11 Aug 2016 12:43
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11 August 2016
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Petro Matad Limited
("Petro Matad" or the "Company")
Financial Update
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Further to the Company's announcement of 5th August 2016, Petro Matad confirms that the $10,005,303 exit payment stipulated by the Farmout Agreement has now been received by the Company.
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Upon completion of the reassignment a further $5m payment is due from Shell.
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A further announcement will be made in due course
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Further Information:
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Petro Matad Limited
Ridvan Karpuz, CEO
+976 70141099 / +976 75751099
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NOMAD and Broker
Stockdale Securities Limited
Richard Johnson / David Coaten
+44 (0)20 7601 6100