Fantastically enlightening that the most vocal poster on this thread doesn't know what the net producing is and also doesn't forecast what the net will be. Worrying about growth in production that doesn't belong to them is just totally irrelevant as it won't result in revenue for them. Gulf South seemed to have farmed into one of the only leases that provides consistent results and probably has a significant chunk of the reserves. Gross production could continues to grow while net production remains flat depending on the relative contribution.
"Royalties? mostly offset by the premium Maverick is getting for it's (sic) oil" - what nonsense. The royalties are at least 25% plus some other interests owned by directors but those are small. Pricing is close to LLS because they go straight to the gulf coast but that is 10-15$/bbl recently not 25$/bbl
Similar story for the reserves, if they still believe those numbers are correct there at least has to be a negative revision/sale associated with the Gulf South farm in.
Despite the "free wells" i.e. sold WI in their only consistent lease they are still running a cash deficit.
In my view this is likely a contraction company.
crucial fact, page-11
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