Petro Matad Reports Promising Heron-1 Oil Production

Petro Matad (GB:MATD) has released an update.

Petro Matad Limited reports promising developments in Mongolia’s Heron-1 well, achieving flow rates similar to its 2019 peak, despite pressure variations due to higher-than-expected gas content. While Heron-2 shows lower productivity, Heron-1’s output is being transported for storage and future export to China, with commercial agreements nearing completion. The company is optimistic about enhancing production rates and finalizing sales of Block XX crude.

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