Petro Matad amended share purchase
Petro Matad holds the sole operatorship of three Production Sharing Contracts with the Government of Mongolia.
Petro Matad is the parent company of a group focussed on oil exploration, as well as future development and production in Mongolia. At the current time, Petro Matad holds the sole operatorship of three Production Sharing Contracts with the Government of Mongolia. Petro Matad, the AIM quoted Mongolian oil explorer, announces that the amended and restated share purchase and convertible securities deed between the Company and Bergen Global Opportunity Fund LP the agreement, the details of which, has been terminated by the parties by mutual consent, effective as of 1 December 2017. As a result of the termination, no further funding will be provided to the Company under the Agreement. The Company continues to assess its financing requirements and remains in active discussions with potential farm-in partners. Further announcements will be made in due course.
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