Petro Matad (PRTDF)

[plumo]

Issue of Ordinary Shares

The Company announces that pursuant to, and subject to, the terms and conditions set out in the share purchase and convertible security deed with Bergen Global Opportunities Fund, LP (details of which were set out in the Company's announcement on 8 May 2017) (the "Agreement") on 13 June 2017 it issued 9,507,963 ordinary shares (the "Relevant Shares") at a purchase price of GBP0.10 per share, in connection with the first monthly funding tranche of $1,200,000 under the Agreement. Application has been made for the Relevant Shares to be admitted to trading on AIM with admission expected to take place on 19 June 2017. The Relevant Shares will rank pari passu in all respects with all existing ordinary shares in the Company.

Following admission of the Relevant Shares, the Company's enlarged issued share capital will comprise 303,084,189 ordinary shares with voting rights. This figure of 303,084,189 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.