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21/06/15
14:32
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Originally posted by pcaruso
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Agree, Razzo. We're all frustrated. However, we need to understand that MAD's 1st acquisition will be ground breaking - it will either break or make the company and we could be looking at a $1.5-2B changeover and a target that must be profitable at an oil price as low as $40/barrel (though $60 was hinted at the AGM). Important management get it right. I'll make a call - I don't think we'll see the share price go much lower - could drop to low 8's but I expect announcements in terms of lease acquisitions and "the acquisition" in the next 3-4 months. Having said that, I can understand the disappointment expressed by holders who bought at significantly higher prices. I also have empathy with Adriano's comments. I'm sticking with MAD because I genuinely believe they will ultimately deliver. I stress, however, this is not a recommendation to either buy or hold. MAD still fits within my risk management framework and general tolerance to risk. This is the key consideration. MAD is not for the faint hearted and our patience has been well and truly tested.
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Everybody thought that falling oil prices would be a boom for mad. It's turned out to be a disaster. Stable oil prices is what's needed for acquisitions to be successful. Stability is finally being achieved in oil prices