Source: Petro Matad                Date: 25 May, 2011

Petro Matad has appointed Ms. D. Enkhmaa as a non-executive director of the company with immediate effect.  Ms. Enkhmaa has also been appointed to the Board's Corporate Governance, Social Action and Environment Committee.  The appointment is on the nomination of Petrovis LLC, Petro Matad's largest shareholder, with Ms. Enkhmaa replacing Ms. D. Enkhchimeg who has resigned as a director of Petro Matad.

Ms. Enkhmaa, 32, is a Mongolian and Australian national who is based in Mongolia.  She is an investment banker and currently Head of Country Coverage for Mongolia for Macquarie Capital Advisers. Commenting on the decision, Mr. Doug McGay, CEO of Petro Matad, has said, "Ms. Enkhmaa’s experience in energy and specifically the oil & gas sector, along with her banking experience and qualifications, combine to make her a valuable addition to the company and we look forward to drawing upon her skills."