Comparison to Petro Matad

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 30^th Jan 2017).

Will this news release put WOF in a more advanced position as compared to PM?