Attendance at NAPE and change to Adviser's role

RNS Number : 3018Z

Petro Matad Limited

05 February 2014

 



Petro Matad Limited ("Petro Matad" or the "Company")

Presentation at the North American Prospect Expo ("NAPE") and change to Adviser's role

Petro Matad is pleased to announce that the Company will this week be attending and participating in the 2014 Winter NAPE Expo, being held in Houston, Texas.  Justin Tully, a Geologist with Petro Matad, will be presenting an update on the Company's portfolio of exploration assets in Mongolia, outlining the work undertaken to-date on the acreage and the opportunity that the assets present.

Interpretation of the seismic data acquired in November 2013 is on-going. Once the in-house interpretation is complete it will be subject to peer review with the objective of identifying, subject to funding, potential drill targets for 2014.

Petro Matad also announces that it has agreed a change to the terms of its engagements with Macquarie Capital (Europe) Limited ("Macquarie").  Macquarie will continue to be engaged as the Company's financial adviser with respect to securing a farm-out(s) but will no longer be engaged as the Company's joint broker.

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 the 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

George Watkins, Chairman

[phone]

NOMAD and Broker

Westhouse Securities Limited

Richard Baty / David Coaten

[phone]

 

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