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Additional Information
Market: AIM
Sector: Energy
EPIC: MATD
Latest Price: 13.25p  (-18.46% Descending)
52-week High: 173.50p
52-week Low: 13.50p
Market Cap: 24.65M
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Petro Matad Limited
www.petromatad.com

Petro Matad is the parent company of a group focused on oil exploration, as well as future development and production in Mongolia. The Group’s principal asset is the Production Sharing Contract (PSC) over Matad Block XX, a petroleum block with an area of 14,250km2 in the far eastern part of Mongolia, near the Chinese border. Recently the company signed two more Production Sharing Contracts on Bogd Block IV and Ongi Block V, a total of approximately 71,000km² in central Mongolia. Petro Matad Limited’s shares were admitted to trading on AIM, London Stock Exchange, on May 1st, 2008. The company’s largest shareholder is Petrovis LLC, the largest importer and distributor of petroleum products in Mongolia. The company is the first substantially Mongolian owned company to have its shares admitted to trading on any major international stock exchange.

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Petro Matad unit wins 2 new PSCs from Mongolian Petroleum Authority

8th Jul 2009, 2:49 pm Petro Matad unit wins 2 new PSCs from Mongolian Petroleum Authority

Mongolia-focused oil explorer Petro Matad Ltd (AIM: MATD) said its unit Central Asian Petroleum Corp Ltd (CapCorp) has been awarded two new production sharing contracts (PSCs) by the Petroleum Authority of Mongolia (PAM).

Capcorp together with Mongolian company Petro Matad LLC joined the Petro Matad group in 2007 prior to the latter’s admission to AIM.

The PSCs are for two petroleum blocks in the southern, central part of Mongolia, approximately 500 kilometres south west of the capital Ulaanbaatar. The petroleum blocks Bogd Block IV and Ongi Block V adjoin each other and jointly cover an area of approximately 71,000 square kilometres.

Petro Matad CEO Douglas McGay said: “We now have a portfolio of projects at different stages of development, ranging from the advanced exploration results and drilling plans for the Davsan Tolgoi Prospect; through to the advanced exploration on other leads and prospects nearby on Block XX; onto the identified but largely unexplored grabens on Block XX and now the promising new blocks in the centre of Mongolia.”

 “Whilst management's main focus will be on drilling activities in Block XX we will be undertaking a work programme on Blocks IV and V in the next two years that will consist of a review of information followed by seismic acquisition and interpretation,” he added.

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