tea leaves

Guestimates for new value for MAD, anyone?

If you extrapolate the current 1P and 2P barrels per acre to the acreage not yet included in the count, you get a total of 188.1 million barrels of 1P and 372.0 million barrels of 2P. At the $/acre/reserves/bopd prices paid for Linc back in October, that works out to $1.79 or $3.27 per share for MAD.

Using *current* 2P reserves (192.2 million), acreage (~15500 acres) and production rate (800 bopd, my guestimate for last month), you get just under $1.70 per share when comparing to Linc - for what it's worth, that's what I now consider fair value for the company... completely ignoring the ridiculous potential we have over the next few years!

- seboya