review of mad, page-9

MAD in its old avatar in 2005 sold Blue ridge dome to finance other project since BRD is not worth some history


HOUSTON, Dec. 20 /PRNewswire-FirstCall/ -- Petrosearch Energy Corporation (BULLETIN BOARD: PTSG) ("Petrosearch" and the "Company") today announced its drilling and capital expenditure plan for several major projects for next year. The plan encompasses total capital expenditures net to the Company of between $15 million and $20 million and includes participation in the drilling of 25 to 30 wells.

Prefacing the 2006 plans, the Company recapped its key achievements in 2005, as the groundwork for future growth:
* Began implementation of new strategic plan designed to maximize Net
Asset Value

* In April 2005 completed $12.6 million of private equity placements to
support exploration and development projects and other corporate
requirements

* Completed re-staffing of senior management and operations team

* Sold a 420-acre leasehold in the Blue Ridge Dome Field in Fort Bend
County, Texas for $2.140 million ($30.16 per proved boe), freeing up
capital for redeployment in exploration projects

* Registration of common stock with SEC became effective, thereby making
us a fully reporting public company

* Purchased an additional 21.25% working interest in the Gruman 18-1
Lodgepole Reef well in North Dakota for $6.67 per proved barrel of oil
equivalent (boe)

* Improved a $10 million credit facility with a financial institution,
extending the facility on more favorable terms to support the
Company's program through 2006 and beyond

* Began completion of an oil well in the Rodney Island Field in Tensas
Parish, Louisiana - with estimated gross proved, probable and possible
reserves in the field of 1,728 Mbo and 1,044 MMcf. of natural gas

* Acquired a 100% working interest in 1,780 acres in the Quinduno Field
in Roberts County, Texas, in the Anadarko Basin

* Started trading on the OTCBB on November 30, 2005

How come now the p1 reserve has increased so much I know the land is big however all this does not add up DYOR