I think Maverick told us that they are capable of drilling 150 wells with current drill rigs and cash flow (pre-CR) but failed to actually do it. The potnetial of such a massive drilling campaign was built into the share price which is multiples of where it was at beginning of calander year. Then yesterday they did the CR so that they can actually try and drill around 100 wells per year.
My query is whether we were told of potential number of wells that was never really possible at the time. Because a lot of the SP increase from January 2012 was based on this potential and now we face dilution. Am I right or wrong?
FDM Price at posting:
$1.18 Sentiment: Buy Disclosure: Held
