1p reserves double to 102 million barrels, page-47

Paul100,

A couple of 200-500 BOPD wells might change your mind?.

Oh and buy the way, MAD don't need to raise any more money if they don't want to as they are cash-flow positive and own all their own rigs - which are now drilling 100% for themselves.

Undoubtedly they will raise more money in the future to ramp up production quickly but this is a choice - not a necessity.

If you are trying to value MAD purely on current P/E then I suggest you go and buy some Telstra or BHP instead as you just don't seem to get it. Have a little foresight and you will see MAD is currently trading at massive discounts on all fronts - including future P/E.