Petro Matad (PRTDF)

[plumo]

Issue of Ordinary Shares

The Company announces that it has received notice of conversion of the US$1,500,000 convertible instrument subscribed by Bergen Global Opportunities Fund, LP ("Bergen") (details of which were set out in the Company's announcement on 15 August 2017) (the "Announcement"). Consequently, the Company has issued 16,784,344 new ordinary shares (the "Conversion Shares") at a conversion price of 7p per share, calculated in accordance with the terms of the convertible instrument as set out in the Announcement, to Bergen.

Application has been made for the Conversion Shares to be admitted to trading on AIM with admission expected to take place on 7 September 2017. The Conversion Shares will rank pari passu in all respects with all existing ordinary shares in the Company.

Following admission of the Conversion Shares, the Company's enlarged issued share capital will comprise 333,258,252 ordinary shares with voting rights. This figure of 333,258,252 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the Disclosure Guidance and Transparency Rules of the United Kingdom Listing Authority.