Petro Matad Limited Completion of Reassignment (7166V)
February 01 2017 - 3:29AM
UK Regulatory
TIDMMATD
RNS Number : 7166V
Petro Matad Limited
01 February 2017
1 February2017
Petro Matad Limited
("Petro Matad" or the "Company")
Completion of Reassignment of Interests in Blocks IV and V
Petro Matad is pleased to report that all contractual and
regulatory requirements in relation to Shell's affiliate company
(BG Mongolian Holdings Limited - "BGMH"), exit from Blocks IV and V
have been completed and accordingly Shell's affiliate has
officially exited from the blocks. Petro Matad can therefore
reconfirm that it now holds 100% of Blocks IV and V, through its
wholly owned subsidiaries. Receipt of the contractually agreed $5
million final settlement amount as per the conditions under our
previous announcement of 5 August 2016, has been received today
from Shell's affiliate.
Enquiries:
Petro Matad Limited
Ridvan Karpuz, CEO +97 670 141 099 / +97 675 751 099
NOMAD and Broker
Stockdale Securities Limited
Richard Johnson / David Coaten +44 (0)20 7601 6100
This information is provided by RNS
The company news service from the London Stock Exchange
END
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February 01, 2017 03:29 ET (08:29 GMT)
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