MATD Petro Matad Limited

TIDMMATD

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

+976 70141099 / +976 75751099

NOMAD and Broker

Stockdale Securities Limited

Richard Johnson / David Coaten

+44 (0)20 7601 6100

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCUASARNAAWAAR

(END) Dow Jones Newswires

August 11, 2016 07:43 ET (11:43 GMT)

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