Replies to post #466 on Petro Matad (PRTDF)

[doubleaa]

And me
thanks maybe something will happen
wonder how high Red is on this now :o(

[plumo]

Petro Matad Limited Result of AGM

Result of Annual General Meeting

The directors of Petro Matad Ltd announce that at the Company's Annual General Meeting held in Ulaanbaatar today, resolutions 1, 2, 5 and 6 were duly passed. However, resolutions 3 and 4, regarding the re-appointment of Mary Ellen Collins (non-executive director representing EBRD) and David Skeels (non-executive director) as directors of the Company, were not passed.

The Company's major shareholder, Petrovis Matad Ltd, together with associated entities and persons, called for a poll vote in the meeting and subsequently voted against resolutions 3 and 4. Their votes were sufficient to defeat both resolutions. Accordingly, Mary Ellen Collins and David Skeels have not been re-appointed to the Petro Matad board of directors.

The directors note that EBRD has the right to nominate and to have appointed a member of the board of directors.

A further announcement will be made in due course.

About Petro Matad Limited

Petro Matad is the parent company of a group focussed on oil exploration, as well as future development and production in Mongolia. The Group holds the sole operatorship of three Production Sharing Contracts with the Government of Mongolia. Block XX has an area of 10,340km(2) in the far eastern part of the country. Blocks, IV and V are located in central Mongolia. Block IV covers approximately 29,000km(2) and Block V approximately 21,150km(2).

Petro Matad Limited is incorporated in the Isle of Man under company number 1483V. Its registered office is at Victory House, Prospect Hill, Douglas, Isle of Man, IM1 1EQ.