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MAD - MADER GROUP LIMITED


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A recent announcement said that insto's had an agreement to put 82m director held fpo's in escrow until 31/1/2013 as part of the last capital raising. Me thinks that the insto's know roughly how many shares the directors will sell and have been shorting for when they place those director held fpo's? Only a week to go now
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Will be interesting to see the quarterly next week as well. From the TRRC, they havent been drilling a lot of wells the last six months and production has dropped below 500bopd.

 

Will wait a bit longer to buy back in once start to see them making a bit more progress. They certainly have enough reserves, just need to see them get that production up. May get a bit of news about that in the quarterly.

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