Board Changes

RNS Number : 3374Y

Petro Matad Limited

28 November 2014

 



28 November 2014

Petro Matad Limited

("Petro Matad" or the "Company")

Board changes

Further to the announcement made by the Company on 24 November 2014, regarding the resignation of the Company's then Chairman, Petro Matad announces that Dr. Oyungerel Janchiv, Deputy Chairman, has been appointed as interim acting Chairman. The Company intends to appoint a permanent Chairman in due course.

The Company also announces that it has begun the search for a further independent non-executive director and an announcement in this regard will also be made in due course.

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

John Henriksen, CFO

[phone]

NOMAD and Broker

Westhouse Securities Limited

Alastair Stratton / Martin Davison

[phone]

 

END

 

 

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