Petro Matad confirmed the appointment of Dr. Ridvan Karpuz to the position of exploration manager. He will reside in Mongolia and operate from the company's office in Ulaanbaatar.

Karpuz joins Petro Matad from Austrian-listed integrated oil and gas company OMV, where he has spent the last four years as an exploration and reservoir manager working in Iran, Yemen and more recently Tunisia. He has 23 years of work experience in oil and gas exploration and production.

Karpuz has experience establishing and operating subsurface exploration teams and of delivering 'fast-track' exploration to production programs. His E&P experience has been obtained in remote and logistically demanding locations and in globally significant hydrocarbon provinces such as the Middle East, North Sea, Barents Sea, Norwegian Sea, North Atlantic, and North Africa.

Prior to his role with OMV, Karpuz worked with Endeavour Energy and Norsk Hydro in similar senior exploration roles.