Financial Update

RNS Number : 9560G

Petro Matad Limited

11 August 2016

 

11 August 2016

Petro Matad Limited

("Petro Matad" or the "Company")

Financial Update

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. 

Upon completion of the reassignment a further $5m payment is due from Shell.

A further announcement will be made in due course

Further Information:

Petro Matad Limited

Ridvan Karpuz, CEO

[phone] / [phone]

NOMAD and Broker

Stockdale Securities Limited

Richard Johnson / David Coaten

[phone]

 

END

 

 

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