annoucement out, page-20

With 1 in 10 POS I think the shorts are being a little freakin' harsh. This means if maverick drill 20 high impacts all may be unsuccessful except no. 19 & no. 20. That is still a 10% success rate but it will take time to achieve that strike rate. If you don't have time then maverick isn't for you because it takes years to build a $1B company. High impacts are the upside X factor that will materially change the company. However it will take time and Don & the other directors wouldn't do anything that isn't worthwhile. They are heavily invested in Maverick too.

I keep reminding myself that at 60c the market is only pricing in the production of 50% of the certified reserves with no value placed on high impact upside potential. That's the value proposition.

We're free carried by gulf on fairways and an announcement that says gulf south has re-signed for more drilling will be good for us.

Production is now trending towards 1500bopd with cash still above $50M. All looking good except for a sideways moving SP.