IMO MAD is bubble i know majority here in this forum would say i am a down ramper trying to get a entry sorry but MAD operation model is expensive for a O&G spec given the nature of the reserve small wells the management need to keep the cost low however based on quarterly cost per well is around 500K which IMO is double from what it should have been IMO 150K to 200K per well is reasonable given the guided per well is as low as 25 barrels per day however the quarterly reports showed the actually was 8 to 12 barrels,
that is cost have increased more than 100% however production is decreases by 100% to 200% from planned production.
it is no good having big resources spread over a very large area i would prefer big finds or atleast moderate finds 500 barrels per day per well 10 barrels a day is a joke anyway i think MAD is big bubble it is very clear that bcoz of the spread of resource this whole operation is not going to be commercial success IMO
the guide of 25 barrels per pell with cost of 500K per well is insane IMO also with a MC of 500 Million MAD production 600 barrels from score of wellssssss
MAD biggest asset is SALT DOME and reserve is subject to biggest question mark the geological study is done by some competent person IMO which is big NO NO in O&G spec. IMO MAD is has characteristic of hotcopper hype and is big bubble in my view which will burst soon.
FDM Price at posting:
$1.28 Sentiment: None Disclosure: Not Held
