Mongolian Block XX extended until 2020
Friday, Jan 05, 2018

Petro Matad, the AIM quoted Mongolian oil explorer is pleased to announce that its Block XX Production Sharing Contract (PSC) (100% net to Petro Matad) has been formally extended by the Mineral Resource and Petroleum Authority of Mongolia (MRPAM) for a further two years, to 4 July 2020.

Mike Buck, CEO of Petro Matad, commented: "This is a very positive development and again indicates the support for Petro Matad within the relevant government departments in Mongolia. It is also significant in that Block XX contains considerable prospectivity close to Petro China's production infrastructure which is in operation immediately to the North."

Further details on the Company's work programme plans in 2018 and 2019 will be announced in due course.

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