Presentation at Oil Barrel Conference

RNS Number : 3132X

Petro Matad Limited

07 February 2013

 



Petro Matad Limited

("Petro Matad" or the "Company")

Presentation at Oil Barrel Conference and Appointment of Macquarie Tristone to manage farm-out process

Petro Matad is pleased to announce that the Company is today presenting at the 57^th Oil Barrel conference in London.  The Company's Exploration Director, Ridvan Karpuz will be providing an update on the Company's portfolio of exploration assets in Mongolia and explaining Petro Matad's strategy to seek farm-out partners to accelerate the exploration of the Company's acreage.  The presentation contains no material information that has not been previously disclosed.

Petro Matad has engaged Macquarie Capital (Europe) Limited ("Macquarie Tristone") to find a strategic partner to progress exploration activities on its three 100%-owned onshore Blocks in Mongolia comprising 60,300 km². The transaction will be by means of a joint venture or farm-out in order to expedite evaluation, seismic acquisition and drilling activities.

A copy of the Company's presentation to delegates at Oil Barrel will be available at the Investors' Section of the Company's website following the conference and information regarding the farm-out process can be accessed via the link below to the website of Macquarie Tristone.

http://www.macquarie.com/mgl/com/macquarietristone/mandates/petromatad

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 Joint Broker

Westhouse Securities Limited

Richard Baty / Petre Norton

[phone]

Joint Broker

Macquarie Capital (Europe) Limited

Jeffrey Auld / Steve Baldwin / Nicholas Harland

[phone]

 

END

 

 

MSCNKADQOBKDCBK