The driver in any commodity stock is firstly the price of the commodity. The deal with Iran and current defusing of ME tension has dragged the price of oil down around $15/barrel. This has quite an impact on the gross margin of the oil sector.
MAD is no exception but my understanding is their breakeven price is around $50/barrel whereas tight oil production around $75/barrel.
Trusting that MAD operational efficiency is trending up and DEC daily oil production will provide an upside surprise to counter oil price fall.
Still - difficult to gain speed running uphill.
FDM Price at posting:
46.5¢ Sentiment: Hold Disclosure: Held
