Stock analysis veteran and lover of the oil and gas game, Peter Strachan, is putting aside the Bloomberg terminal and picking up the microphone for another instalment of The Wildcatter Podcast.

In this latest episode, Peter interviews Ken Aitken, CEO of Metgasco (ASX:MEL).

Metgasco is an Australia-focused oil and gas exploration company with a market capitalisation of around $15m at a share price of 3.8c per share.

Interestingly, the company has a significant stake in the successful Gulf of Mexico oil and gas producer, Byron Energy (ASX:BYE) which, along with its net cash, has a current market value of around $13.5m.

This means Metgasco is currently trading with less than $2m of value ascribed to its active exploration portfolio.

The company is about to participate with a 25 per cent free carried interest in the Vali-1 well, where discovery is estimated to add 9.5 billion cubic feet (Bcf) of gas to the company’s account in the high-value east coast Australian market.

That work will be followed by drilling on the Odin gas prospect around mid-2020 where a target of between 12 and 42Bcf of gas is estimated.

Metgasco has also farmed into the onshore Perth Basin permit L-14 and now has a 30 per cent interest in drilling on the Cervantes oil target, which has an estimated prospective resource of 15.3 million barrels of oil, in early 2020.

On mobile? Click here to listen with Apple podcasts, here for Spotify or here for Google Podcasts.

Like to listen to podcasts through another app? Just search for The Wildcatter Podcast with Peter Strachan and subscribe!