Ann: December 2014 Quarterly Report, page-5

We've yet to see the impact on the bottom line from lower oil prices. Revenue next quarter will be <$5M based on unchanged production and WTI at US44-45/barrel. But as I've said before, MAD is now about the pending "acquisition". The rest is noise. There was nothing surprising (or exciting or disappointing) about the quarterly report. It read as it should. p.s MAD has enough cash to see it through till about Sept 2016 (assuming oil prices remain at present levels). You would expect a major acquisition be then. Also, I don't care if the acquisition is delayed b/c if oil prices continue to fall, today's bargains (potential acquisition targets) will be even greater bargains tomorrow. No-one knows where oil prices are headed but any rebound is unlikely to happen anytime soon & there is still scope for lower prices in the short term. Yes, it's frustrating to watch but if yeager gets it right re the acquisition target, then MAD should be a long term winner (I'm talking 3-5 years from now). Patience will required, that's for sure.