Morgan's has a 60 cent valuation.
Most of the 60 cents comes as a result of this assumption
"We currently value MAD utilising a DCF, assuming a well profile for the Frio wells of ~20bopd and ~6 pay zones per well and the production of 62mmbbls of oil"
History shows that ave 20bopd cannot be achieved.
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- morgans report of 14/4 on website
morgans report of 14/4 on website, page-2
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Currently unlisted public company.