Very good interview with Mike which confirms all what was suspected.
https://audioboom.com/posts/7407804-valuethemarkets-podcast-027-with-mike-buck-ceo-of-petro-matad-matd
Heron-1 exploitation license application in process, we will see production in Q1 2020.
Incremental well count using FCF (eg no plans for any placing, generate the cash, get another well done on Heron - basic option pending band debt or farm out).
Confirms enough cash left for a cheap drill (2nd Heron well)
Heron size upgrades possible.
Gazelle - potential for thicker net pay meaning Gazelle may be a commercial size discovery.
South Tamtsag Basin (Erdenetsagaan area) potential for sone very material sized prospects now following Gazelle strat trap play prove.
No plans as yet for Phoenix or Raptor in 2020 however very interesting that they might consider using a truck mounted rig to drill bore holes into them in Block V, or at least VelociRaptor in Block V. The bore hole approach has been done before - very cheap way of proving oil or not. I like that, thinking outside the box.
Certainly looks very exciting and Mike has intimated quite clearly they have the cash to move forward in a steady way, getting Block XX into production and incrementally increasing production and therefore incrementally increasing Free Cash Flow to then reinvest.
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