Replies to post #553 on Petro Matad (PRTDF)

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Transactions by Director

Petro Matad announces that on 24 July 2017 Dr Oyungerel Janchiv, non-executive director of Petro Matad, gifted for no consideration and by way of off-market transactions, 3,600,000 ordinary shares of US$0.01 each in the Company ("Shares") to her children Shinezaya Batbold and Dulguun Batbold, each of whom received 1,800,000 Shares.

Dr Oyungerel and Petrovis Matad Inc. ("Petrovis") are members of the Petrovis Group Concert Party. Dr Oyungerel controls more than 20% of Petrovis. Her direct holding in Petro Matad of 13,267,946 Shares (following the transactions detailed above) is, for disclosure purposes, aggregated with that of Petrovis under the AIM definition of director's family. The aggregated holding of Dr Oyungerel and Petrovis is 107,952,208 Shares representing 34.11 per cent. of the Company's issued share capital.

Following the above transactions, the combined shareholdings of the Petrovis Group (being Petrovis, its underlying shareholders and their family members) will remain unchanged at 144,112,822 Shares, representing 45.54 per cent. of the Company's issued share capital.

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Update re. Financing Agreement

Petro Matad, the AIM quoted Mongolian oil explorer, provides an update in relation to the share purchase and convertible security deed (the "Deed") with Bergen Global Opportunity Fund, LP (the "Investor") as announced by the Company on 8 May 2017 (the "May RNS").

In order to provide the Company with an opportunity to minimise dilution to the existing shareholders, effective 14 August 2017, the Deed has been amended and restated by mutual consent of the Company and the Investor, to provide that (a) the approximately monthly schedule of tranche equity investments described in the May RNS will be postponed until 15 October 2017, and (b) in lieu of the monthly funding during that period, the Investor has advanced an amount of US$1,500,000 by way of a 24-month interest-free unsecured convertible instrument with the face value of US$1,500,000 (the "Additional Convertible"), which will be convertible, in whole or in part, into new ordinary shares on the same terms as the US$2,000,000 Convertible referenced as issuable under the Deed in the May RNS (the "May Convertible"). For clarity, the Additional Convertible is being advanced in addition to the May Convertible.