Petro Matad (PRTDF)

[plumo]

Petro Matad Limited Termination of Bergen financing facility.

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."