Appointment of Exploration Manager

RNS Number : 4021J

Petro Matad Limited

07 August 2012

 



Petro Matad Limited

("Petro Matad" or the "Company")

Appointment of Exploration Manager

Petro Matad, the oil exploration company with a portfolio of assets in Mongolian, is pleased to announce the appointment of Dr. Ridvan Karpuz in the position of Exploration Manager. He will take up the role immediately.  Dr. Karpuz will reside in Mongolia and operate from the Company's office in Ulaanbaatar.  

Dr. Karpuz joins Petro Matad from Austrian listed integrated oil and gas company OMV where he has spent the last four years as an Exploration and Reservoir Manager working in Iran, Yemen and more recently Tunisia.  He has 23 years' work experience in oil and gas exploration and production and a proven track record of significant oil discoveries.  Dr. Karpuz has substantial experience establishing and operating subsurface exploration teams and of  delivering 'fast-track' exploration to production programmes.  His E&P experience has been obtained in remote and logistically demanding locations and in globally significant hydrocarbon provinces such as the Middle East, North Sea, Barents Sea, Norwegian Sea, North Atlantic, and North Africa. Prior to his role with OMV, Dr. Karpuz worked with Endeavour Energy and Norsk Hydro in similar senior exploration roles.

CEO Douglas McGay said: "We are extremely pleased to welcome Dr. Karpuz as Petro Matad's new Exploration Manager.  His appointment is a further milestone in the Company's renewal programme.  Dr. Karpuz's expertise, successful international experiences in isolated and demanding locations, knowledge and proven track record in finding and developing oil fields are highly significant to Petro Matad.  His proven leadership record in commercial oil exploration and commitment to residency in Mongolia will enhance our exploration programmes."

About Petro Matad Limited

Petro Matad is the parent company of a group focussed on oil exploration, as well as future development and production, in Mongolia.  The Group holds sole operatorship of three Production Sharing Contracts with the Government of Mongolia.  Block XX has an area of 10,340km² in the far eastern part of the country.  Blocks IV and V are located in central Mongolia.  Block IV covers approximately 29,000km² and Block V approximately 21,150km².

Petro Matad Limited is incorporated in the Isle of Man under company number 1483V.  Its registered office is at Victory House, Prospect Hill, Douglas, Isle of Man, IM1 1EQ.

Further information:

Petro Matad Limited

Douglas J. McGay - CEO 

[phone]

NOMAD and Joint Broker

Westhouse Securities Limited

Richard Baty / Petre Norton

[phone]

Joint Broker

Macquarie Capital (Europe) Limited

Jeffrey Auld / Steve Baldwin / Nicholas Harland

[phone]

Media

RLM Finsbury

James Leviton / Humza Vanderman

[phone]

 

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