Petro Matad Ltd Declares Interim Results For Six Months Ended 30 June 2019

For the six months ended 30 June 2019, there was a loss of US$ 4.41 million compared to loss of $6.65 million in the comparable prior-year period. In terms of operational updates, The Heron 1 well in the Tamsag Basin in Block XX spudded with the DQE International 40105 rig on 19 July 2019, while the Red Deer 1 exploration well in the Asgat Sag Basin of Block XX spudded on 4 August 2019.

The Company’s cash balance at 30 June 2019 was $16.12 million compared to $15.55 million as on 30 June 2018.

On 3rd September 2019, at the time of writing, GMT 10:49 AM, MATD shares were quoted at GBX 7.62, up 1.0 point or 15.09% over the previous day closing price.