Mongolia: Petro Matad announces Block XX Exploitation Licence update 10 May 2021 Petro Matad, the AIM quoted Mongolian oil company, has announced an update on the progress of its formal application for an Exploitation Licence for Block XX. The meeting of the Mineral Resources Professional Council (MRPC) to review Petro Matad's Plan of Development was convened virtually due to the Covid-19 lockdown in Ulaanbaatar. The Council concluded that it supports and will approve the Plan of Development once certain technical clarifications have been provided and any resulting amendments to the documentation deemed necessary have been made. The items requiring clarification have been received from MRPC. With the recent relaxation of lockdown restrictions in Mongolia, the Company is now in discussion with MRPC's designated officials to clarify the points raised in order to secure MRPC written approval of the Plan of Development.