Regulatory News

Petro Matad Limited

("Petro Matad" or the "Company")

Directors' Dealings

Petro Matad has been notified that Messrs Philip Vingoe and George Watkins, both Non Executive directors of the Company, have today purchased 500,000 and 200,000 ordinary shares of US$0.01 in the Company ("Ordinary Shares") respectively.  The share purchases were made at a price of 7.63 pence per Ordinary Share.

Following the purchases Mr Vingoe has a beneficial interest in 500,000 Ordinary Shares, representing approximately 0.27 per cent. of the Company's issued share capital and Mr Watkins 200,000 Ordinary Shares representing approximately 0.11 per cent. of the Company's issued share capital.

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

Douglas J. McGay - CEO 

+976 11 331099

NOMAD and Joint Broker

Westhouse Securities Limited

Richard Baty / Petre Norton

+44(0)20 7601 6100

Joint Broker

Macquarie Capital (Europe) Limited

Jeffrey Auld / Steve Baldwin / Nicholas Harland

+44(0)20 3037 2000

Investor and Public Relations

RLM Finsbury

James  Leviton

+44(0)20 7251 3801