fantale, as well as the reserves, I think if you calculate the rate of oil at which MAD's peers are producing along with the margin of each barrel of oil then it would be a fairer comparison of market caps. just reserves would not do justice to MAD's peers whom are trading at $16/BBL
for example, AUT's market cap is around $1.5bil, they have net 50million 1P reserves but are producing at net 13,000boepd, im not sure on their margins but it's a good start for comparison
MAD will re-rate as it de-risks and moves towards solid production
money now is always better than money later.
FDM Price at posting:
61.5¢ Sentiment: LT Buy Disclosure: Held
