Just when I thought things couldnt get anymore...

Just when I thought things couldnt get anymore exciting.......

Make no mistake this is a fantastic outcome for holders. The value created so far today already exceeds the dilution by many many multiples. I supect management saw the fall in shareprice the 2 days prior to the issue and knowing they would shortly need the money to secure Blue ridge acreage pulled the trigger to call a capital raising. I believe this was a very good decision. .

It gives me confidence that the shareholders best interests were at heart due to the fact the management knocked back a significant portion of oversubscriptions and stayed within the neccesary amount of cash needed, many companys would have placed the full 15%, whilst others would have gone for even more. A share now has 7.5% less exposure to MADs assets, in return Blue Ridge acreage has been doubled, development is set to be increased by over 50% and I suspect there will be significantly more acreage that will be acquired with the money, maybe at Boling and Nash?.
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For those concerned about the raising price consider this, at 65c (as opposed to the 60c) a share would only be $0.0037 better off, the risk being had the raising not brought in the required money MAD may not have been in a position to secure Blue ridge acreage. Many of us here believe Blue Ridge is worth upwards of $1per share, if the new acreage is comparable then $1+ps may have been put at risk for the chance of an extra $0.0037 per share. That is an absolute no brainer for me I would take the $1+ps potential any day of the week. The thought of missing out on such a large tract of land, to another entity who may have moved in quickly due to MAD being slow to react would be a tragedy,not only for the acreage missed but also for the morale of those responsible for negotiating the deal ,who will hopefully go on and secure many more quality positions.

When management are creating wealth at such a hectic rate I am very supportive of them raising capital. This is not a lifestyle company that tend to dominate the small cap sector. So far this year we have seen significant success almost on a weekly basis, that success will rub of on the market overtime and should see MAD trade at a premium to its assets.

With significantly increased acreage leading to increased reserves and a significantly ramped up development/exploration program it is highly likely mid sept will see MAD admitted to the ASX200, still expecting/hoping we will be admitted to the ASX300 in 11 days. It is only a matter of time before MAD turns up on some multinational oil companys Radar and they secure a stake. While it is easy to believe MAD has had its rerating due to the almost 3 bagger status, I am not so sure, it seems every time the share price rises to try and catch up with fundamentals it is followed by more company making news and once again the fundamentals surge ahead.

It is looking likely we may see over (slightly or significantly) 150bo 2p in the next 3 months = $2.13bo 2p based on 80c. Based on the numbers I did with MADs peers in Jan that would put us at over an 80%+ discount to the next cheapest. Combined with a market darling status the only way is up...

Having spent too much time following MAD lately it is easy for one to start thinking it is easy to find oil, wrong. Outside of this abnormal company we shelter in it is incredibly difficult, expensive and a more often than not unsuccessful bussiness. You only have to look at the reserves attributed to the very large majority of long term oilers to know that MAD is a special creature.. The team at MAD have a licence to print reserves and there not afraid to use it!!!!! That licence is now destined to include production.

Exciting times!!
Cheers