Petro Matad Limited announced the appointment of a new CEO. Mr. Michael Buck has been appointed as Chief Executive Officer of Petro Matad Limited. He will be appointed to the board as soon as AIM regulatory processes have been completed and a further announcement in that regard will be made at that time.

Following the acquisition of LASMO PLC by Eni S.p.A., he was appointed Managing Director of Eni's Pakistan Geographic Unit and thereafter of the Iran Geographic Unit. The company notified that Mr. Ridvan Karpuz has stepped down from the board. He will continue as a technical consultant to the Company and assist in the handover to Mike Buck.