qtr ann oyt, page-16

I personally really liked the announcement.

I dont really understand all the negativity. Management have stated again and again in the last 2 quarters field development has taken a back seat while more testing take place.

awhile back i remember them saying they were going full steam ahead but then they changed tak. i think gulf south have been sniffing around for a long time and management have decided to stall development and continue testing the outer band of the fairway which is extremely useful information and should help prevent dry holes being drilled.

Something i noticed aswell they said that production is stable @ 700bopd currently with 1/3 of wells i believe they have drilled around 100 so thats 21bopd per well bang on target!

Ive tried to sit back and see the negatives people are pointing out but for me since buying @ 39c gulf Souths interest has cleared any doubts i had. looking at the FACTS the numbers are adding up and i think well be in for a nice surprise only this deal is finalized and we start serious drilling!

Ive said it before but i think maverick is one of the few company that is prepared to sacrifice short term gain for the long term.
Good luck all.