Petro Matad (PRTDF)

[Tamtam]

Petro Matad Limited (“Petro Matad” or the “Company”) Share price movement
Petro Matad notes the recent increase in the Company’s share price and confirms that it is not aware of any reason for the sharp movement.
As previously announced the Company is in the process of seeking a farm-in partner for its acreage in Mongolia and discussions with a small number of parties are continuing. Interpretation of the recently acquired seismic data from Blocks IV and V is on-going and expected to be largely complete by mid-February. The results of the interpretation will enable the Company to design a drilling programme, which subject to funding and permitting, can be conducted during the 2014 drilling season. Further notifications will be made by the Company should there be any material developments on either the farm-out process or work programme