Stmnt re Share Price Movement

12 January 2017

Petro Matad Limited

("Petro Matad" or the "Company")

Statement re Share Price Movement

Petro Matad notes the recent movement in the Company's share price and can confirm that there is nothing further to update since the Company's update on 10 January 2017.

Further updates will be made in due course.

 Enquiries:

Petro Matad Limited

Ridvan Karpuz, CEO +97 670 141 099 / +97 675 751 099

NOMAD and Broker

Stockdale Securities Limited

Richard Johnson / David Coaten +44 (0)20 7601 6100