I think that any sane person would agree that 6 months of data is enough to define a trend.
The trend is showing an average 21% monthly increase in production, even taking into account the minor back-step in December.
Taking this data, should the trend continue as is, logistics allowing - production from development wells will be 12622 bopd in 12 months time. Of course there is no denying that logistical issues from ramping up need to be overcome. However it is worth bearing in mind that MAD has a $50m war-chest, funding from Gulf and adding extra rigs monthly. If they decided to increase their rig count significantly, then watch out about, as MAD is proving the oil is more and more oil is flowing.
Of course I do not expect exponential increases in production. However, the figures don't lie and at the very least provide food for thought especially considering high-impact well success hasn't been taken into account.
FDM Price at posting:
64.0¢ Sentiment: Buy Disclosure: Held
