numbers and tea leaves, page-11

Man, you guys are MAD keen! I am hardly the font of all MAD knowledge but here goes:

F.F – I agree. Even though MAD has only been in existence as a public company for just over 1 year, the people behind it (and the ones doing the drilling) have been drilling the area for decades. They would have a pretty good idea of what is in the ground.

Brick – Yes, the additional 219 net acres acquired in the quarter ended Dec 31 on the Thrall prospect are included in the total 489 acres currently held on Edwards Reef.
Yes, add another 455 acres for Foothold, but it is probably not a production priority at the moment.

Cyber – I can’t specifically answer your questions. Perhaps ask Google? I can relay that the Directors of Maverick have previously estimated that the field development of Boling Dome alone could support in excess of 1,000 new wells and we already know that Maverick now controls the vast majority of productive acreage on Boling Dome.

morningaussie – 2P = Proven plus Probable Reserves (not just probable).

Cmonaussie – Fair enough calling me ambitious at 2,000 BOPD by end of June, but I reckon I won’t be too far off the mark, all going well. Of course, it is just my target – I have no way of knowing. Why don’t you suggest your own target and if you are closer, I will happily buy you a shandy?
As of January 24, 2012 Blue Ridge Dome production had stabilised at around 900 BOPD. Since then, they have drilled more wells (as announced) and the Gordon #549 well announced on Feb 23 is clearly likely to have higher than average flow (and perhaps other wells they drill next to it?). You suggest they might drill 10 more wells between January and June... They drilled 12 wells on Blue Ridge in the Oct-Dec 2012 Quarter alone so I would suggest they could drill 20 – 25 wells between Jan – June 2012. In addition to the new wells they will drill themselves, the leases they recently acquired on Boling Dome came with a number of existing wells (8 I think), albeit relatively low flow. Call me ambitious if you will. Perhaps I have also factored in a sneaky wildcat drill before June.
At the end of the day, I would suggest the reserve upgrades are going to be a more significant driver of the share price than daily production.

Seboya – Even I wouldn't be so bold as to suggest a price target of $2.48 ...... not by June anyway!