Ann: May 2011 Monthly Production Report , page-3

Cracker of a result! Much better than the 17,000 BO that I would have otherwise been happy with (see my earlier posts). 20,000 x 100 x 0.75 (revenue interest) = USD 1.5 million revenue, gives MAD the capacity to fund at least 4-5 wells per month (including corporate overheads). A great result. Ultimately, I want MAD to have a safety buffer of cash (to avoid future capital raisings) and sink the rest into development drilling.