Petro Matad updates on Blocks IV and V

Petro Matad said all contractual and regulatory requirements in relation to Shell affiliate company BG Mongolian Holdings Limited’s exit from Blocks IV and V have been completed.

Accordingly, Shell’s affiliate has officially exited from the blocks.

Petro Matad said it could therefore reconfirm that it now held 100% of Blocks IV and V, through its wholly owned subsidiaries.

Receipt of the contractually agreed $5m final settlement amount as per the conditions under our previous announcement of 5 August 2016, has been received today from Shell’s affiliate.

At 9:03am: (LON:MATD) Petro Matad Ltd share price was -1.25p at 18.5p

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