valuation on upgrade resource?, page-6

And the other thing is, can Mad keep proving up new acreage?
Highly probable IMO. They are not participating in the big auctioning and huge prices for acreage of say eagleford shale and the like.

Mad are proving up their reserves at a fraction of the cost that their competitors are doing it for. This is a massive advantage for share price re-ratings in the future. I firmly beleive this stock has a long way to go yet.