Petro Matad Regulatory News (MATD)

22 November 2017

Petro Matad Limited

("Petro Matad" or the "Company")

Appointed to the Board of Mike Buck, CEO

Further to the announcement of 25 October 2017, Petro Matad (AIM: MATD) is pleased to announce that Mike Buck, CEO, has today joined the Board of the Company.

Mike Buck, CEO, said:

"I am very pleased to be joining the Board of Petro Matad. As an explorer by training and experience, I am excited by the potential of the Company's acreage portfolio. The under-explored basins of Mongolia comprise one of the last remaining onshore oil exploration frontiers in the world and the geology of the area shows striking similarities with the prolific oil producing basins across the border in northern China. I look forward to progressing an active drilling campaign to fully evaluate the potential of our extensive portfolio".

Additional disclosures in relation to Michael James Buck (aged 60):

Current directorships/partnerships:

Red Sun Resources Pte Ltd

Ikat Energy Pte Ltd

Previous directorships/partnerships (last 5 years):

Ophir (Indonesia South East Sangatta) Ltd

Ophir Indonesia (Kutai) Ltd

Ophir Indonesia (North East Bangkanai) Ltd

Ophir Indonesia (Simenggaris) Ltd

Ophir Indonesia (South Sokang) Ltd

Ophir Indonesia (West Bangkanai) Ltd

Ophir Thailand (Bualuang) Ltd

Salamander Bualuang & Kambuna Ltd

Salamander Energy (Bangkanai) Ltd

Salamander Energy (Bontang) Pte Ltd

Salamander Energy (Canada) Ltd

Salamander Energy (Central Kalimantan) Ltd

Salamander Energy (Glagah Kambuna) Ltd

Salamander Energy (JS) Ltd

Salamander Energy (Kerendan) Ltd

Salamander Energy (Lao) Co. Ltd

Salamander Energy (Malaysia) Ltd

Salamander Energy (North Sumatra) Ltd

Salamander Energy (Nurul) Pte Ltd

Salamander Energy (Thailand) Co. Ltd

Salamander Energy plc

Salamander Energy Singapore Pte Ltd

Mr Buck has no shareholding in Petro Matad.

There is no further information to be disclosed under Schedule 2(g) and Rule 17 of the AIM rules in relation to the appointment of Mr. Buck.

-Ends -

For more information, please contact:

Business Advisory Firm

FTI Consulting

Edward Westropp +44 (0)20 3727 1521

About Petro Matad

Petro Matad is the parent company of a group focused on oil exploration, as well as future development and production in Mongolia. At the current time, Petro Matad holds the sole operatorship of three Production Sharing Contracts with the Government of Mongolia. Block XX has an area of 10,340 km² in the far eastern part of the country, and Blocks IV and V have an area of 28,900 km2 and 21,100 km2, respectively, in the southwest part of the country.

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.