So MAD at 38c is being valued at its price back in Jan 2012. The...

So MAD at 38c is being valued at its price back in Jan 2012. The Dec2011 quarterly report released 24 Jan 2012 had:
BOPD - 764
Acreage – 9328 (Blue Ridge 1660, Boling 4439, Nash 2740, Edwards 489)
Cash - $9m
1P reserves 28.1mb

Compared to now:
BOPD - approx 1250 (63% increase)
Cash – approx $50m (450% increase)
Acreage – 19808 (Blue Ridge 4591, Boling 4636, Nash 7954, Edwards 2627) (112% increase)
1P reserves - 100mb (RBS pres Dec 2012) 257% increase.

Multiple fairway and HI targets identified, seismic done, rigs bought, GS deal, ramping up.

The market is always right?

The biggest problem is how long MAD have taken to get going with their production program from when it was first announced. Stuffing around in the Het Limestones didnt help, changing the GS initial agreement, delays with Zivley, questionable reserves figures and reporting etc all havn't helped (welcome to the O&G space).

Ironic that finally when MAD seem to be all systems go, the market lost patience. Hopefully those that have sold out will be replaced with new investors who can see the growth trajectory thats underway. Increasing production, success with HI, a new tranche deal with GS, and hopefully the market sees that MAD shouldnt be valued on Dec 2011 figures