Petro Matad: Progressive
Preparations for production gather pace
has issued an operational update this morning. The Heron-1 well has been re-entered and management is looking to put in the required production equipment. PetroChina, in the neighbouring licence, is providing oil storage tanks for the production. Petro Matad is also looking at mobilising rigs to start drilling the Heron-2 well and Gobi Bear exploration well. This is exciting news. After many delays, the group is about to start production, which will provide cash flow and accelerate the growth of shareholder value.
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