1 February2017
Petro Matad Limited
("Petro Matad" or the "Company")
Completion of Reassignment of Interests in Blocks IV and V
Petro Matad is pleased to report that all contractual and regulatory requirements in relation to Shell's affiliate company (BG Mongolian Holdings Limited - "BGMH"), exit from Blocks IV and V have been completed and accordingly Shell's affiliate has officially exited from the blocks. Petro Matad can therefore reconfirm that it now holds 100% of Blocks IV and V, through its wholly owned subsidiaries. Receipt of the contractually agreed $5 million final settlement amount as per the conditions under our previous announcement of 5 August 2016, has been received today from Shell's affiliate.
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
This information is provided by RNS