Paul, I’m sure Nellie can stand up for him/herself, but seeing you’d like some examples of your work since last Friday, here’s a few:
1. Of course you havn’t acknowledged your error in stating that the payback per well for MAD would take 2 months, when in fact they are getting $750,000 per month. Oh well your only out by $1.5m, but don’t let that deter your agenda.
2. Your comment on Fridays announcement was “That's enough info to know there wont be many highlights.Looks like the shorters win again. Congratulations to Everest” Really? The only bad news was plugging Groce#185. You must be privy to information denied the rest of us to know that the two West Schenck wells, Zivley, and the Rose and Honeysuckle wells wont have many highlights. Yep, the shorters really went to town mercilessly driving down the share price from Fridays close of 60c to todays close of 59.5c. Everest has stated he has dropped his short position.
3. Today, regarding the JV Gulf deal you state “So all that is happening here is that MAD are giving away future profits if Gulf do well out of the deal or alternatively Gulf are increasing MAD's profit's if Gulf do poorly” No, I don’t think THAT IS ALL THATS HAPPENING. Many posters have voiced their opinions regarding this, its a pity you cant take any of it on board.
“All Gulf provides is money” thats a beautiful quote and if I was younger I’d probably tattoo it on my back.
And thats since Friday as you requested.
The point is this. You promote yourself as a reasoned poster backing up your claims with researched data but your disdain and prejudice against this stock leads you to make erroneous and scaremongering statements worthy of any downramper. Its a pity that all the time you spend here seeking martyrdom isn’t spent researching and contributing to a forum (other than PGI) that your actually interested and considering investing in. At least others like Everest2011 are up front that there here to short the stock. Its an enigma why you post on MAD.
To paraphrase a quote from Jerry Maguire “you lost me at 10c”.
PS. Youve made it clear many times that you don’t believe in the MAD model. I don’t know if you’ve invested in other O&G stocks before, but industry averages for wildcat exploration wells have a 1 in 5 success rate and that usually entails raising $5-$10m for onshore rigs and up to $20m for offshore rigs through bleeding shareholders dry with capital raisings. It’s all a gamble and when it comes up a duster its back to square one. The MAD model of owning your own rigs chasing multiple small targets is attractive in that its not do or die. Lets see if they can continue increasing production.
Good luck with PGI
FDM Price at posting:
59.5¢ Sentiment: Hold Disclosure: Held
