I assume that a person who is short MAD at 62 cents playing it down to 30 cents is not that different to to the person who bought it at $1.20 expecting it to go to $2. Focussed pessimism vs focussed hope.
If the only part of the MAD story was the low yield bread and butter wells per your comments on the Gulf South capital raising then you are betting on slower than forecast growth in production which could happen or not. You can take a view on that.
Obviously, to continue short you have to believe that the high impact well program is also a dud for if MAD hit some higher flow wells the story turns quickly.
I cannot believe that many people outside MAD have a realistic take on this program and as these wells are drilled are just rolling the dice.
FDM Price at posting:
61.5¢ Sentiment: Hold Disclosure: Held
