FDM 0.00% 1.1¢ freedom oil and gas ltd

renewing the faith on mad

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    I just went over the March quarterly report again to "renew" my conviction in holding on to MAD. Its only been a month and I already forgot what was in it. Holding onto a stock is a bit like religious belief, you've got to renew your faith by reading the bible (reread announcements, continual research) and consolidating with other believers such as going to church (reading and interacting on Forums such as HC). Faith wears thin in the face of adversity ( dwindling share price). Only the faithful hangs on.
    Such is the age of instant gratification, a few months without anns the sp seems to drift to oblivion.
    So here are some stuff to "keep the faith":

    * MAD are stepping up their drilling campaign. If they continue with their original plan and keep drilling more "piddly" wells, at a reasonable rate of say 100 wells/year we can reasonably expect our production rate to increase close to 2,000 bopd per year. That's enough reason for me to hold on for many years.
    * But going by the last report management have changed their plan, they are going for the bigger fish. When they first posted the map of the new lease on BR dome I remember some were a little disappointed that they were a fair way from the dome. At the time I thought that was the only leases left for them to grab. However, there's meaning in that madness, going by their excitement "something" in the technicals have prompted them to grab the leases surrounding the dome. They have not given us a map of the new Nash leases, but "in and around" indicates the same. They believe that BR and Nash domes are "considerably" larger than previously thought. Then there's "considerable additional acreage" still being negotiated on Boling.
    * We have the reserve, and plenty more to come, but the holy grail will be the production rate. Any successes with the deeper " high impact drilling" on the new leases will see us reaching that holy grail much quicker IMO.
    And with higher flow rates comes bigger ADDITIONAL reserves. Going by management " It is for the above reasons that management remains excited and optimistic about Maverick's future. This is an unprecedented level of expansion and aggressive growth for Maverick in it's 39 years history".
    Can't wait til Christmas. I promised my family if MAD ever reach $3.00 I will take them for a tour of the Texas salt domes. Hope the wait won't be too long !
 
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