morgans report of 14/4 on website, page-5

when mad use to issue each wells production history for the month, the production per well on average was around 20 bod. The company however needs the wells to be 25 bod to make it worth while. The problem they had is some of the wells quickly became uneconomic in a few months. There was about 25% of the wells that pretty much carried production. No doubt this would still be the case.

Mads problem is it needs to work over the wells regularly, and at any one point some of the wells are offline because they are awaiting a workover. This is why mad have so many workover machines. These costs is what makes mad burn through the cash, as one cant predict when a workover is required, some are more than others.

As for 10 to 15 like paul mentions. Yes there would be wells pumping like that, but they are ones that have been pumping for years with little or no decline, and no workovers. So they would be profitable. As for saying that the company averages 10 -15 bod, is just fanciful, they average more than that. It would be 20 BOD, Which in the scheme of things, isn't very much per well. But it is what it is. Everybody knows that mads production per well is poor compared to peers