lets focus on q1 2013, page-43

fantale i havent been confusing. If you just like at current production, the value of mad is under 20 cents, that doesnt take into account, cash, drilling machine, cost of acerage, no contract drilling profit, nothing - just production.

The fairest value i can use is 30 cents that takes into account everything.

on a pe basis of 17 times earnings of $6m mad is worth 22 cents.

Everything points to the shares continuing to fall. I recon the shares will overshoot fair value, it always happens, thats when people need to load up and buy, and where people can make some quick cash.

People say im downram, i am not, i point out the risks and rewards of mad. We all buy shares to make money, the best way is to stay displined, and stick to your criteria for value, dont buy because of hope, or its fallen enough already, or its going up, lets buy. Understand the stocks you are going to buy. People pay brokers for reasearch like mine, you guys are lucky, fantale, paul100 and pieces and me are giving you guys some good quality reasearch and experience. Im not saying everything we write is correct, far from it, but the arguement we have put up, has in the main been fair and accurate

The mad thread has been one of the most robust discussion on hotcopper, thats a credit to all that have contributed. In the main, it hasnt been personal, but stuck on facts and figures, and announcments. Well done all.

Mad will not drop for ever. What people need to do, is work out entry points for themselves, taking into accont the THREE P's - profit, production, potential

DYOR