting until such time as lockdown restrictions are eased or until the government can organise a virtual meeting of the relevant personnel.

"Petro Matad is ready for the meeting should it be convened virtually during lockdown or as soon thereafter as can be organised."

At 1110 GMT, shares in Petro Matad were down 9.64% at 2.48p.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

MATD Market Data

Currency UK Pounds
Share Price 3.95p
Change Today -0.010p
% Change -0.25 %
52 Week High 7.10
52 Week Low 2.60
Volume 2,649,496
Shares Issued 1,113.88m
Market Cap £44.00m

MATD Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value Not Available
Price Trend
65.49% above the market average65.49% above the market average65.49% above the market average65.49% above the market average65.49% above the market average
82.93% above the sector average82.93% above the sector average82.93% above the sector average82.93% above the sector average82.93% above the sector average
Income Not Available
Growth
60.03% above the market average60.03% above the market average60.03% above the market average60.03% above the market average60.03% above the market average
50.94% above the sector average50.94% above the sector average50.94% above the sector average50.94% above the sector average50.94% above the sector average

MATD Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
15:56 3,638 @ 3.90p
15:55 19,800 @ 3.98p
15:54 2,000 @ 4.00p
15:54 325 @ 4.00p
15:53 90,000 @ 3.91p

MATD Key Personnel

CEO Mike Buck

Top of Page