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Petro Matad Ltd - petroleum exploration, development and production company focused on projects in Mongolia - Says the Block XX exploitation area, which contains its producing Heron oilfield, has been confirmed as state special purpose land. The Minister of Industry & Mineral Resources secured the signature from the Provincial Governor on the tripartite agreement. The certificate was issued by the Central Land Agency. The status means it is now the responsibility of the Ministry of Industry & Mineral Resources to secure all land access required for operations within the area. Chief Executive Officer Mike Buck says: ‘We are very grateful to the Minister for his decisive action. Whilst we were able to get approvals for land use at the district level in 2024 and recently also for 2025, the newly confirmed categorisation of Block XX will streamline the land use process in future.’ Current stock price: 1.26 pence, up 0.9% in London on Friday 12-month change: down 64% Copyright 2025 Alliance News Ltd. All Rights Reserved.
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