New Exploration Manager Takes Helm at Petro Matad

Petro Matad announced the appointment of Dr. James Coogan to its senior management team in the position of Exploration Manager. Dr. Coogan is a petroleum geologist with 28 years of experience in industry, government and academic settings. That experience has been gained in the United States and internationally and has involved providing technical leadership in frontier plays and prospect development, marketing, and drilling, including discoveries in the US, North Africa, and South America.

Dr. Coogan has extensive experience in geological terrains that are analogous to the North Asian basins in which Petro Matad operates. He has served in large international oil companies, smaller specialized explorers and developers, consultancies and academia. He is the author of over 30 publications, principally concerning frontier exploration.

Petro Matad's Head of Operations, Rod Graham, and Dr. Coogan are currently completing arrangements for the formation of an in-house exploration team for the Company, recruiting international and Mongolian professionals. The Company's business plan involves creating a small, dedicated and focussed team of exploration professionals to progress both the advanced prospect of Block XX and Petro Matad's less developed PSCs, Blocks IV and V. Dr. Coogan and the other international hires will join the current Mongolian-based Technical Division, resident in Ulaanbaatar and headed by Rod Graham on a permanent basis in the near future.

CEO Douglas McGay, said, "We welcome Dr. Coogan to the Petro Matad team. His appointment is particularly exciting as his professional skills, experience and personality are a perfect fit for our Company and its exploration model. While his main focus will be on his core skills of leading his team and our Company to technical success, his industry and academic teaching experience will complement our Company's mission of meaningful technology transfer to Mongolian petroleum professionals."