so why mad sp dropped so much today?, page-49

Nihillism

When last on i explained in great detail why i thought the stock was overvalued.

I will simplify it.

MAD's market cap is almost 600M. Production is around 600 BOPD which is less than it was 12 months ago even though the number of wells in production has doubled. Decline rates is the issue on these small flow wells. Company keeps saying they average 20 to 25 BOPD yet actual results are closer to 10 BOPD.

This should be setting off alarm bells but the crowd just ignore it and have now moved to focussing on high impact wells even though their is no evidence that they will have the required high flow rates to justify the share price.

Drilling results should be available soon so I will wait and see what they are like.