multi bagger this year, page-30

Good report. no surprises.

While other oil companys spend there time bragging about how many millions of barrels they are going to produce before they have even found an oil field MAD just quietly get out there and do the job.

Certainly looks like things are going to ramp up this quarter with development costs almost doubling. They must expect production to be up significantly as well due to an almost doubling in production costs.I expect around 20 wells to be drilled for the quarter, they are also in a position to start targeting the more productive areas which in turn should see a stronger rise in production.

$1mil cash flow positive for operations combined with a significant rise in production gives the company room to move this quarter. I believe they would have no problems securing a debt facility which would allow them to ramp up the project faster.
Cheers