I don't know very much about Petro Matad (PM). The reason that I am asking the questions below is to get a better handle on Wolf’s current position and expected future development. My assumption is that PM is following a similar path to WOF. Is this correct?
A quick look at the PM website shows announcement in August 2016 that they will receive $USD 15 million exit fee from Shell.
They have a market cap of GBP 102.78 million or $AUD 166.9 million.
They have large land holdings (they say the largest in Mongolia) -
Matad Block XX, with an area of 10,340km2 in the far eastern part of Mongolia near the Chinese border
Bogd Block IV and Ongi Block V, adjacent to each other in west central Mongolia totalling approximately 50,000km2
Apparently PM are more advanced than WOF in relation to their oil exploration in Mongolia.
Can anyone explain how they are more advanced?
WOF have a market cap of $30 million (including option market price).
So PM have a market cap of more than five times WOF.
Again, can anyone explain why the difference of a factor of five?
The expected announcement of WOF’s exploration programme and budget is imminent (as per quarterly on 30th Jan 2017).
Will this news release put WOF in a more advanced position as compared to PM?
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