Last checked at 7 Feb 2013 07:00
Petro Matad Limited
("Petro Matad" or the "Company")
Presentation at Oil Barrel Conference and Appointment of Macquarie Tristone to manage farm-out process
Petro Matad is pleased to announce that the Company is today presenting at the 57th Oil Barrel conference in London. The Company's Exploration Director, Ridvan Karpuz will be providing an update on the Company's portfolio of exploration assets in Mongolia and explaining Petro Matad's strategy to seek farm-out partners to accelerate the exploration of the Company's acreage. The presentation contains no material information that has not been previously disclosed.
Petro Matad has engaged Macquarie Capital (Europe) Limited ("Macquarie Tristone") to find a strategic partner to progress exploration activities on its three 100%-owned onshore Blocks in Mongolia comprising 60,300 km2. The transaction will be by means of a joint venture or farm-out in order to expedite evaluation, seismic acquisition and drilling activities.
A copy of the Company's presentation to delegates at Oil Barrel will be available at the Investors' Section of the Company's website following the conference and information regarding the farm-out process can be accessed via the link below to the website of Macquarie Tristone.
http://www.macquarie.com/mgl/com/macquarietristone/mandates/petromatad
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
George Watkins, Chairman
+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