(MATD.L) Petro Matad Ltd Buy/Sell

RNS Number : 0641C Petro Matad Limited 05 November 2009

TR-1: Notifications of Major Interests in Shares

1. Identity of the issuer or the underlying issuer of
existing shares to which voting rights are attached: Petro Matad Ltd

2. Reason for notification (yes/no)

An acquisition or disposal of voting rights Yes

An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) Citadel Europe LLP

subject to notification obligation:

4. Full name of shareholder(s) Citadel Equity Fund
(if different from 3): Ltd
5. Date of transaction (and 04/11/09

date on which the threshold is crossed or reached if different):

6. Date on which issuer 05/11/09

notified:

7. Threshold(s) that is/are 13%, 12%, 11%, 10%,
crossed or reached: 9%, 8%, 7%, 6%, 5%,
4%, 3%

8: Notified Details A: Voting rights attached to shares

Class/type of shares Situation previous to the triggering Resulting situation after the triggering transaction

If possible use ISIN code transaction
Number of shares Number of voting Number of shares Number of voting Percentage of voting
rights rights rights
Direct Indirect Direct Indirect

Ordinary Shares
12,750,000 12,750,000 0 0 N/A 0% N/A

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument Expiration date Exercise/ conversion No. of voting rights Percentage of voting
period/date that may be acquired rights
(if the instrument
exercised/converted)

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument Exercise price Expiration date Exercise/ No. of voting rights Percentage of voting rights
Conversion Period that may be acquired
(if the instrument
exercised/converted)
Nominal Delta

Total (A+B+C)

Number of voting rights Percentage of voting rights
0%

0

9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable:

Proxy Voting:
10. Name of proxy holder: N/A
11. Number of voting rights proxy holder will cease to hold: N/A

12. Date on which proxy holder will cease to hold voting rights: N/A

13. Additional information: Citadel Europe LLP acts as sub-investment
advisor to Citadel Advisors LLC. Citadel
Advisors LLC is the investment manager of
Citadel Equity Fund Ltd
14 Contact name: Matthew Oswald

15. Contact telephone name: 020 645 9861

This information is provided by RNS The company news service from the London Stock Exchange

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RNS Number : 0132C Petro Matad Limited 05 November 2009

Petro Matad Limited

("Petro Matad" or the "Company")

Holdings in Company

The Company was today notified that on 4 November 2009, Petrovis LLC ("Petrovis") acquired a further 12,750,000 Petro Matad ordinary shares of $0.01 per share ("Shares") through the market. Following this acquisition Petrovis has an interest in 57,505,002 Shares representing 45.88 per cent. of the Company's issued share capital.

As the central management and control of Petro Matad is outside of the UK, the Channel Islands and the Isle of Man, the provisions of the UK Takeover Code do not apply to the Company. However, the Articles of Association of the Company (the "Articles") include alternative provisions to the provisions of the UK Takeover Code in respect of mandatory offers. Under the Articles, where any person acquires shares in the Company and, as a result of that acquisition, would have been obliged under the terms of the UK Takeover Code (had it applied) to extend an offer to all holders of other shares in the Company and thereafter fails to make such an offer, the Board is entitled to suspend, with immediate effect, all voting rights attributable to those shares held by the person who would have been be obliged to make a mandatory offer. Whether or not to disenfranchise such a shareholder is at the Board's discretion. The Board has in these circumstances given approval to Petrovis to increase its shareholding without being disenfranchised. Petrovis has entered into a revised Relationship Agreement with the Company which limits its voting rights to 40 per cent. of the Company's voting shares.

Note to Editors:

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. The principal asset is the PSC for Block XX, a petroleum block of 14,250km² in the far eastern part of the country. The two other blocks, IV and V are located in central Mongolia and jointly cover 73,498km².

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

Further information: Petro Matad Limited
Douglas J. McGay- CEO +976 11 331099

Hanson Westhouse Limited
Richard Baty/Christine Zhang/Petre Norton +44 (0)20 7601 6100

Bankside Consultants Simon Rothschild / Oliver Winters / Louise Mason +44 (0)20 7367 8888

This information is provided by RNS The company news service from the London Stock Exchange

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RNS Number : 7593B Petro Matad Limited 02 November 2009

Petro Matad Limited ("Petro Matad" the "Company")

Drilling Update

Petro Matad advises that is has suspended operations at its Davsan Tolgoi-1 ("DT-1") well site due to winter conditions. The DT-1 well is located on the Company's Production Sharing Contract on Block XX in Eastern Mongolia.

As previously advised, a drilling agreement with Ansai Yuehua Oil Tech Company Ltd ("Ansai Yuehua") was executed on 19 October 2009. Under the terms of the drilling agreement, Ansai Yuehua provided a drilling rig to Petro Matad by 30 October 2009.

A severe cold snap in the on-site weather from 30 October to 1 November precipitated an operational decision to suspend any commencement of drilling in 2009. The operator of the PSC to the north of Block XX, Daqing Oilfields is also shutting down in preparation for exiting its extensive operations for the winter period on 10 November.

Ansai Yuehua completed the provision of the drilling rig under the terms of its contract and the rig operations had reached a stage where the well could have been spud on 2 November. All extra site works including the drilling of a 260m deep water well, camp establishment and road and earthworks had also been completed.

The Company and its contractors are now preparing the site for a secure winter shutdown, with appropriate care, safety and maintenance through the next five months of the Mongolian winter.

Drilling is expected to commence in April 2010, as soon as weather conditions permit.

Commenting on the development, Petro Matad's CEO Douglas McGay said:

"Ansai Yuehua's and our other contractor and consultants' performance in mobilising the rig, setting it up ready for drilling and completing all other preparatory work has been exceptional. Much was achieved in a short time. The Company is now in a position to refine operational matters, and be ready to drill DT-1 at the earliest possible weather opportunity in 2010."

Note to Editors:

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. The principal asset is the PSC for Block XX, a petroleum block of 14,250km² in the far eastern part of the country. The two other blocks, IV and V are located in central Mongolia and jointly cover 73,498km².

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

Further information:

Petro Matad Limited

Douglas J. McGay - CEO

+976 11 331099

Hanson Westhouse Limited

Richard Baty/Petre Norton

+44 (0)20 7601 6100

Bankside Consultants

Simon Rothschild / Oliver Winters / Louise Mason

+44 (0)20 7367 8888

This information is provided by RNS The company news service from the London Stock Exchange

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RNS Number : 2140B Petro Matad Limited 22 October 2009

Petro Matad Limited ("Petro Matad" the "Company")

Signing of Drilling Agreement and Appointment of Rodney Graham as Head of Operations

Drill programme and schedule

Petro Matad is pleased to announce that its wholly owned subsidiary, Petromatad Invest Limited, has entered into a drilling agreement with Ansai Yuehua Oil Tech Company Ltd (Menggu Yuehua Company) ("Ansai Yuehua") which will enable drilling to commence on a multi-well drilling programme in the Company's Davsan Tolgoi Prospect on Block XX in Eastern Mongolia.

The Company recently commissioned an independent well drilling consultancy, IPS Australasia Pty Ltd ("IPS"), to undertake a study for an accelerated well drilling proposal in the Company's Davsan Tolgoi Prospect on Block XX. The resultant report was positive and indicated that a programme could be initiated in 2009 with all safety, environmental and engineering matters catered for within budget.

Petro Matad also commissioned its subsurface technical consultants, Isis Petroleum Consultants Pty Ltd ("Isis"), to evaluate and make recommendations on potential drilling locations in the north-east of Block XX.

Isis recommendeds a multi-well drilling programme, with all proposed wells located within the Davsan Tolgoi Prospect (the location of the 2008 3D seismic data set). A variety of play types have been matured to prospect status and they include anticlinal closures, horst blocks and rotated fault blocks.

The initial well in the drilling programme is designated Davsan Tolgoi-1 ("DT-1"). The DT-1 well is located updip and 5 km from the nearest oil discovery well and 10 km updip from the Tolson Uul Oil Field in the adjacent Block XIX. The DT-1 well is located on an independent anticlinal closure within the larger Davsan Tolgoi Prospect.

The drilling agreement with Ansai Yuehua was executed on 19 October 2009 and provides for the drilling of the first well on Block XX with the option to continue the drilling agreement on the same terms until the completion of work on up to five additional wells, approval being given on a progressive basis. IPS has been commissioned to supply all necessary supervisory personnel on behalf of Petro Matad, and has also been completing well engineering designs and all other procedures and documentation in respect of the proposed drilling.

Under the terms of the drilling agreement, Ansai Yuehua shall provide the drilling rig to Petromatad Invest Limited by 30 October 2009 and drilling is scheduled to continue until winter weather conditions prohibit. Ansai Yuehua is obliged to maintain the equipment during the winter shutdown period until the recommencement of operations in the following spring.

Commenting on the drill agreement, Petro Matad's CEO Douglas McGay said:

"We are delighted to announce that the Company has signed a drilling contract with Ansai Yuehua. The decision to engage Ansai Yuehua follows a lengthy consultation and review process, with the Petroleum Authority of Mongolia consulted and involved. Ansai Yuehua has been able to satisfy all of our pre-conditions and checks, and I am looking forward to our Company working with them on this project. A rig has already been mobilised to Davsan Tolgoi, and site construction works are advancing."

Further appointment and award

Award to General Manager B Dendevchuluun

On 21 October 2009, the Minister for Energy and Resources vested Petro Matad's General Manager Mr B Dendevchuluun with Mongolia's "Order of the Red Banner of Labor" award. Mr Dendevchuluun has been a leading figure in the Mongolian petroleum sector for many decades, as a practicing geophysicist as well as achieving distinguished service in private business and governmental positions.

Appointment of Rodney Graham

Petro Matad is also pleased to announce the appointment of geo-scientist Mr Rodney W. Graham to its management in the position of "Head of Operations". Mr Graham has a MSc in geology and has been operating in the resources sector of Mongolia for the past 9 years. He has an extensive understanding of Mongolian geology, and a number of years of managing field operations, ranging from conceptual reconnaissance exploration through to drilling programmes, using both Mongolian professionals and contractors and international consultants.

Douglas McGay, said:

"The Company is excited that the Mongolian people have recognised the valuable contribution of a lifetime's work in the petroleum sector undertaken by our General Manager, Mr Dendev. He is a deserving recipient of one of Mongolia's highest civil awards, and we are proud to have Mr Dendev as part of our senior management, particularly as he was the conceptual originator of our application for Matad Block XX.

"We welcome Rod to the Petro Matad team at an exciting and busy time for the Company. Throughout a distinguished career Rod has developed an unparalleled knowledge of Mongolian geology, and his field and contract skills have already been of significant value to the group in helping to finalise the drill contract and in coordinating the ground works at the drill site."

Note to Editors:

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. The principal asset is the PSC for Block XX, a petroleum block of 14,250km² in the far eastern part of the country. The two other Blocks, IV and V are located in central Mongolia and jointly cover 73,498km².

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

About Ansai Yuehua

Ansai Yuehua is a privately owned Chinese oil and natural gas drilling company that has been operating for 4 years in China and 2 years in Mongolia. It is based in Yanan, Shanxi Province China and owns 3 drilling rigs. They have successfully undertaken more than 30 exploration and development wells both in Mongolia for other PSC holders and also in China.

Further information:

Petro Matad Limited

Douglas J. McGay - CEO

+976 11 331099

Hanson Westhouse Limited

Richard Baty/Petre Norton

+44 (0)20 7601 6100

Bankside Consultants

Simon Rothschild / Oliver Winters / Louise Mason

+44 (0)20 7367 8888

This information is provided by RNS The company news service from the London Stock Exchange

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