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12:22
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Originally posted by pcaruso
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This announcement is re-assuring in that we can be confident management is being very active in growing the company profitably and sensibly. What this news tells me is that the company believes it is presently commercially advantageous to grow organically (new leases) than by acquisition (read me lip - potential acquisitions are still over-valued in comparison). No complaints from me. Also, the reality is that there is no magic short fix. This is a stock for the patient. The only thing the company can do with sub $40/barrel oil prices is position itself for the eventual recovery of the oil market. If someone was to ask me today for a hot stock tip (3-6 month), MAD would not be that stock, though a marked improvement in the share price in this timeframe may still be possible under the right setting (say from 6c to 11-12c). However, if was I asked for a stock tip with a 5 year horizon, then I would happily recommend MAD for inclusion in a share portfolio because I expect strong returns in this timeframe. MAD is not a stock for a quick buck. Having said that, I certainly understand Spylord's decision (and others) to move on, particularly if the stock was purchased during the heady days of early 2012.
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US rig counts are up in conjunction with the lifted off in oil ban despite the poo is near the history price.
