Seems that MAD holders are now trying to convince themselves...

Seems that MAD holders are now trying to convince themselves that MAD share price should be much higher. Havent seen any posts yet that put the case for a higher price.

I can certainly put a case for the share price going lower in the next couple of weeks. After that it may bounce or it may not. Depends entirely on production results

But here goes

1. Tax loss selling season is in full swing
2. Investors are leaving the small resources sector in droves
3. High impact is yet to have any success and must be really struggling. Management in the latest announcement have re-defined high impact to include wells which were previously excluded so they can claim "high impact success". This is a very bad sign
4. Low impact production shows sign's of flattening out in the latest graph
5. Gulf will be slow to stump up more money and if MAD wait for the money and dont drill ahead on their own this will cause production to decline and the unprofitability of these small wells will finally be clear to even the untrained eye.
6. The sell recommendation and not wanting their name attached to MAD by a recent newsletter is a clear warning that all is not well at MAD.

Into the 20's this week