Petro Matad says nothing further to update on as stock jumps

AIM-listed exploration company Petro Matad noted the jump in its share price on Thursday and confirmed there was nothing further to update the market on since its statement on Tuesday.

Earlier in the week, Petro said the $5m payment due from Shell following the approval by the Mongolian government of the reassignment of interest in exploration blocks IV and V has not been received yet.

The company said that the Petroleum Authority of Mongolia had proposed a change in wording of the reassignment of the blocks, which caused the delay in the payment.

At 1430 GMT, the shares were up 13.5% to 10.50p.