chart - one for the watchlist, page-28

My point Nando is that no director is likely to spend $1.3m of his own money just to pump up the share price. Must reflect strong confidence in the company's future. Take care. An aside. I suspect production is probably around 1,700 bod at present, with an average price around $US103-104 or almost $A120 per barrel. Equates to quarterly revenue of around $A16.5-17m. We should note cash flow lags revenue because MAD does not receive the cash for sales until the following month - 30 day lag from when the revenue is recognised. I expect they should be at least cash flow neutral this quarter.