crucial fact, page-86

Everest, I not only read them, I quote your comments word for word. I dont need to re-read them yet again.

I will re-quote you:

"I can point directly to the basis upon which the reserves were calculated. Please feel free to review the IPO prospectus which contains the entire reserve report, Section 8, pages 24 - 58. It can be found on the ASX website and is the first announcement made by MAD, on 15/07/2010. None of the dry wells I am referring to have been factored into the reserves calculations because the reserves calculations I am referring to were made before the dry wells were drilled. That is a fact rather than speculation."

Now you state, and I quote:

"The dry wells I was referring to were drilled in Q3 2012, Q4 2012 and Q1 2013, all of which occurred after the June 2012 reserves restatement. Therefore, to assume that the June 2012 reserves restatement included those dry wells is of course inaccurate."

No wonder its confusing - is that your strategy?

Whenever the dry wells were drilled, and whichever reserves report you are referring to, if you now claim that its the dry wells drilled after the June 2012 reserves upgrade that havent been factored in, and so should result in a downgrade, how do you account for the dry wells that were drilled before the June 2012 reserves upgrade? The reserves upgrade must have factored those in - no? What percentage success rate (producing wells versus dry wells) did the reserve upgrade factor into its calculation - do you know this? If so I would be interested if you could share that calculation from the upgrade report.

And thanks again for pointing to the IPO document - perhaps you could re-read my post - I am quite familiar with it.

Cheers, Sharks.