Exactly pmunt...they are cheap not even considering the imminent development.
My one concern still is reserves. We have cashflow, but we don't have big reserves. Ironically, MAD have huge reserves but turning that to cashflow will take an eternity (my opinion) and as such they are undervalued on a reserve only basis.
A few more wells like the last (I'd love another steady 50bopd well) will kick things along nicely, as will Florence developments as you already said.
Ann: Quarterly Activities Report , page-4
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