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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Petro Matad Limited | LSE:MATD | London | Ordinary Share | IM00B292WR19 | ORD USD0.01 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 3.75 | 3.70 | 3.90 | 0.00 | 07:30:44 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Oil And Gas Field Expl Svcs | 201k | -2.95M | -0.0026 | -14.42 | 41.77M |
From Apr 2019 to Apr 2024
TIDMMATD
RNS Number : 1037Y
Petro Matad Limited
01 December 2017
1 December 2017
Petro Matad Limited
("Petro Matad" or the "Company")
Petro Matad, the AIM quoted Mongolian oil explorer, announces that the amended and restated share purchase and convertible securities deed between the Company and Bergen Global Opportunity Fund LP ("Bergen") dated 14 August 2017 (the "Agreement"), the details of which were notified on 8 May 2017 and 15 August 2017, has been terminated by the parties by mutual consent, effective as of 1 December 2017.
As a result of the termination, no further funding will be provided to the Company under the Agreement.
The Company continues to assess its financing requirements and remains in active discussions with potential farm-in partners.
Further announcements will be made in due course.
Mike Buck, CEO of Petro Matad, commented:
"Bergen Global Opportunity Fund proved a responsive and flexible funding partner for Petro Matad, and I wish to thank Eugene Tablis and his team at Bergen for their support."
-Ends -
For more information, please contact:
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Petro Matad Limited
+97 670 141 099 / +97
Mike Buck, CEO 675 751 099
NOMAD and Broker
Stockdale Securities Limited
Richard Johnson / El Hanan
Lee +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 km(2) 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.
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCQFLBBDLFEFBK
(END) Dow Jones Newswires
December 01, 2017 02:01 ET (07:01 GMT)
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