12th Jan 2017 14:08
LONDON (Alliance News) - Petro Matad Ltd on Thursday noted the move in its share price and said there is nothing further to update on since it last released a statement on Tuesday.
Shares in the firm were up 22% to 11.25 pence on Thursday afternoon.
On Tuesday, Petro Matad said it has still not received the USD5.0 million it is owed by oil major Royal Dutch Shell PLC for the transfer of two oil and gas blocks in Mongolia.
Petro Matad said the Petroleum Authority of Mongolia proposed a change in wording of the reassignment of the blocks, which has caused a delay in Shell making the final payment.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2017 Alliance News Limited. All Rights Reserved.
Related Shares:
RDSA.LRDSB.LPetro Matad