why are?, page-29

Neilie,

why do you assume "Reserves are unproven"?

In fact its quite the opposite. Despite all the points which may be valid from MAD opposition.. this one is the most idiotic to me.

There is an Oil and Gas code which specifies how reserves are calculated and methodologies which are proven for different reserve categories (1P, 2P etc). MAD has had their reserves independently analysed to get their 1P reserve rating and yet some forum junkie says its not reliable and people believe them?

Ridiculous.

Reserves are there. Recoverability is there (as defined by the reserves).

The question is not whether or not they are there, but how much it costs to develop.