Petro Matad Regulatory News (MATD)

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

1. Identity of the issuer or the underlying issuer

of existing shares to which voting rights are

attached:

PETRO MATAD LTD

2. Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

X

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to notification obligation:

GLG PARTNERS LP

4. Full name of shareholder(s) (if different from 3):

N/A

5. Date of transaction (and date on which the threshold is crossed or reached if different):

18/10/10

6. Date on which issuer notified:

19/10/10

7. Threshold(s) that is/are crossed or reached:

>5%

8: Notified Details

A: Voting rights attached to shares

Class/type of shares

Situation previous to the triggering transaction

Resulting situation after the triggering transaction

If possible using ISIN CODE

Number of shares

Number of voting rights

Number of shares

Number of voting rights

% of voting rights

Direct

Direct

Indirect

Direct

Indirect

Ordinary shares BBG000TGGHV3

4,944,118

4,944,118

4,944,118

4,944,118

2.76%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date

Exercise/ conversion period/date

No. of voting rights that may be acquired (if the instrument exercised/converted)

Percentage of voting rights

N/A

N/A

N/A

N/A

N/A

C: Financial instruments with similar economic effect to Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date

Exercise/ conversion period/date

No. of voting rights that may be acquired (if the instrument exercised/converted)

Percentage of voting rights

CFD

N/A

N/A

5,909,014

Nominal

Delta

3.30%

3.30%

Total (A+B +C)

Number of voting rights

Percentage of voting rights

10,853,132

6.06%

9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable:

GLG Partners is an investment management firm investing money on behalf of clients and investment funds

Proxy Voting:

10. Name of proxy holder:

N/A

11. Number of voting rights proxy holder will cease to hold:

N/A

12. Date on which proxy holder will cease to hold voting rights:

N/A

13. Additional information:

N/A

14 Contact name:

Dan Johnson

15. Contact telephone name:

020 7016 7426