Managements excellent approach to steadily building up low cost productive wells from current cashflow wont set the world on fire in a hurry, but I like it because it is a controlled, strategic and very easily understandable approach that has historically been very successful for the company, and will continue to do be so in the future.
With the Price of oil going up, MAD creating more wells, acquiring more rigs, and building its production base will lead inevitably to solid re-ratings and SP increases.
As other posters have commented. Its not IF but when.
Time and patience will tell. If the Market closed down and re-opened in a years time or 5 years time, I would still be happy to hold MAD. The fundamentals of this business are too good to ignore and with such opportunities of future growth, IMHO its a no brainer.
GL to all holders. Ive been in it from the start and wont be exiting anytime soon.
FDM Price at posting:
98.5¢ Sentiment: Buy Disclosure: Held
