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.
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