Petro Matad Limited (AIM: MATD), the AIM quoted Mongolian oil company, has successfully raised US$10.4m through an oversubscribed placing, subscription and retail offer with Shore Capital acting as Broker and Joint Bookrunner. Petro Matad also intends to raise up to approximately US$2m through an open offer.

Funds raised will go towards commencement of Petro Matad’s production from the Heron Field in Mongolia, with the completion of the Heron 1 well and the drilling of the H2 and H3 wells. As of 7 July 2021, the Company has been granted a fully approved Exploitation Licence for development of the Company’s 100% owned Block XX.

For further information please contact:   

Shore Capital +44 (0) 20 7408 4090

Corporate Advisory: Toby Gibbs / John More / Liam Zabludowicz

Sales and Corporate Broking: Jerry Keen

Research: Craig Howie

 For Shore Capital media enquiries, please contact:   

Adele Gilbert: +44 (0)74 8477 8331

Note to editor

About Shore Capital

We are an independent securities business offering institutional and corporate clients leading investment banking, research, sales and trading services, including fixed income.  We are represented across the UK enabling extensive distribution and institutional coverage. This distribution capability is complemented by our experienced corporate advisory and broking team who offer discreet, innovative and valued advice to companies on both the Main Market and AIM.  Shore Capital is also the 3rd largest market maker by number of AIM stocks covered.

Our cross-disciplinary team has deep, market leading experience in a wide range of small and mid-cap UK companies within the following sectors: Consumer, Financials, Healthcare, Insurance, Natural Resources, Real Estate, Support Services, Technology and Media. Our research on over 250 companies is distributed to an extensive institutional client base in the UK, Europe and US.

Shore Capital is a trading name of both Shore Capital Stockbrokers Limited and Shore Capital and Corporate Limited.