morgans report of 14/4 on website, page-57

Paul by saying the oil reserves of mad are zero, really undermines your argument. Mad would have no doubt plenty of current wells which are uneconomic and plenty of wells that are economic. Every oil and gas well is different. This is like me saying that pgi's gold production plant that cant recover more than 60% is worthless, when in reality, even if the plant is a failure, the individual parts of the plant are worth something, even if its only scrape value.