confirmation, page-40

Paul, if you said "at least 1/3 of the small wells are no good" thenyou would have some credibility with your argument against the small well production rates & curves, but instead you choose to say the "small wells are no good". Period.

How is it do you think that MAD are producing 1000+ bopd currently? Are they buying the oil from the local petrol station?

I do happen to think there is a proportion of MAD's acreage that is non-productive, as witnessed by the rate at which they are plugging new wells (1 in 3), or by the production rates from the different leases (the bulk coming from 4 out of the 17 leases).

However given they must have at least 80 small wells drilled by now, if you said 1/3 were plugged (and it could be higher), then they are producing 1000+ bopd from 54 wells or about 18 bopd each - i.e. the oils not coming from a petrol station.

And as far as the Gulf South deal, you still do not seem to appreciate the value of a free-carried position in these wells.

Cheers, Sharks.