We have seen a great few weeks as fellow MADers. The catalyst...

We have seen a great few weeks as fellow MADers.

The catalyst was the exit from the ASX200 as shorting became that much harder from that point & it was no longer an easy target from the index funds.

The steady rise from 31c to a high of 50.5c & a small pull-back (on tiny volume) to 46c is boding well for a sustained longer-term rally.

IMO next week we will clear the 50c resistance and be on our way to the next 'line in the sand' which looks to be 61.5c

The quarterly / drilling report should reinforce the 'slow & steady' approach the company is taking. We should see the average production increase by c. 100bopd taking us to c. 1650 bopd. We are creeping towards that huge re-rate level of 2000bopd and should get there over the next 3/4 months.

Along the way, me may get additional 'kickers' by way of high-impact results or additional farm-in money from GS Investors considering the 1st program was hugely successful for those investors.

The 'kickers' are simply a bonus & we are not relying on them for a sustainable, profitable, growing company.

WTI trading at yearly highs and AUD at yearly lows also helps our cause as we are currently receiving approx. AUD135 per barrel of oil (US 107 + US 15 premium due to quality, AUD 90c)

The further along the daily production journey we travel, the more of a T/O target we become as the model is proved to be successful and we are trading at a significant discount to global peers (due to low "BOPD / 1P reserves" ratio).

All IMO & please DYOR.

Looking forward to the weeks ahead as the $1.495 high over 12 months ago was a 'false start' for the company & this time around we are in a much better position.