agree with metric valuation ... looks cheap. c.$1/boe (2P)...

agree with metric valuation ... looks cheap. c.$1/boe (2P) compared with say a WPL at over $20 (with no upside due to no Pluto T2 gas - but i should save that for another thread ... sorry i love a dig at Voelte's POS)

i am new to this thread so haven't read back through posts - so my question is are MAD fields a case of "reserves aren't necessarily reserves" due to complex geology?

Of course the certification process takes into account recoverability AND ECONOMICS so reserves are reserves ... but is the market shying away from a complex play?

I appreciate a discount for more complex geology but investors need to remember that the easy stuff is gone and production technologies are always improving...

The drilling business could also be struggling due to no new gas drilling in the US with natural gas now sub $3, but it costs nothing to stack a rig (put it in the yard)... so i am not concerned about this unless they paid too much for the rigs.

Any info appreciated.