anybody else watching what i'm watching?, page-28

shab,

I'm not sure you have a point as your entire posting method seems to be all over the place. Please state your point clearly then show facts which back up statements, not just wild statements with a document or ASIC file attached.

Also, You posted a link for bankruptcy in Australia yet the bankruptcy claim was in america. Likely to be the same? nope.

That blue ridge dome report was interesting, but you do know its an entire field, the lease that petrosearch owned was but a fraction of the overall dome. A fraction of what MAD owns now.

If you did the research into the initial find in 1919, you would find that the salt dome was pierced at 2700ft and major oil flows were seen (1200BOPD per well) however they could not in those days get constant success as the cusp of the salt dome was at roughly 2700 ft down:

http://higheredbcs.wiley.com/legacy/college/levin/0471697435/chap_tut/images/nw0294-nn.jpg

In this diagram, the original find is the top one, which is the easiest to drill and will have the most oil pressure to rise as the rock is in plat curve (forcing oil upwards as its the lightest material).

http://www.maverickdrilling.com/blue-ridge-dome-history/.aspx

It says exactly the history here, the wells we are currently drilling are at 4500 ft, based on seismic data (which has fairly innacurate until 2000) to gather the additional oil from around the salt over-hangs.

You can also see, that the salt dome is a large vertical structure which traps oil between plates at several different levels, this can be exploited by drilling further down (based on seismic to pinpoint targets) because oil further down will move faster, and there is likely more down there, why?

Pressure, the pressure is much higher at 10000ft than at 4500ft.

You could make the argument that more pressure means oil is unlikely to be trapped as it would of risen, but this isn't true if the oil is trapped by gipsum layers found in plates surrounding a salt dome.

Your point about being an old discovery is both true and meaningless, as the targets were completely different, the technology has vastly improved and the oil already recovered by MAD is far more than that in the report by petrosearch.

Please DYOR but shabs, I don't find conspiracy theories or 'old texas sayings' more relevant than what is clearly stated by the company. Not to mention, sophisticated investors and brokers surely would of dug up the same dirt as you have yet still gave 50million (and were prepared to give more) to this company.

Underwhelming quarterly aside, this company is making money, has equipment to recover more and funds to progressively ramp up production.