Things are about to get pretty exciting.......Previously they have been treading very quietly to avoid a rush on their preffered acreage, but now with the majority locked up I expect MAD are about to put the peddle to the floor. Looking forward to the next presentation which
I expect to accompany the raising..
With so many high impact targets, down to depths of around 16,000ft the chances of achieveing significant flow rates from these high pressure drills is very good..The salt overhangs in particular excite me, and while MAD dont have rigs capable of drilling to these depths the wells will still come in incredibly cheap as we can drill the 2/3 at low cost and then bring in outside companys to drill to total depth...
The current raising will allow MAD to drive shareholder value in the months/years ahead, I suspect there will be more acreage to come. Being fully cashed up will put them in a strong position when they are included in the ASX300 in around 8weeks when institutional buying should really drive the shareprice higher, I expect the current raising will be strongly oversubscribed and likely include a number of institutions getting on the books.....
200mmbo 2p ..$2bil market cap sounds about right!!
Happy days!!!
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