Petro Matad Welcomes New Non-Executive Directors

Petro Matad announced the appointments of Mary Ellen Collins and Davaanyam Enkhchimeg as non-executive directors of the Company with immediate effect. 

Ms. Collins (aged 65) has over 30 years' experience in international corporate banking, with extensive experience in Eastern Europe and Central Asia. Ms. Collins holds a MBA in Finance from the Wharton School of the University of Pennsylvania. 

Ms. Enkhchimeg (aged 36) is the chief executive of Petrovis LLC. Prior to taking up her position at Petrovis LLC in 2008, she worked for the Ministry of Industry and Trade in Mongolia and was Head of Investment and Planning Division at Erdenes MGL SHC. 

Commenting on the appointments, Doug McGay, CEO of Petro Matad said, "We are delighted Mary Ellen has agreed to join the Board. Her extensive financial experience and proven track record working with companies in the emerging markets will strengthen the Company as we move forward with the next stage of our development. Her EBRD experience will also strengthen Petro Matad's relationship with the Bank, one of our major shareholders. 

"We are also extremely pleased to welcome Ms. Enkhchimeg to the Board. The Company will gain enormous benefit from her expertise in both Mongolian and international commerce. She will also prove invaluable as a liaison point between our many individual Mongolian investors, as well as furthering our valuable association with Petrovis." 

From 1998, Ms. Collins was a director of Geopots, resigning on April 1, 2010. Ms. Enkchimeg has been a director of Petrovis LLC from January 2008.