Petro Matad Regulatory News (MATD)

Petro Matad Limited

("Petro Matad" or the "Company")

Directorate Change

The Board of Petro Matad is pleased to announce the appointment of Ms. Amarzul Tuul to the Company's board as a Director.

Ms. Amarzul (Amaraa) has been a part of Petro Matad and its group companies from its formation since 2006, supported the Company's listing process on AIM in 2008 and was instrumental in applying and signing Production Sharing Contracts with the Government of Mongolia over Blocks IV and V in 2009. As Executive Director of Petro Matad LLC and Capcorp Mongolia LLC, Petro Matad's Mongolian subsidiaries, she oversees and manages the Group's operations in Mongolia including maintaining a solid relationship with its Mongolian stakeholders including government agencies, and serves on the Group's executive management committee.

Ms. Amarzul is a Mongolian citizen, educated in Singapore and has a BA degree in Foreign Relations. She began her career in 2002 with the Mongolian Government's Foreign Investment and Foreign Trade Agency (FIFTA) and moved into the Mongolian resources sector in 2004, through senior management positions in private resource companies. She is also the Executive Director of the newly formed Mongolian Petroleum Exploration and Production Association and serves on the Board of the Business Council of Mongolia.

Commenting on the appointment of Ms. Amarzul, Douglas McGay, CEO of Petro Matad said:

"In addition to the recent announced Board changes, it gives me great pleasure to welcome Amaraa, a young and talented Mongolian to the Company's Board of Directors. The appointment strengthens executive and management representation on the Board. Through her role as the Executive Director of Petro Matad's operating subsidiaries, Ms. Amarzul has earned the respect of both her colleagues and Petro Matad's stakeholders. I believe her business acumen, management insights, local knowledge and experience will contribute greatly to the Board's decision-making processes."

Schedule 2 Disclosures

For the purposes of AIM Rule 17 and Schedule 2(g) of the AIM Rules, the Company makes the following disclosures:

Ms. Amarzul Tuul (aged 34) is a director of Capcorp Mongolia LLC and Petro Matad LLC, both of which are subsidiaries of Petro Matad. Ms. Amarzul has an interest in 472,500 Petro Matad Ordinary Shares representing 0.03 per cent of the Company's issued share capital. There are no further disclosures for the purposes of AIM Rule 17 and Schedule 2(g) of the AIM Rules.

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