ProactiveInvestors: Petro Matad starts to make significant waves

Mongolia-focused oil explorer Petro Matad delighted its growing fan base with a bullish operations update in March. The firm, run by Australian veteran Doug McGay, announced a meaty upgrade to its own reserve estimates after re-working the data on its core exploration prospect, Block XX, in the far east of the country. Petro Matad shares hit an all-time high on the back of the news, but with the next 12-18 months set to be an exceptionally active time for the company, the hope is that in-fill testing, additional seismic work and more drilling on the huge acreage within its Mongolian licences will identify a major new oil producing area. To read the full article, click herePetro Matad starts to make significant waves

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