In an exclusive interview with London South East, Mongolian oil explorer Petro Metad CEO Mike Buck gives a detailed breakdown of the #MATD work programme for 2018 and 2019. $16M funding was raised in February and a further $17M last month.

That money is going towards a four well development programme to be drilled beginning with the Snow Leopard spud next week and ending with the onset of winter in Mongolia around November. Winter is over in March, and 2 further funded wells are planned to be drilled in 2Q 2019. At stake is a potential discovery of 850 million barrels of oil.

Mike Buck accepts that undertaking a six well well programme in a limited time scale is both challenging and ambitious for such a small explorer but says the stakes are high and time is running out on the permitting for these prospects.