mad on fire, page-8

Sleek,

In my opinion, no.

This stock has a reputation for under-promising and over-delivering. However, a lot of brokers have ramped hard this last week (not the companies fault) so we could indeed see that effect.

however, the common consensus is.. after nash and boling upgraded, all 6 rigs now in use (drilling) and 8 (workover) this stock easily will be worth (maybe not valued) at $2 or 850-900mil market cap..

if this recent well does produce high flows.. (100BOPD+) and nash reserves are large (10mil BO+ 1p) then this could be in for a serious re-rate.

My personal bet for the upcoming announcement: 6-7 mbo 1p. 20-25mbo 2p. Well choked flow of 80-120BOPD stabilised.

The main thing holding MAD back now, is its huge Price to earnings ratio because it has huge assets (oil) but isn't producing them fast enough.

if production could be double/tripled prior to end 2012.. yearly earnings forecast (for FY-2012/2013) could be up to the 50-60 million mark (drastically reducing PE (down to 15-18 or so).

Personally I also think we are in for a green day tomorrow as buyers are out-numbering sellers at 4:1 and thats the MAD magical ratio of a green day.