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.
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.
Since 2006, Petro Matad has carried out extensive exploration on Block XX. This has consisted of re-processing previous data and undertaking programmes of 2D and 3D seismic surveys. Petro Matad is now ready to advance to the next stages of exploration on Block XX and early stage exploration and appraisal of Blocks IV and V.
It is intended that exploration will primarily be carried out by applying modern data processing and interpretation techniques to geophysical information, acquiring additional geophysical data and then, subject to future financing, undertaking drilling programmes where warranted.
The Company’s issued share capital consists of 333,258,252 Ordinary Shares of par value USD$0.01. The Company does not hold any Ordinary Shares in Treasury.
In so far as the Company is aware, the percentage of the Company’s issued share capital that is not in public hands is 34.18%.
The Company is aware of the below shareholders who hold 3% or more of the Company’s issued share capital.