If you bother to do any research then you'll understand that O&G...

If you bother to do any research then you'll understand that O&G companies have various valuations; mainly on production or reserves. Now that we have been based on reserves it's time for the production to catch up to the fair value on the assets, which we are currently trading at a discount to (many use Linc's acquisition of 1P / 2P reserves since it is relevant. If you would like further proof of valuation on reserves - use Buru Energy for example; $810m market cap and from the quarterly from 29/10 it states their revenue is a mere $2.7m with outflows of $23.3m. So based on your logic, that particular stock must be "incredibly" overvalued based on production. However it seems that you ignore asset value and focus on production only. I do believe production needs to catch up relative to reserves in order for the share price to move but i completely DISAGREE with your opinion on how MAD is overvalued. With 42% acreage still needing to be assigned reserves, I will place my sentiment as a Buy - This is my opinion and everyone DYOR