Here are my issues with announcement. 5 high impact wells...

Here are my issues with announcement.

5 high impact wells producing around 300 BOPD between them. Sounds fantastic to me.

However the production graph at the bottom shows production at around 1250 BOPD so what gives.

Recently I have 300 BOPD from High impact
I have 550 BOPD from the Gulf JV

And yet the total is only 1250.

If MAD was not publishing the the graph I would be certain production was now over 1500 BOPD

So here lies the perpetual problem with MAD. The new wells are always great but it never gets reflected in the total.

And If wanted to support my previous view I detect that the Growth in Production is starting to flatten out. This is disturbing because I dont expect production to flatten until Dec qtr

At the end of the day the only number that matters is the BOPD number. If this number does not get over 2000 BOPD before christmas then the stock is still overvalued.

Does not look good to me.