Petro Matad Ltd. announced that Mr. Ridvan Karpuz and Mr. John Henriksen have been appointed to the company's board. Mr. Karpuz will assume the role of Exploration Director whilst Mr. Henriksen will serve as the company's Finance Director. Mr. Clyde Evans, who has been a Non-Executive director of the company since retiring from the role of Chief Financial Officer in April 2012 has, following a successful handover period, now retired from the board.

Mr. Karpuz joined Petro Matad in August 2012 as exploration manager and took over management responsibility for all matters pertaining to the Exploration Division, including operations, in Mongolia following the retirement of Douglas McGay in November this year. Prior to joining Petro Matad, Mr. Karpuz spent five years at OMV. Mr. Henriksen assumed the role as Chief Financial Officer for the company on 17 April 2012.

He is a Qualified Accountant (Canada) with 36 years of experience in the oil and gas industry. Prior to joining the company he spent 5 years with Salamander Energy plc.