I think I've gone MAD., page-30

Well done Red Baron a great summary of the US situation. Following on from this most of the US E&P 's have over time accumulated these leases and regularly pay owner royalties. The owners call it mailbox money when they get there cheque and its not small change. You will see each of the websites for Devon Energy, Anadarko etc have a owner relations section.

All this said oil price under pressure, real oversupply evident. All this said I am increasingly of the view that this leasing programme they mention is not small..........Why after all this time would they be considering a minor opportunity?

Re the comments from the other contributor. Don and Brad Simmons are former directors of Maverick and have no association now - at all. Both left this business in 2013. Titan seeks out Salt Dome opportunities yes, Maverick is moving from this conventional focus to un-conventional technology intensive opportunities.

Back to the leasing programme - remain optimistic, I am hoping that another player has a large parcel of leased country to sell the development rights for. This is exacting the job Mike Mckenna was employed to comb thru.

Good luck - getting older.....