RNS Number : 2842Q
Petro Matad Limited
11 September 2017


11 September 2017

Petro Matad Limited

("Petro Matad" or the "Company")

Petro Matad, the AIM quoted Mongolian oil explorer announces that executive director Ms Amarzul Tuul has decided, for personal reasons, to step down from the Company's Board with immediate effect   

However, Petro Matad is pleased to announce that Ms Tuul will continue to work for the Company as a consultant, providing her valuable input and assistance on the Government and Community Relations strategy, and will remain the Group appointed representative at the Mongolian Petroleum Exploration and Production Association.

Commenting, Enkhmaa Davaanyam, Petro Matad Chairperson, said:

"I would like to thank Ms. Tuul for her valuable support and insight which she has provided to the Board and business over the years and I am glad that she has agreed to continue this work on a consultancy basis." 

-Ends -


For more information, please contact:


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


 Business Advisory Firm

 FTI Consulting

 Edward Westropp                                              +44 (0)20 3727 1521


About Petro Matad

Petro Matad is the parent company of a group focussed on oil exploration, as well as future development and production in Mongolia. At the current time, Petro Matad holds the sole operatorship of three Production Sharing Contracts with the Government of Mongolia. Block XX has an area of 10,340 km² in the far eastern part of the country, and Blocks IV and V have an area of 28,900 km2 and 21,100 km2, respectively, in the southwest part of the country.




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