Today’s guest is Mike Buck, CEO of Petro Matad (LSE:MATD). The company is focussed on oil exploration in Mongolia and is targeting 3 Production Sharing Contract (PSC) Blocks ((IV, V, and XX) in which it holds a 100% working interest. Blocks IV and V are located in the frontier area of western Mongolia and Petro Matad has drilled one wildcat drill in each block, Snow Leopard- 1 and Wild Horse-1. Block XX is to the east and is adjacent to the main oil-producing province of Mongolia. On Monday, Petro Matad released encouraging drilling results from the Heron-1 well on this block and plans to spud a second well in the area called Gazelle-1 shortly.
Mike discusses the results and next steps at Heron-1, the remaining drills of its current programme, and talks about operating in Mongolia.
Author: Stuart Langelaan
Disclosure: the author was not paid for this piece. The author does not own shares in the company mentioned.
All opinions expressed are those of ValueTheMarkets and the respective guests unless otherwise stated and should not be construed as investment advice or a recommendation to buy shares in any featured Company. Listeners are advised to do their own extensive research before buying shares which, as with all small-cap exploration stocks, should be viewed as high risk. Investors should also seek the advice of a qualified investment adviser or stockbroker as they deem appropriate.