crucial fact, page-66

Everest,

This continues to keep coming up. Of the wells they drilled in Sept and Dec-

"
Experimental evaluation of new formations and high impact reserves have been a recent
priority alongside meeting all properties drilling commitments. "

They also state that two wells: Rice#317 and Lee#921 were both testing het-lime formations which were unsuccessful. Not in fairway and NOT part of the proven reserve.

December:

"Maverick has renewed its focus on the Miocene, Frio and
Vicksburg oil sands across its Blue Ridge, Boling and Nash Dome fields after consuming a
substantial amount of its drilling rig, workover rig, geology and operational capacity on
the Het limestone formations across Boling Dome and Nash Dome in the September and
December 2012 quarters."

"Maverick has also been testing outer limits of the fairway in anticipation of beginning full
scale mid fairway development in the Joint Development project. Evaluation of the upper "

Of these two points, Zivley #170 and and Rice #299 were both Hetlime tests and West Schenk #602, #118R (active despite being outside) and #138 were not in the bounds in the proven reserves (outer fringe of the fairaway).

This brings the total to:

Sept - 2 of 9 unsuccessful (22%)
Dec - 1 of 10 Unsuccessful (10%)
March - 2 of 24 unsuccesful (8.33%)

Total; 5/43 = ~11.6%

So as you can see, you are grossly mis-interpreting data and calling the management liars.... Perhaps you need to read quarterlies, not just the tables provided.