# FDM - Freedom Oil and Gas



## Chief Wigam (17 July 2010)

For those interested, there is a float happening , ASX stock code MAD at 20c.

The RBS Morgans low side valuation is A$0.55/share and high side valuation is A$1.03/share.

I have attached this report.

Cheers


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## Chief Wigam (15 August 2010)

*Re: MAD - Maverick Drilling & Exploration IPO*

For those following this stock, RBS Morgans have allocated the $10 million of stock. The float was for $5 million but due to the level of interest, $10 million has been raised.

Augurs well for 1st Sept listing.


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## Kremmen (10 September 2010)

*Re: MAD - Maverick Drilling & Exploration*

After listing at a small premium, it's settled back to the issue price. Time will tell which way it will go.


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## Chief Wigam (12 September 2010)

*Re: MAD - Maverick Drilling & Exploration*

I think it looks good. the amount of detail they have made public is impressive. We estimate that each well they drill will make about $500-600k (net present value). this is using slightly more conservative numbers than the ones they have provided.


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## Chief Wigam (12 September 2010)

*Re: MAD - Maverick Drilling & Exploration*

Regarding the Blue Ridge income, this is what Morgans have been advising the public:

Executive Summary 


Blue Ridge 

• 
We have taken a DCF valuation approach to Blue Ridge and Maverick Drilling future income, and a 
valuation metric approach to their exploration prospects 
• 
Our valuation summary for Maverick Drilling & Exploration is in the table below: 

High Low 
110 353.6 35 112.3 Total 
0-1.3 0-1.3 Cost of Float 
-1 -3.1 -1 -3.1 Convertible Note Interest 
515.0 515.0 Funds Being Raised 
411.7 00.0 Thrall 
25.8 00.0 Foothold 
Exploration 
69 197.7 00.0 Blue Ridge -Probable Reserves 
31 99.3 31 99.3 Base Business @1P Reserves 
cps A$m cps A$m 
• Our low side valuation is A$0.35/share and high side valuation is A$1.10/share. 
3


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## Synergy (12 September 2010)

*Re: MAD - Maverick Drilling & Exploration*

Risk:Reward from a fundamental view certainly looks good for this one.

I'll be looking for it to stay above its float/listing price of 20c in the short term. Theoretically if the IPO was oversubscribed and there's been no bad news, there should be people keen to get in at 20c and people extremely keen to get in at anything less.

The low side valuation of 35c looks to be quite conservative too.


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## Kremmen (14 September 2010)

*Re: MAD - Maverick Drilling & Exploration*



Synergy said:


> Theoretically if the IPO was oversubscribed and there's been no bad news, there should be people keen to get in at 20c and people extremely keen to get in at anything less.




There are always those who bought into the float simply to make whatever stag profit they can in as short a time as possible. Once they go away, we'll get some idea of how the market really values the stock.


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## Kremmen (21 September 2010)

*Re: MAD - Maverick Drilling & Exploration*

Sellers have sunk away, now outnumbered over 3:1 by buyers. Large buy orders at 20c and above, and we're seeing gradual movement up.


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## profitmann (22 September 2010)

*Re: MAD - Maverick Drilling & Exploration*

Fundamental exploration hard facts lacking. No Australian Management /CEO. All hinging on a worn out oil field in Texas......plenty of hype - but no SP kick....Go figure....I think the gulible speculator is leaving this one alone for the time being. Better plays elsewhere me thinks!!


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## Chief Wigam (24 September 2010)

*Re: MAD - Maverick Drilling & Exploration*

That's a strange post. Lee Clarke is Director and is Australian.

The first 10 wells they drilled in this Texas oil field all found oil, done earlier this year.

This company actually makes money and has a senior management team who know the oil business.


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## Chief Wigam (24 October 2010)

*Re: MAD - Maverick Drilling & Exploration*

Had a read of the report.

drilled 2 wells, started drilling a third. this is good, they are moving ahead, not like a lot of companies that keep saying they will drill but never do.

a workover rig has been delivered to their lease - this is good too, moving ahead.

produced on average 251 bopd for the quarter - this is good to hear

The good thing is they are starting to do what they said they would do.

The best thing about this company is they actually make money rather than be purely exploration and just burn cash like thosands of other companies. Fairly low risk business model.


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## Chief Wigam (14 November 2010)

*Re: MAD - Maverick Drilling & Exploration*

Article "Maverick Drilling, the way of the future. Don't let it slip under your radar!" in OIL and GAS Weekly 7 November 2010 web site: www.oilers.com.au

Recently listed Maverick Drilling was higher up from $0.16 to $0.20, its IPO price. RBS Capital put out a research note on MAD on 4 November with a target price of $0.35 by the end of FY 11 based on MAD's 1P oil reserves. We visited with MAD CEO Brad Simmons in Houston this week and received a briefing on their activities at the Blue Ridge Salt Dome and upcoming drilling program at the recently acquired Boling Salt Dome. We visited the field. We came away extremely impressed and will be doing our own research piece for OGW subscribers on return to Australia. We didn't realise there were no spacing requirement s on a salt dome. MAD could drill another 600 production wells on its 1,000 plus acres at Blue Ridge. Where quite literally it is like shooting fish in a barrel. And most times you can spear several fish (sands) on the one pass. It really is quite extraordinary. And if you haven't ever seen a Walker-Neer top drive drilling rig get on the net and look them up. We have never seen a more efficient, safer piece of drilling equipment on an oil field. They make conventional rotary rigs a thing of the past. MAD owns three of them. This is clearly a stock to have on one‟s watch list. And if you have time check out its disclosure document.

One correction in the above is that MAD has 4 walker-Neer drilling rigs, not 3.


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## ParleVouFrancois (15 November 2010)

*Re: MAD - Maverick Drilling & Exploration*

Hi Chief the bopd seem a bit low, but perhaps it's due to a different geological structure of a "salt dome"? I have little to zero knowledge of oil geology, perhaps you can help a bit?

Do you know why the flow rates are so low when compared to say SEA or AUT's flow rates from wells (in the hundreds per day from the Eagle Ford shale). Is shale more efficient, or do the wells MAD are drilling cost less, basically what am I missing that's made you so confident on the stock.

Thanks!


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## harlon_123 (6 December 2010)

*Re: MAD - Maverick Drilling & Exploration*

seems to be an awfull lot of shares under  the 20c starting price from the word go


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## Chief Wigam (19 December 2010)

*Re: MAD - Maverick Drilling & Exploration*

this should answer some recent questions on this thread:

_Article excerpt from OIL and GAS weekly, page 2_
Newly listed Maverick Oil and Gas released their November drilling report this past week. The report contained detailed information on each of the nine wells drilled since its September listing in an easily readable format emphasising what it had achieved and delivered not promises of future gains. 

Five of the new wells are oil producers, four have been completed for production. 

Maverick sold 9,162 barrels of oil in November up 25% on October’s sales. That represents over 300 bopd, all from wells on the company’s more than 850 acres of a previously produced salt dome just outside of Houston, Texas. The area is called the Blue Ridge Salt Dome. 

With its own modern top drive drilling rigs (two in operation two being prepared for work in 2011) and its own service rigs, Maverick’s cost to drill and complete a well to an average depth of 4,000 to 5,000 feet is remarkably low, around US$200,000 per well. 

Each producing well and there are now some 20 of them, intersected multiple zones while drilling. So wells are completed in the lower most zones first and when that is produced they move up the hole to the next sand. Wells are choked back to an average of 25 barrels of oil a day though many are capable of more than that. But tweaking them back is good oil field practice and preserves the life of the well. 

Payback is generally less than six months per well. 

Maverick has independently certified 2P reserves of 25.6 million barrels at Blue Ridge where there is at least another 400 wells to be drilled. Fifty of those should be drilled in the first 12 months post IPO. And it is already on track to achieve, possibly exceed, those numbers. 

There is no spacing requirement on the Dome. Maverick determines its own locations based on its assessment of the optimal position for field production. 

So the company will drill a lot of wells in 2011 virtually all them guaranteed to be producers of quality premium priced light oil. Lifting costs are just $2.00 a barrel as against $22 a barrel in the Cooper Basin. Maverick has 100% working interest in Blue Ridge which is going to throw off huge revenues. 

It also recently acquired 1,625 net acres in a second Texas salt dome at Boling where it expects to duplicate what it is doing at Blue Ridge. 

The shares have held up reasonably well since listing particularly given there is a potential overhang of 30 to 40 million shares in institutions that acquired cheap shares prior to the listing. Trojan Equity has apparently been one seller of the stock since the IPO. That plus the fact that unlike some of its Aussie peers in the US, the company provides a monthly drilling report not share price influencing media releases well by well. 

The company has a fair few shares on issue for a newly listed entity partly explained by the conversion of convertible notes into equity. It has an outstanding liability of US$7 million in the form of promissory notes owing to its Chairman Don Heinrich for the purchase of assets that went into Maverick. And a $5,000,000 loan facility for further asset acquisition.


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## adds4 (6 January 2011)

*Re: MAD - Maverick Drilling & Exploration*

December monthly figures are out, 11,716, or around 400 barrels a day. The company in my eyes would be cashflow positive now. Having drilled already 12 wells and have 6 of them on production since sept, the companies is in a good position to increase production substantially next month as well, once all wells are tested.


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## adds4 (7 January 2011)

*Re: MAD - Maverick Drilling & Exploration*

A rerating is on the cards, production profile soon is going to be hard to ignore. A roadshow from the company wouldnt be bad now


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## adds4 (9 January 2011)

*Re: MAD - Maverick Drilling & Exploration*

trojan equity only has another 7m shares left to sell, they have sold already 15m in the last couple of months, and the share price has still managed to rise. Might have to buy some more off them. Trojan will be finished selling in the next month or so, so the ipo overhang is gone, and the shares will be rerated to the production and exporation profile. Get in while you can folks


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## sismek70 (9 January 2011)

*Re: MAD - Maverick Drilling & Exploration*

I agree with you Adds, found this gem under the radar, I will be buying some!


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## robusta (9 January 2011)

*Re: MAD - Maverick Drilling & Exploration*

323 million shares on issue, book value about $19 million gives me equity per share of a bit over $0.05 per share. Does anyone have any numbers on projected production and costs?


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## rcm617 (9 January 2011)

*Re: MAD - Maverick Drilling & Exploration*



sismek70 said:


> I agree with you Adds, found this gem under the radar, I will be buying some!




Might have to hurry, friday felt like the sellers are starting to dry up.
 Flow rates are lower than eagleford shale wells but well costs are only $200,000 compared to approx $8million for eagleford shale wells, so economics stack up very well.


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## adds4 (10 January 2011)

*Re: MAD - Maverick Drilling & Exploration*

In the december production announcment, they talked about weather could be a factor. So far the weather has been excellent, just a cool 15 - 20 each day for next two weeks is the forcast, with some rain days. No mention of snow or anything like that.

On another note, i think the rerating has arrived early, been some strong trading days lately, with some good volume


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## adds4 (10 January 2011)

*Re: MAD - Maverick Drilling & Exploration*

no sellers around anymore. Come on trojan put some more shares for sale for people, the sell side is getting a bit thin


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## rcm617 (10 January 2011)

*Re: MAD - Maverick Drilling & Exploration*

A few sellers appeared when the price started going up, but they got snapped up pretty quickly. My bet would be most will be held for much higher prices later in the year. Should be on a few more watchlists after today.


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## reagenzium (11 January 2011)

*Re: MAD - Maverick Drilling & Exploration*

Just discovered this thread by the middle of the last week. Looks promising. Hope I am not too late for the party. Good luck to all who passed the door yet.


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## adds4 (11 January 2011)

*Re: MAD - Maverick Drilling & Exploration*

I dont think you are late, this is still undervalued to its performance upto date. Which small oil stock, has upped production by 100% 6 months after listing. Tell me which was even pumping any oil after 6 months. The only real risk factor is the oil price with this one. Very professional outfit. Directors have alot in the company, so they want to get it right, and they follow the proven method of slow and steady. No high production numbers, to trick people. They manage the wells conservative, so they get long production periods, not 6 months of high production, and then not much, work the well over and hammer it again, and do it over and over again. If it can be done at blue ridge, it can be done at boiling, that is the beaty of this stock. Mad can make, borderline economic fields, into highly profitable ones.


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## adds4 (13 January 2011)

*Re: MAD - Maverick Drilling & Exploration*

Oil has hit $92 a barrel, and with the bulls controlling the market it could start heading to $100. At around about 500 bod (likely january production), every $1 rise in oil price puts in $182,500 in the bank after a yr. With production climbing every month this figure rises, at th companies target of 2000bod,  by the end of 2011, every $1 rise in oil price puts in $730,000 in the bank after a yr.

So with rising production and a rising oil price, my valuations for mad just keep on improving. Still the most undervalued oil stock on the market, even with this small rise


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## Bermuda (13 January 2011)

*Re: MAD - Maverick Drilling & Exploration*

Maverick has also caught the eye of both Oil and Gas Weekly and RBS Morgans. Google both reports. Their 2P reserves alone are worth 96 cents with more to come. And the top 20 shareholders own over 50% of the company.

Nice and solid with production increasing by 75 bopd per month. Hold for long term appreciation.


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## adds4 (13 January 2011)

*Re: MAD - Maverick Drilling & Exploration*

very strong buy side now. Chances of a pull back are slim now. More than likely mad is going start its second leg up now. Its in the shakeout stage at the moment


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## adds4 (16 January 2011)

*Re: MAD - Maverick Drilling & Exploration*

Alot of bullish commentary about the price of oil. Thats excellent for mads cash flows, just going to make it harder to get some cheap acerage. Lucky there is plenty of acerage in the portfolio already anyway

With the drilling part of the company, i bet they must be fielding alot of enquires for contract drilling.


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## donteatme (16 January 2011)

*Re: MAD - Maverick Drilling & Exploration*

Hope I'm not too late to the party! Gonna try and get in on Monday, here's hoping it won't open higher!


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## adds4 (17 January 2011)

*Re: MAD - Maverick Drilling & Exploration*

i dont think you are to late. By 30 june the risk profile of mad will be nearly nil, as they will be cash flow positive, and most likely drillling in two oil fields (or in the process of organising two feilds). Its a great business plan, hopefully management and staff can pull it off.


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## Dinipants (19 January 2011)

*Re: MAD - Maverick Drilling & Exploration*

Topped up today. Thanks to Chief Wigam and others for bringing this stock to attention!  .


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## donteatme (27 January 2011)

*Re: MAD - Maverick Drilling & Exploration*

Great, I buy in just as it starts falling. Bought in at 0.28c


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## adds4 (28 January 2011)

*Re: MAD - Maverick Drilling & Exploration*

after reading the quarterly. I have worked out why they are going through the cash fast, the oil price they get is like $53 for quarter. The oil sales in january they got $60. Have they hedged the price for a while?


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## donteatme (28 January 2011)

*Re: MAD - Maverick Drilling & Exploration*



adds4 said:


> after reading the quarterly. I have worked out why they are going through the cash fast, the oil price they get is like $53 for quarter. The oil sales in january they got $60. Have they hedged the price for a while?




Yeah, I noticed that too while reading the report. Is there any reason for the low price? Oil is said to rise quite significantly and MAD should stand to benefit well.


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## tothemax6 (29 January 2011)

*Re: MAD - Maverick Drilling & Exploration*



adds4 said:


> after reading the quarterly. I have worked out why they are going through the cash fast, the oil price they get is like $53 for quarter. The oil sales in january they got $60. Have they hedged the price for a while?



Also read the quarterly. They do seem to be burning through cash rather fast for an exploration company that has actually started to produce. I really don't have much experience to compare against though, maybe this is a normal rate. 
Info: http://www.maverickdrilling.com/index.html


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## donteatme (15 February 2011)

*Re: MAD - Maverick Drilling & Exploration*

Trading halt. Capital raising around the corner.


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## Chief Wigam (16 February 2011)

*Re: MAD - Maverick Drilling & Exploration*

Adds and Doneat me,
I had the same question about the oil price a while ago. Then I found out the answer from company secretary.

Refer to section 4.3 of the prospectus.  While Maverick has between 90% and 100% working interest in the oil leases on Blue Ridge Dome, they have only between 66.5% and 75% net revenue interest.  The net revenue interest is the amount remaining after the royalty percentage has been paid to the land/royalty owner.  As such, the amount you have calculated is the net revenue interest amount and would need to be gross up to arrive at the actual average oil price.

I am still holding my entire original parcel and don't intend to sell any time in the next couple of months.


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## donteatme (17 February 2011)

*Re: MAD - Maverick Drilling & Exploration*



Chief Wigam said:


> Adds and Doneat me,
> I had the same question about the oil price a while ago. Then I found out the answer from company secretary.
> 
> Refer to section 4.3 of the prospectus.  While Maverick has between 90% and 100% working interest in the oil leases on Blue Ridge Dome, they have only between 66.5% and 75% net revenue interest.  The net revenue interest is the amount remaining after the royalty percentage has been paid to the land/royalty owner.  As such, the amount you have calculated is the net revenue interest amount and would need to be gross up to arrive at the actual average oil price.
> ...




I see, thanks for the clarification.

I believe they have some knowledgeable management that know what they're doing, also holding for the long run as I think this capital raising will have a negative effect on the SP short-term.


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## adds4 (19 February 2011)

*Re: MAD - Maverick Drilling & Exploration*

thanks for clearing up the oil price for me chief.

I think the capital raising is a possible move, although it is before i would have liked. My time table would have been in april some time. But they are going through the cash pretty fast because they are drilling quicker than they expected too, and that now they are going to be developing two fields instead of one. You arent going to die wondering with mad. When they set up a drilling problem, they go for it at 110%. If only other oil stocks on the market had the same engery and drive, instead of promising stuff and constantly behind


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## adds4 (19 February 2011)

*Re: MAD - Maverick Drilling & Exploration*

anybody got an idea on how much they want to raise from the spp. By guess would be a couple of million. How many shareholders would there be?

whats the chances of getting the whole spp amount of $15k worth or 71,428 shares?


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## stockjunkie (15 March 2011)

*Re: MAD - Maverick Drilling & Exploration*

first post.

bought into this stock today @ 20cents

in for a winner.


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## adds4 (22 March 2011)

*Re: MAD - Maverick Drilling & Exploration*

med term you should do well. The next four months upto june/ july will be an interesting time, hopefully they can keep up with the tough schedule. Think the last two months was that flat period drillers gets. Cant go flat out for the whole yr.


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## adds4 (1 April 2011)

*Re: MAD - Maverick Drilling & Exploration*

the march drilling report comes out next week. Need to show the market the feild is flowing over 400 bod, otherwise the share price will continue to fall. But if positive news flows, toghether with the uplft from last months production numbers, confidence should return to the stock, and mad should return to the 20's again and continue the slow climb

Trojan equity is going to unload the remaining shareholding of 7m shares in may as well, as thats when they come out of escrow. Theres your buying opportunity in may too, saving up for that one


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## adds4 (11 April 2011)

*Re: MAD - Maverick Drilling & Exploration*

good production numbers in march with 430 per day. With the oil price being so high, should help the company become cash flow positive very quick. Need to get another three wells on line this month. Hopefully one of those is a 50 bod well


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## rcm617 (9 May 2011)

*Re: MAD - Maverick Drilling & Exploration*



adds4 said:


> good production numbers in march with 430 per day. With the oil price being so high, should help the company become cash flow positive very quick. Need to get another three wells on line this month. Hopefully one of those is a 50 bod well




Looks like we got 3 new wells with production over 50bopd in the april drilling report. No production report till later this month but if you add the totals of the wells adds up to 608 bopd.
If we get a similar lift next month should definately be cashflow positive next quarter.


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## muppet (8 June 2011)

*Re: MAD - Maverick Drilling & Exploration*

not long now until we will see some good sp movement .
need to wait out the completion of tjn sell off.
good time to be aquiring atm imo.


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## rcm617 (20 June 2011)

*Re: MAD - Maverick Drilling & Exploration*



muppet said:


> not long now until we will see some good sp movement .
> need to wait out the completion of tjn sell off.
> good time to be aquiring atm imo.




Looks like TJN have finally completed their selloff and the shareprice might start catching up with production. Going on this months production we should be very close to fully funding all drilling and expenses from production and any further increases will be building up cash reserves.
Plenty of upside in this once they start drilling Bolling Dome and some of the bigger targets in Edwards Reef and Foothold.


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## adds4 (21 June 2011)

*Re: MAD - Maverick Drilling & Exploration*

been some good volume the last week, with the share price slowly rising. Not long for all to wait until mad are self funding with the drilling. Our second oil field development shouldnt be that far away


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## rcm617 (22 June 2011)

*Re: MAD - Maverick Drilling & Exploration*



adds4 said:


> been some good volume the last week, with the share price slowly rising. Not long for all to wait until mad are self funding with the drilling. Our second oil field development shouldnt be that far away




Starting to get up a head of steam. Once it gets over the 22c mark, shouldnt take it long to get back up to the 29c mark it was at in January, after all it is now producing double what it was then.


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## adds4 (22 June 2011)

*Re: MAD - Maverick Drilling & Exploration*



rcm617 said:


> Starting to get up a head of steam. Once it gets over the 22c mark, shouldnt take it long to get back up to the 29c mark it was at in January, after all it is now producing double what it was then.





With trojan out of the way, you will find now the share price will head north to what it should have been. Everybody knew about trojan, and so one thinks maybe people held off a bit until the trojan shares had been all sold, and now are buying because they know there should be no share price pressure anymore. Just a thought.

Production numbers are looking good at the moment. Hopefully this yr, they can get the production up to the 1000 bod mark. That would give the company some serious cash to play with to drill boiling dome.

Can really see this company getting to 50 cents by yrs end, if everything goes to plan


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## muppet (27 June 2011)

*Re: MAD - Maverick Drilling & Exploration*

things will get very interesting around the next drilling & production reports.
IMO i think mad will hit 750 -780 BOPD and be cashflow + .
this will make some insto's sit up and take notice.
the management keep powering ahead and hitting or exceeding there mark each and every time.
once they have the cashflow things will be very interesting to see how fast MAD will grow . 
production is the key not reserves in the ground!

 sit back and enjoy the ride.


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## suhm (28 June 2011)

*Re: MAD - Maverick Drilling & Exploration*

think i missed the boat to get back on this, trading halt for reserve upgrade.


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## Sdajii (28 June 2011)

*Re: MAD - Maverick Drilling & Exploration*



suhm said:


> think i missed the boat to get back on this, trading halt for reserve upgrade.




I hope you're right  I just jumped on the boat last week at 22.5c. I saw the trading halt and thought "Oh no! Capital raising!" then had the pleasant surprise of reading 'reserves upgrade'. Awesome  Glad to have joined the MADmen when I did


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## adds4 (28 June 2011)

*Re: MAD - Maverick Drilling & Exploration*

Reserve upgrade, production increasing, most probably drilling boiling dome soon. Blue sky if you ask me. People will be talking about how could you buy this stock in the 20's in the not to distant future


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## ParleVouFrancois (28 June 2011)

*Re: MAD - Maverick Drilling & Exploration*

Sdajii to be honest I had the same fear, but instead VERY pleasant news. RBS Morgans had the 1P reserves valued at 55 cents, based on the 800 acres that MAD listed with, sure we've had an ~20% dilution from the capital raising done a while back, but now we have 4000 acres or so (an increase of 3200, or 400%). If 1P reserves even JUST double, that's like 80-90 cents, given that it's a 400% increase in acerage, if the report is for the entire lot, I'd highly doubt only just double the reserves. Desperately trying to find something wrong with MAD, but I keep drawing blanks. Largest holding I currently have and extremely comfortable about it!

JM.


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## adds4 (28 June 2011)

*Re: MAD - Maverick Drilling & Exploration*

I would think the reserves upgrades are only for the orginal acerage. I would think they would have doubled the 1p to 16m barrels, and increased the 2p to around 30m barrels. 30 cents anybody on open?


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## basilio (29 June 2011)

*Re: MAD - Maverick Drilling & Exploration*

It will be interesting and exciting to see how the reserves upgrades go.

Now will it be enough to create a huge sustained flurry in this terrified, dying dog of a market ?  We'll see.  But at least it means the longer term value of MAD is looking even better.


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## rcm617 (29 June 2011)

*Re: MAD - Maverick Drilling & Exploration*

Massive upgrade of reserves to 12.4 mmb for 1P and 52.4 mmb for 2P, and thats only Blue Ridge Dome.  
Hope I can get a few more in the 20's.


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## adds4 (4 July 2011)

*Re: MAD - Maverick Drilling & Exploration*



rcm617 said:


> Massive upgrade of reserves to 12.4 mmb for 1P and 52.4 mmb for 2P, and thats only Blue Ridge Dome.
> Hope I can get a few more in the 20's.




I have been a buyer lately, with production increasing, and reserves upgraded, the rerating will come very soon


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## adds4 (4 July 2011)

*Re: MAD - Maverick Drilling & Exploration*

maverick hve expanded to nash dome now. Going to be drilled by nov 2011. Wow these guys are really moving along. They keep just ticking the right boxes


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## suhm (4 July 2011)

*Re: MAD - Maverick Drilling & Exploration*

I just wanted them to drill more holes instead of buying more land, that is why I sold, wanted for them to be cashflow positive, they are getting there but had to do a cap raise in the interim


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## rcm617 (4 July 2011)

*Re: MAD - Maverick Drilling & Exploration*

They had an internal loan set aside for land acquisitions, so this shouldnt eat into their drilling activity. Maybe their reasoning is that with the results they are getting, land on these salt domes wont be cheap for much longer.
We'll have the June drilling report out this week which will give us a pretty good idea of whether they will be cash flow positive this month. Only need about a 15 to 20% increase to do so.


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## Sdajii (4 July 2011)

*Re: MAD - Maverick Drilling & Exploration*

I think the term 'rerating' gets thrown around far too much and is often misused, deliberately or otherwise, but this may actually be an example of it being used properly.

I doubled my holding last week and might buy more this week depending on how things go with market response and my available funds.

I didn't see a price of the acquisition in this morning's announcement though. Did I miss it? Does anyone know what they paid and what the production is likely to be, even rough ballparks of possibilities?

Good luck to all the MADmen


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## adds4 (4 July 2011)

*Re: MAD - Maverick Drilling & Exploration*

They paid bugger all for acerage, thats why they didnt release the price. Interesting to note Midway college. Has bought some acerage in nash dome, and are going to sink a well down. They recon the well should get out about 250,000 barrels of oil in a couple of yrs. The well cost is 950k and running costs are $4k a month and the pay back time will be one yr. Just shows how low cost mad really are


----------



## Sdajii (4 July 2011)

*Re: MAD - Maverick Drilling & Exploration*



adds4 said:


> They paid bugger all for acerage, thats why they didnt release the price. Interesting to note Midway college. Has bought some acerage in nash dome, and are going to sink a well down. They recon the well should get out about 250,000 barrels of oil in a couple of yrs. The well cost is 950k and running costs are $4k a month and the pay back time will be one yr. Just shows how low cost mad really are




Those figures can't be right, can they? 

$1M in costs for over $20M in oil in two years would make the payback time about a month rather than a year.

Even if the cost of the acquisition was 'bugger all' I'd like to know what it was.


----------



## adds4 (4 July 2011)

*Re: MAD - Maverick Drilling & Exploration*



Sdajii said:


> Those figures can't be right, can they?
> 
> $1M in costs for over $20M in oil in two years would make the payback time about a month rather than a year.
> 
> Even if the cost of the acquisition was 'bugger all' I'd like to know what it was.




They dont need to tell you the price because its immaterial to the company, and most probaby they will buy more acerage, so why advertise it, so competitors make mad pay more next time?. I said a couple of yrs, not 2 yrs. Do yourself a favour and read it your self. I do the hard work in finding the information, and you give me grief. The url is 

www.energia-tejas.com/.../Nash_Midway_College_1_Project_reduced.pdf

Explain the report to all of us now. Dont forget i want to know why and how the bank of amercia is going to fund the well for the college. Since you seem to know everything, explain it to everybody.

and next time at least say thankyou. Think its time you sold and let other people own the stock. I know a hell of a lot more about this field but cant be bothered posting now. Work it out yourself


----------



## Sdajii (4 July 2011)

*Re: MAD - Maverick Drilling & Exploration*

Wow. 

I'm not sure how you managed to interpret any of my post as an attack or 'grief', but for what it's worth, it was nothing like that and I hope this post isn't interpreted that way either.

"A couple" means "two", or colloquially it can mean "approximately two" in some contexts, but it doesn't mean the same as "several" or "many" or "an undefined number"

Assuming you did mean two when you said something that meant two, I thought you must have made a typo, and if you wanted to share the information in the first place you'd want to share it correctly.

Obviously everyone appreciates information being shared, myself as much as anyone else.

Have a great day, try not to be that nasty to the other people you deal with, and remember that not everyone is trying to give you a hard time 

Thanks for the link, I'll have a read.


----------



## adds4 (4 July 2011)

*Re: MAD - Maverick Drilling & Exploration*



Sdajii said:


> Wow.
> 
> I'm not sure how you managed to interpret any of my post as an attack or 'grief', but for what it's worth, it was nothing like that and I hope this post isn't interpreted that way either.
> 
> ...





How many barrels a day are they expecting from the wells. You asked the question from everybody. Read the report it will tell you. Enlighten all of us. I know what it is. Next time dont come out with statements like that. Do some reaserch if you own a stock.


----------



## Sdajii (4 July 2011)

*Re: MAD - Maverick Drilling & Exploration*

I don't know who stuck that hair up your ****, but I hope you manage to get it out and feel better. Either way, I don't see any reason to respond to you again. Enjoy your day


----------



## adds4 (4 July 2011)

*Re: MAD - Maverick Drilling & Exploration*



Sdajii said:


> I don't know who stuck that hair up your ****, but I hope you manage to get it out and feel better. Either way, I don't see any reason to respond to you again. Enjoy your day





what has pissed me off, is the announcemnt clearly states that maverick has bought the field because it is a "low risk leases in proven oil fields similar to blue ridge and boiling oil field". Too me that means they expect to the wells to produce about 25 bod for a FEW years. Which the report clearly states, otherwise bank amercia wouldnt be lending money for the uni project. They are not lying. Would you like mamangement to write up an essay for you for the next announcment? Or next time are you going to do some reaserch, and not shoot from the hip. Especially when the field is nash dome, one of the most written about fields in Texas. Even if they want to hide stuff people when find it out

Oh i have found that hair too, its out...LOL


----------



## ParleVouFrancois (4 July 2011)

*Re: MAD - Maverick Drilling & Exploration*

Lol calm down you two, no idea how you began flaming each other but it's unneeded. Imo MAD would have paid for the acerage via a nice royalty, e.g. 20-25% royalty (happy to be proven otherwise, and that MAD picked up the acreage for 100k and no royalty!). It's a nice acquisition on a third salt dome and does nothing but increase the value of MAD. With operating costs of a few dollars per barrel, and high ROE, right now royalty based acquisition is the right way to go. No sense in getting all leveraged up right now to buy acerage given that MAD still has to hit cashflow positive (which it already is if development costs stop, soon we'll be cashflow positive for 2 wells per month, and then soon enough 3 wells, etc etc!). Holding a bunch of these bad boys and completely comfortable.

JM.


----------



## adds4 (10 July 2011)

*Re: MAD - Maverick Drilling & Exploration*

680 bod for the drilling report. Looks like the production report will come out around the 670 mark. An improvement on last month, but production growth slowing down a little this month

Are these guys going to buy another rig? Would be nice if the director that bought the old manufacturing plant give the company the $700k, or do we have to wait the three yrs?  That money could be used to buy or make more rigs?


----------



## adds4 (18 July 2011)

*Re: MAD - Maverick Drilling & Exploration*

688 bod is not bad, they are trending up nicely every month. By the end of the yr, amd should be around 1000 bod on blue ridge, if they leave the drilling rigs in place


----------



## ob1kinobi (19 July 2011)

*Re: MAD - Maverick Drilling & Exploration*

What's with the .23 price support? 

I was sure MAD was going to be beneath it at the close, but what do you know its bobbed back up again.

I'm anticipating some sort of break.

We've had lower highs and stubborn support at 0.23 for round three weeks now


----------



## adds4 (25 July 2011)

*Re: MAD - Maverick Drilling & Exploration*

profitable now. yeepee

The quarterly showed how much they spent on acquiring new acerage, it was 66k. Peanuts. Why do people have such a fixation in knowing how much MAD spent on aquiring salt dome acerage. Seems to be unmaterial to me.


----------



## adds4 (26 July 2011)

*Re: MAD - Maverick Drilling & Exploration*



adds4 said:


> profitable now. yeepee
> 
> The quarterly showed how much they spent on acquiring new acerage, it was 66k. Peanuts. Why do people have such a fixation in knowing how much MAD spent on aquiring salt dome acerage. Seems to be unmaterial to me.




Sdajii have they spent to much aquiring nash dome? Why would they have to release the acquiring cost, when mad most probably got the money from petty cash anyway? Show some faith my friend.


----------



## Sdajii (26 July 2011)

*Re: MAD - Maverick Drilling & Exploration*

Oh for Pete's sake, stop being silly. It was silly enough you wanted to squabble ages ago, are you not over it?

I never said I thought they spent too much. I never said I was upset, I hold, I hold happily, that never faltered.

See post #71 and apply it indefinitely.


----------



## ParleVouFrancois (26 July 2011)

*Re: MAD - Maverick Drilling & Exploration*

Adds4 check the loan facility from Texoz, debt of 650k or so, related to acquisitions of acerage, and as per their agreement with Texoz when the 5 milly loan facility was created, Texoz gets a 2% ORRI and interest on the loan.

Don't show faith in MAD, just do the research. Mon dieu.

JM.


----------



## adds4 (27 July 2011)

*Re: MAD - Maverick Drilling & Exploration*



ParleVouFrancois said:


> Adds4 check the loan facility from Texoz, debt of 650k or so, related to acquisitions of acerage, and as per their agreement with Texoz when the 5 milly loan facility was created, Texoz gets a 2% ORRI and interest on the loan.
> 
> Don't show faith in MAD, just do the research. Mon dieu.
> 
> JM.





You will find, that is the money they have paid for all the other acerage they have aquired in previous quarters. $700k for about 2.5 oil feilds is pretty cheap in my eyes. My advice would be too buy more. The only concern with this company is not what they pay for acerage or drilling costs, but what they pay management to run the company. $5m for a board per yr is extremely high, but sometimes you have to pay big$ to get good people. No one will question this, if the company is growing really fast.


----------



## Chief Wigam (3 August 2011)

*Re: MAD - Maverick Drilling & Exploration*

http://www.smh.com.au/business/one-madcheap-stock-on-our-radar-20110801-1i7yt.html
Here is an article in yesterday’s Sydney Morning Herald and Melbourne Age regarding Maverick:
*One Madcheap stock*


----------



## ParleVouFrancois (10 August 2011)

*Re: MAD - Maverick Drilling & Exploration*

Nice announcement out today regarding the Blue Ridge dome and another oil field discovery.

JM.


----------



## adds4 (11 August 2011)

*Re: MAD - Maverick Drilling & Exploration*

These guys just tick the right boxes. They are not happy to just drill some wells, and get them onto production. They are willing to go outside what they know about the field and look for more oil columns. These new oil plays will add reserves, and more importantly they look like they will flow around the 60 Bod mark, which is more than the budgeted 25 bod from each well. Well done to staff and mangement


----------



## adds4 (18 August 2011)

*Re: MAD - Maverick Drilling & Exploration*

when is mad starting to drill the other domes. Wouldnt be long?


----------



## ParleVouFrancois (18 August 2011)

*Re: MAD - Maverick Drilling & Exploration*

Nash is due to start in November as per the acquiring contract. The others appear to be up to the discretion of management, I'd hope they keep drilling up the Blue Ridge until they get cashflow positive, no sense in wildcatting when you don't have the cashflows.


----------



## adds4 (11 September 2011)

*Re: MAD - Maverick Drilling & Exploration*

dont think we will get individual well flow rates for the blue ridge field anymore, as they differ from monthly production. And once nash and boiling dome start, the information needed will not be as great. Once the company is cashflow positive, all we need to know as investors is the total barrels produced each much, and an exact revenue stream the company earnt, and the price recieved for each barrel of oil for the month


----------



## boff (12 September 2011)

*Re: MAD - Maverick Drilling & Exploration*



adds4 said:


> Once the company is cashflow positive, all we need to know as investors is the total barrels produced each much, and an exact revenue stream the company earnt, and the price recieved for each barrel of oil for the month




True, but also as an investor I have appreciated the transparency and lack of BS from this outfit, the monthly reports being a case in point. They engender trust which in this day and age is a rare and valuable thing.


----------



## adds4 (12 September 2011)

*Re: MAD - Maverick Drilling & Exploration*



boff said:


> True, but also as an investor I have appreciated the transparency and lack of BS from this outfit, the monthly reports being a case in point. They engender trust which in this day and age is a rare and valuable thing.




The company will fall into line with other oil peers, and give us not much information. Lets face it, as investors all we really need to know each month, are what the new wells are called, what production, oil plays. The key each month will be how many barrels are produced and what revenue the company earnt.


----------



## adds4 (16 September 2011)

*Re: MAD - Maverick Drilling & Exploration*

the company has fallen into line with other oil producers like predicted. The 685 bod result was extremely poor. In 5 months the company increased oil production by 170 bod, the last three months production has not increased at all. What makes it worse is the execuses have started to come out. Next month will be one yr since production began. The number of wells that should have been drilled was 50, i think the mad will be 15 down on that. On 50 wells mad was expecting production of 1250 bod. Lift your game. Stop the execuses. My patience is running a bit thin now

As an investor i want to know if any more drilling rigs are going to be built for nash and boiling domes, because if mad are going to use the ones from blue ridge, there will be more delays and more lost drilling time in the moves


----------



## adds4 (19 September 2011)

*Re: MAD - Maverick Drilling & Exploration*

Dont even know why they have two reports now. Waste of time. Should just wait until the 16 - 19 every month and just give us one full report on production and wells drilled and workovered


----------



## adds4 (21 September 2011)

*Re: MAD - Maverick Drilling & Exploration*

Share price looks like its going to hit the teens again. Seems fair considering the poor production reports the last three months. Definately not over delivering now. More like over promising. This company should have been cashflow positive months ago. The drilling rate of wells is poor considering how many drilling and workover rigs there are, like 9 of them.  I expect at least 5 wells drilled and workovered next month, otherwise managment arent fair dinkum about cash flow, and production increases. Looks like natural decline is killing any production from new wells. Time to up the drilling rate.


----------



## adds4 (23 September 2011)

*Re: MAD - Maverick Drilling & Exploration*

Almost like the perfect storm for the company. Low production and low oil prices = increased cash burn. What could have been. Might have to tap the market again soon, if things dont improve.


----------



## tothemax6 (1 October 2011)

*Re: MAD - Maverick Drilling & Exploration*



adds4 said:


> Share price looks like its going to hit the teens again. Seems fair considering the poor production reports the last three months. Definately not over delivering now. More like over promising. This company should have been cashflow positive months ago. The drilling rate of wells is poor considering how many drilling and workover rigs there are, like 9 of them.  I expect at least 5 wells drilled and workovered next month, otherwise managment arent fair dinkum about cash flow, and production increases. Looks like natural decline is killing any production from new wells. Time to up the drilling rate.



Exactly what I feared when I was examining this stock early in the year. From the reports the wells haven't looked rather weak and often petered out quickly. It's like they're trying to scape water out of a tap. As I recall they are drilling an old field.


----------



## adds4 (11 October 2011)

*Re: MAD - Maverick Drilling & Exploration*

finally some good news starting to flow. Mad are getting $10 more per barrel of oil. Thats means the Api of the oil must be high 30 - 40. The extra revenue each month now will help in making the company cash flow positive. Will add like 600k to revenue each quarter (2.4m per yr). All we need now is the oil production to start increasing again, and the oil price to start to edge up (now is the worst time of the yr for the oil price - lowest demand period)


----------



## adds4 (15 October 2011)

*Re: MAD - Maverick Drilling & Exploration*

i recon the oil production report will be over 700 this month. More closer to 750 to 800 i recon because they have three new wells on line. Find out on monday


----------



## adds4 (19 October 2011)

*Re: MAD - Maverick Drilling & Exploration*

good to see oil production has increased to 737 bod. Now all the company needs to do is increase the rate of drilling, cos the workover teams have caught up with all the outstanding workovers. Time to used some of the cash at bank and make a couple more drilling rigs. 

Wonder when is the santa rosa seismic is happening. Company has said it would start around now? Would be good if the company told us, if its started, how is it going and when they expect the results. Looks like the seismic will give us another upgrade in prospective resources


----------



## adds4 (21 October 2011)

*Re: MAD - Maverick Drilling & Exploration*

cash flow positive. A very good result. Production at blue ridge dome was constant during the quarter. The real surpise for me is the cash generation the drilling division has earnt for the quarter of 990k sales and profit of 670k profit. For a drilling company that is exceptional. So the company not only has ramped up blue ridge production and drilling this yr, but has increased the contract drilling division significantly. Two good profit drivers now.


----------



## adds4 (21 November 2011)

*Re: MAD - Maverick Drilling & Exploration*

October drilling report has come out, with the production at 716. This slight fall from september is expected, because the company only drilled two wells in october. The last two months has resulted in two wells, in the lee section being abondoned. If these had been productive wells, then production would have increased significantly. Its safe to say the company will not be drilling any more wells in the lee section, any time soon

The extra $10 the company gets for its oil, really has an effect on cashflow. This month alone , it brought in over $125k of extra revenue


----------



## rcm617 (13 January 2012)

*Re: MAD - Maverick Drilling & Exploration*

Finally getting a bit of traction. After a new rig starting up in November have touched on 1000bopd up from 704 average in november. Wont be the average yet for December but with another rig starting up this month, will be above the 1000 mark in 2012 and accelerating rapidly.
A 127% increase in P1 reserves in Blue Ridge alone, with more to come from Nash Dome and Boling Dome later in the year.
Bit slow to get started in 2011, but should be a good 2012.


----------



## vas77d (19 January 2012)

*Re: MAD - Maverick Drilling & Exploration*

Seems like share price has jumped over last few days. Where is this stock going?


----------



## ParleVouFrancois (19 January 2012)

*Re: MAD - Maverick Drilling & Exploration*

It's going into the future!!!!!!!!!!!!!!!


----------



## rcm617 (19 January 2012)

*Re: MAD - Maverick Drilling & Exploration*

2011 from 331bopd in January to 706 in November and my guess would be 800+ in December with 2 drilling rigs partly being used for contract drilling.
2012 with 4 rigs drilling my guess would be 2000+ by the end of the year.
Has seemed a little up and down over last year, but they have made solid progress and are now able to step up the drilling covered by cashflow.
The wells should produce for 15 years on average with 4 workovers to get all layers producing. There are over 400 drill locations in their original Blue Ridge acreage alone, let alone the new acreage acquired.
One of the safest oiler in the market by my reckoning.


----------



## rcm617 (23 January 2012)

*Re: MAD - Maverick Drilling & Exploration*

Up another 18% today, with huge volume.
Looks like Boling Dome has got plenty of oil with a very successful first well, and with more than double the net acreage, should result in some great reserve upgrades down the track.
They've done some contract drilling on Nash, so I would presume they know a bit about the oil down there. Its half the acreage again compared to Blue Ridge.
Should be plenty of newsflow over the rest of this financial year to keep it moving upward.


----------



## vas77d (25 January 2012)

*Re: MAD - Maverick Drilling & Exploration*

Can this stock go to $1 or $2?


----------



## rcm617 (25 January 2012)

*Re: MAD - Maverick Drilling & Exploration*

If they can maintain the momentum with their drilling they have shown over the last 2 months for an extended period of time, they should have no trouble getting there. And with the extra rigs starting up and the extra cashflow to cover the cost of that drilling, they should keep up that momentum.
They certainly have plenty of oil reserves and drill sites to justify a much higher market cap.


----------



## vas77d (25 January 2012)

*Re: MAD - Maverick Drilling & Exploration*

this company seems undervalued. It could pull back now. It's had a good couple of weeks.


----------



## suhm (25 January 2012)

*Re: MAD - Maverick Drilling & Exploration*

seems like the reason production levels weren't increasing was because they moved the rigs to go drill the other dome. Hopefully it fills the gap so I can get back on board after reporting season when I can rationalise my positions.


----------



## basilio (27 January 2012)

*Re: MAD - Maverick Drilling & Exploration*

The buyers have certainly got their ears pinned back at the moment. Currently  42c ,  up 16% on the day and practically doubled in a couple of weeks. (Just hope the day traders don't push it down gain - but I suspect longterm buyers will keep pushing this share.)

Good to see some good news finally recognised.


----------



## rcm617 (27 January 2012)

*Re: MAD - Maverick Drilling & Exploration*

Thought this would be a good month for MAD, but didnt expect it to be this good.
Even with the increase in price we've still just passed the $2 market cap per barrel of P2 reserve so still got plenty of room to move.
Still plenty of good news to come with results of their speeded up drilling campaign and  reserve announcements for Boling and Nash Domes.


----------



## vas77d (30 January 2012)

*Re: MAD - Maverick Drilling & Exploration*

This is great news.


----------



## oldblue (30 January 2012)

*Re: MAD - Maverick Drilling & Exploration*



vas77d said:


> This is great news.




So what news is that?

The last announcement that I can find is last Wednesday's.


----------



## Chasero (30 January 2012)

*Re: MAD - Maverick Drilling & Exploration*

so they keep discovering oil? Such a huge jump.. grats to holders


----------



## vas77d (1 February 2012)

*Re: MAD - Maverick Drilling & Exploration*

big day for Maverick today. Anyone know why this is the case?


----------



## rcm617 (1 February 2012)

*Re: MAD - Maverick Drilling & Exploration*

Still undervalued on a P2 reserve basis. Market Cap per P2 bo is $2.65,even after the increase over the last month, whereas most oilers are priced at over $10 per bo.
Thats before any reserves to be added from Nash and Boling Dome, where they have had success with their first wells.


----------



## Bonk (1 February 2012)

*Re: MAD - Maverick Drilling & Exploration*

Apparently , a prominent oiler commentator has said that although the production future is not that impressive for valuating this company [probably over-valued for now .], the reserves are really impressive and will increase at a rapid rate after independent verification is completed . He recons that MAD is very lucky with the reserves in quantity and quality.  Oilers are not valued generally on reserves , more on the fundamentals of producing .

The commentator says it is all about risk! , so if you are brave go for the ride ???? it could be wild .

Don't hold MAD ,  missed the boat whilst look at it for months ...


----------



## basilio (9 February 2012)

*Re: MAD - Maverick Drilling & Exploration*

Another big push on MAD this morning. Reached 58c.

The January report should be out imminently and it will be interesting to see the effects of the Nash and Boling Dome wells on the production.  Maybe this jump is a positive indicator .

Will also be interesting to see  how quickly they ramp up drilling with the extra rigs.


----------



## basilio (13 February 2012)

*Re: MAD - Maverick Drilling & Exploration*

MAD is still bolting. Currently .675.  There must be some very happy day traders around. 

It will be interesting to see how a clear eyed analysis of the stock stands up to the current craze. As I see it if the management decide to invest in a few more drills and crews to ramp up production the real results will be exceptional.


----------



## rcm617 (13 February 2012)

*Re: MAD - Maverick Drilling & Exploration*

Certainly made up for its inertia in 2011. The fourth drill rig should be starting up about now so should get another ramp up in production from march onwards. Happy to hold this for the longterm.


----------



## basilio (14 February 2012)

*Re: MAD - Maverick Drilling & Exploration*

MAD is still running hard.  Came across an excellent analysis of the stock which offers a very compelling current and future picture. Look down to the entry for Saturday 28th Jan. 

http://www.jochimaker.com/


----------



## 3134316 (14 February 2012)

*Re: MAD - Maverick Drilling & Exploration*



basilio said:


> MAD is still running hard.  Came across an excellent analysis of the stock which offers a very compelling current and future picture. Look down to the entry for Saturday 28th Jan.
> 
> http://www.jochimaker.com/




So is today's quick change DOWN today a reaction post-asx querying why stock holders are paying so much (see mad.asx announcements)?

Does anyone foresee and improvement to the downturn today? Can't find another obvious reason...


----------



## oldblue (14 February 2012)

*Re: MAD - Maverick Drilling & Exploration*

Nothing climbs in a straight line and MAD's has been too rapid not to take a correction somewhere. But the fundamentals remain, MAD is still attractive in terms of the pricing of 2P reserves with frequent drill results due in the next few months and I would expect that a recovery wouldn't be too far away.


----------



## basilio (14 February 2012)

*Re: MAD - Maverick Drilling & Exploration*

It has been a meteoric rise in the past few days. I think a correction like today might shake up some of the day traders who must have been making a mint this week and were hoping for a continuation.


----------



## Tyler Durden (14 February 2012)

*Re: MAD - Maverick Drilling & Exploration*

My guess last night was that there would be a retrace, but when I saw this morning that it hit low 80's, I thought I was wrong. I was tempted to buy in at that price, but luckily I didn't, because it did retrace


----------



## ParleVouFrancois (15 February 2012)

*Re: MAD - Maverick Drilling & Exploration*

This price action is absolutely crazy. Current price requires the assumption that management will increase production from approx 1000 bopd to 2000 bopd by the end of the year with about an average of 1500 bopd for each day for the entire year. This is just valuing it purely on production and not the crazy reserves. Based off reserves a dollar isn't too far off fair value though, so it's hard to decide to sell or hold.

JM.


----------



## explod (17 February 2012)

*Re: MAD - Maverick Drilling & Exploration*

Well its happy days at our place.  Currently teaching my Step Daughter to trade and one of her first four is MAD on which she is up 46%.  

On the size of buys during the day there must be something very big behind this but there is little else but the trend to go on from what I can see.


----------



## tech/a (17 February 2012)

*Re: MAD - Maverick Drilling & Exploration*



explod said:


> Well its happy days at our place.  Currently teaching my Step Daughter to trade and one of her first four is MAD on which she is up 46%.




Dangerous place to be.  



> On the size of buys during the day there must be something very big behind this but there is little else but the trend to go on from what I can see.




Trade size indicates retail.
I expect some prolonged consolidation in the near future
after a retracement of 30-50%---400% in a month will see a pause.


----------



## basilio (17 February 2012)

*Re: MAD - Maverick Drilling & Exploration*

Tech/A Just wondering for your reasons for believing MAD will substantially retrace.  What are your views on the fundamentals of the company -  reserves, production and likelihood of increases in these as drilling expands ?


----------



## Robbo (17 February 2012)

*Re: MAD - Maverick Drilling & Exploration*



basilio said:


> Tech/A Just wondering for your reasons for believing MAD will substantially retrace.  What are your views on the fundamentals of the company -  reserves, production and likelihood of increases in these as drilling expands ?




Forums are littered with stories of those who bought into parabolic rises at the tops and watched as the stock went down as quickly as it went up. Many purchases were based on 'fundamentals' but while they waited thinking that the next drilling result/mine open/takeover was just around the corner and would push the price higher, they sat idly by as prices fell dramatically and in doing so lost a lot of capital that could of been used on multitudes of other opportunities in the months/years before they sold in their fundamental dream because they couldn't bare a loss.

I've been there done that with fundamentals and learned my lesson.

Here are some basic examples of parabolic rises followed by large falls in a very short time frame. And while it doesn't guarantee MAD will follow the exact same pattern, regardless for me the probability is very high it will retrace significantly. 











See the similarities so far between these and MAD?


----------



## tech/a (17 February 2012)

*Re: MAD - Maverick Drilling & Exploration*



basilio said:


> Tech/A Just wondering for your reasons for believing MAD will substantially retrace.  What are your views on the fundamentals of the company -  reserves, production and likelihood of increases in these as drilling expands ?




Im a technical trader 
I have no interest in Fundamentals.

*Robbo*
Has explained well the likely technical pattern I expect.

There is always a risk when trading off a higher high that you will get a turn around.
I expect that to occur after next open or very soon after that.
Based upon the last few days price action.

For discretionary technical traders its about minimising Risk and maximizing profit.
When risk out weighs profit then best (For me) to stand aside.
I could be wrong__


----------



## explod (18 February 2012)

*Re: MAD - Maverick Drilling & Exploration*

Oil up more overnight, stock has reasonable momentum so there should be more in it.

Stop at .76 which is at the bottom of the ATR of the up channel.  Just happens to coincide near my preferred 5%.

On that last point I do like to monitor overall market goings on to allow some latitude as daily swings of more than 10% have to be factored into stops.


----------



## vas77d (20 February 2012)

*Re: MAD - Maverick Drilling & Exploration*

When is the ann coming out for this company?


----------



## oldblue (21 February 2012)

*Re: MAD - Maverick Drilling & Exploration*



vas77d said:


> When is the ann coming out for this company?




Interim report to 31 December is expected around the end of February - see last  Quarterly report.

Meanwhile, the market's buying up the SP in anticipation of a good result and/or further good drill results.

I hold.


----------



## serg87 (22 February 2012)

*Re: MAD - Maverick Drilling & Exploration*

is this a retrace or just another small step back before another upturn.....


----------



## tech/a (22 February 2012)

*Re: MAD - Maverick Drilling & Exploration*



tech/a said:


> Dangerous place to be.
> 
> 
> 
> ...





Hmmmm!
Hows the training going?

I could be Right--well partially so far.


----------



## explod (22 February 2012)

*Re: MAD - Maverick Drilling & Exploration*



tech/a said:


> Hmmmm!
> Hows the training going?
> 
> I could be Right--well partially so far.




Took some profits late last week, I would take more today but the student is wanting to hold.  

I see a break to the downside now.

Not in the stock myself by the way.


----------



## mr. jeff (22 February 2012)

*Re: MAD - Maverick Drilling & Exploration*

If I hadn't seen the great rise in the recent weeks then I would be bullish. As it stands I am tempted to take note of what is said here and say it's down to sideways at best.

Looks like a pause before continuation. Reasonably low volume down day closing near highs. 




Let's see what tomorrow holds....VERY glad I am not holding this one overnight. But over the month would have been fine!


----------



## rcm617 (23 February 2012)

*Re: MAD - Maverick Drilling & Exploration*

Have taken my original outlay and some profit out over the last week, however keeping the rest as I think this has still a bit to go in the long run. If there is any substantial dropback will be buying more.
As long as they can keep up the increasing momentum with the new rigs and with upgrades in reserves to add from Boling and Nash before the end of the financial year, MAD is still capable of being multiples of this price by July.


----------



## tech/a (23 February 2012)

*Re: MAD - Maverick Drilling & Exploration*

Technically yesterday wasn't to bad


----------



## Wa11y (23 February 2012)

*Re: MAD - Maverick Drilling & Exploration*

Tech - been interested in a few of your posts - have been looking at RED a fair bit too (but understand why you may not be posting on that forum now due to other members).  Out of curiosity, understand you're not interested in fundamentals, but as part of your TA, do you keep an eye on expected announcement dates? How do you manage the potential impact of an announcement? Or would this simply be covered by a stop?


----------



## tech/a (23 February 2012)

*Re: MAD - Maverick Drilling & Exploration*



Wa11y said:


> Tech - been interested in a few of your posts - have been looking at RED a fair bit too (but understand why you may not be posting on that forum now due to other members).  Out of curiosity, understand you're not interested in fundamentals, but as part of your TA, do you keep an eye on expected announcement dates? How do you manage the potential impact of an announcement? Or would this simply be covered by a stop?




No
They --- or their pending nature dont impact my trading. I have no structure implemented for anything at all fundamental.---I never even knew you could look up expected announcement dates---learnt something.

RED Nothing of interest to post---when there is I will.
Skins pretty thick but have no interest in conversing with more ons.--


----------



## Robbo (23 February 2012)

*Re: MAD - Maverick Drilling & Exploration*

Firstly this is *pure speculation* but I was on the ASX site and saw the headline MAD - 'Record Results' in whatever area they are drilling which may bring on positive price action tommorow (I haven't read the announcement). However in my opinion there is a high chance that could see a culmination top and I'd urge all holders to be cautious.
Many price tops occur with very high volume and often an associated 'positive announcement' is released and seen as a catalyst for the move, but large holders always sell into strength.

Anyway thats just a possibility and *I could very well be wrong*, I'll let the chart show the way tommorow. Good luck to holders hope you've made a great profit but don't let it evaporate if things do indeed look toppy.


----------



## Wa11y (24 February 2012)

*Re: MAD - Maverick Drilling & Exploration*



tech/a said:


> No
> They --- or their pending nature dont impact my trading. I have no structure implemented for anything at all fundamental.---I never even knew you could look up expected announcement dates---learnt something.
> 
> RED Nothing of interest to post---when there is I will.
> Skins pretty thick but have no interest in conversing with more ons.--




Ok - good to know, thanks. RED announcement early this month indicated there'd be an update by end of month highlighting production & forecast. Hence my question on "expected announcement date" and if this would impact your plan, to be specific. For example, you might see a buy opportunity through your TA but question was if it was end of Feb, if the "expected" announcement would be considered. Now I have my answer. Not sure if you're being sarcastic with "learnt something". 

But yes, understand why you wouldn't be conversing with a few on the RED forum.


----------



## tech/a (24 February 2012)

*Re: MAD - Maverick Drilling & Exploration*



Wa11y said:


> Ok - good to know, thanks. RED announcement early this month indicated there'd be an update by end of month highlighting production & forecast. Hence my question on "expected announcement date" and if this would impact your plan, to be specific. For example, you might see a buy opportunity through your TA but question was if it was end of Feb, if the "expected" announcement would be considered. Now I have my answer. Not sure if you're being sarcastic with "learnt something".
> 
> But yes, understand why you wouldn't be conversing with a few on the RED forum.




No I have learnt something.
I didn't know you could look up expected announcement dates.


----------



## Tyler Durden (24 February 2012)

*Re: MAD - Maverick Drilling & Exploration*

Because of the announcement, those idiots over at HC were ramping up the stock so much, even I was considering buying in. They claimed it could reach mid 90's, but it didn't even reach 0.85 today. Wow...idiots.


----------



## Boggo (24 February 2012)

*Re: MAD - Maverick Drilling & Exploration*



Wa11y said:


> For example, you might see a buy opportunity through your TA but question was if it was end of Feb, if the "expected" announcement would be considered. Now I have my answer. Not sure if you're being sarcastic with "learnt something".




Off the topic of MAD for a second but relevant I think.

The reality Wa11y is that in most cases the chart will tell you what is going on well in advance of the news.

Below is an example using AGS of what I mean.
Compare the news with the chart, the chart had picked up that something was happening way before there was any worthwhile news.

As for the RED discussion, they appear, make a heap of noise and then blow up and disappear, seen it all before.

(AGS chart and news comparison - click to expand)


----------



## Chasero (2 March 2012)

*Re: MAD - Maverick Drilling & Exploration*

So... share placement to instos today...??

Wonder @ what price


----------



## rcm617 (2 March 2012)

*Re: MAD - Maverick Drilling & Exploration*

Looks like someone was in the know yesterday afternoon.
My main interest will be why. If it's to buy a few extra rigs and speed up utilising all those reserves faster would be good in the long run. With all those extra acres in Boling and Nash, probably need to step on the accelerator.


----------



## basilio (2 March 2012)

*Re: MAD - Maverick Drilling & Exploration*



rcm617 said:


> Looks like someone was in the know yesterday afternoon.
> My main interest will be why. If it's to buy a few extra rigs and speed up utilising all those reserves faster would be good in the long run. With all those extra acres in Boling and Nash, probably need to step on the accelerator.




Well there couldn't be any other legitimate reason could there ? I think this could be a very astute move. Establishing another 3-4 rigs and the infrastructure to take oil to market would speed up production by 100%.  They could also purchase further  acreage and quickly prove up the current reserves.  They should get a good price on new stock.

I'm guessing an issue of 25million shares at 65c. Total raising of $16.25 million  (Total and complete guesswork..)


----------



## rcm617 (2 March 2012)

*Re: MAD - Maverick Drilling & Exploration*

Yes, I think this will hurt short term, but will be good for the long term shareprice. 
I guess we'll see the details on Monday.


----------



## Fantasy09 (2 March 2012)

*Re: MAD - Maverick Drilling & Exploration*



rcm617 said:


> Yes, I think this will hurt short term, but will be good for the long term shareprice.
> I guess we'll see the details on Monday.




Tuesday morning more likely.


----------



## Chasero (2 March 2012)

*Re: MAD - Maverick Drilling & Exploration*

Yes Tuesday. I'm thinking more like 55c...

Will be a few days of madness.. maybe a week. Then sp should slowly settle and with a nice gap down from 70 c


----------



## Fantasy09 (5 March 2012)

*Re: MAD - Maverick Drilling & Exploration*



Chasero said:


> Yes Tuesday. I'm thinking more like 55c...
> 
> Will be a few days of madness.. maybe a week. Then sp should slowly settle and with a nice gap down from 70 c




MAD could be taking a beating today.


----------



## basilio (5 March 2012)

*Re: MAD - Maverick Drilling & Exploration*

The capital raising has been heaviliy oversubscribed.  Came in at 30m shares at 60c.

No surprises. More acreage, more drilling rigs, more infrastructure. Depending on how quickly the new rigs start up production and profits should quicken substatntially.

And the SP hasn't gone south It looks as if the ones who missed out on the capital raising have re entered the market. Current price  up 5c at 78c !


----------



## 3134316 (5 March 2012)

*Re: MAD - Maverick Drilling & Exploration*

I'm having trouble evaluating the true value and growth potential of mad shares at the moment due to the volatility of it's share price over the last 3 weeks making it hard to judge. I also find it hard to understand such neutral market reactions to great announcements last week like big increases in reserves etc... Any tips for new players in long term stocks who are looking at mad?



basilio said:


> The capital raising has been heaviliy oversubscribed.  Came in at 30m shares at 60c.
> 
> No surprises. More acreage, more drilling rigs, more infrastructure. Depending on how quickly the new rigs start up production and profits should quicken substatntially.
> 
> And the SP hasn't gone south It looks as if the ones who missed out on the capital raising have re entered the market. Current price  up 5c at 78c !


----------



## rcm617 (5 March 2012)

*Re: MAD - Maverick Drilling & Exploration*



basilio said:


> The capital raising has been heaviliy oversubscribed.  Came in at 30m shares at 60c.
> 
> No surprises. More acreage, more drilling rigs, more infrastructure. Depending on how quickly the new rigs start up production and profits should quicken substatntially.
> 
> And the SP hasn't gone south It looks as if the ones who missed out on the capital raising have re entered the market. Current price  up 5c at 78c !




Looking good. I thought there may have been a slight pullback early on, but certainly the CR will be good for them in the longterm. With the amount of reserves and extra acreage, they need to get their finger out with the drilling and the extra cash will certainly allow them to do that.
I guess with the amount of drilling going on in Texas at the moment it will not be easy getting the additional rigs and the skilled labour to man them, so I  would think a couple of months before the additional rigs are in use.


----------



## Chasero (5 March 2012)

*Re: MAD - Maverick Drilling & Exploration*

Wow, super nice announcmeent and oversubscribed capital raising.

Dang it.. was hoping to get some more MAD shares on the cheap today


----------



## tech/a (5 March 2012)

*Re: MAD - Maverick Drilling & Exploration*



Chasero said:


> Wow, super nice announcmeent and oversubscribed capital raising.
> 
> Dang it.. was hoping to get some more MAD shares on the cheap today




I find comments like this amusing.
It implies that MAD is not worth buying now--no longer cheap?
I presume you wont buy any more until below 80c.
Interesting.
Still watching myself but this gives us something to look at re a testing for the high.


----------



## Chasero (5 March 2012)

*Re: MAD - Maverick Drilling & Exploration*

Missed out on my entry..

I have strict buy and sell orders... Sell orders @ 81.5.. so no, not going to buy in at a price which is my sell price.

will continue to watch MAD, will be one of the more interesting stocks this month 

Might break new highs, who knows.. gl to all LT holders


----------



## tech/a (5 March 2012)

*Re: MAD - Maverick Drilling & Exploration*



Chasero said:


> Missed out on my entry..
> 
> I have strict buy and sell orders... Sell orders @ 81.5.. so no, not going to buy in at a price which is my sell price.
> 
> ...




O K
Makes sence.


----------



## vas77d (7 March 2012)

*Re: MAD - Maverick Drilling & Exploration*

This share retraces to 65c I'm out after buying at 37c. If it breaks through 85c I'm buying more. Definitely it's holding its own on low volumes...given the ANN's in recent times...who knows what's in store come 30.06.2012.


----------



## stockrocker (10 March 2012)

*Re: MAD - Maverick Drilling & Exploration*



vas77d said:


> This share retraces to 65c I'm out after buying at 37c. If it breaks through 85c I'm buying more. Definitely it's holding its own on low volumes...given the ANN's in recent times...who knows what's in store come 30.06.2012.




On the contrary, I was hoping that it will drop back to around 60c so that i can load more up ! With any decent up grade in reserves by mid year I can easily see this stock hitting $1.50 IMO.


----------



## oldblue (11 March 2012)

*Re: MAD - Maverick Drilling & Exploration*



stockrocker said:


> On the contrary, I was hoping that it will drop back to around 60c so that i can load more up ! With any decent up grade in reserves by mid year I can easily see this stock hitting $1.50 IMO.




How about sharing your thinking in how you arrived at $1.50, stockrocker?

Specific targetrs should be justified to avoid suspicion of a "talking your book" ramp.



Disc: I hold MAD.


----------



## stockrocker (11 March 2012)

*Re: MAD - Maverick Drilling & Exploration*



oldblue said:


> How about sharing your thinking in how you arrived at $1.50, stockrocker?
> 
> Specific targetrs should be justified to avoid suspicion of a "talking your book" ramp.
> 
> ...




Sorry Old Blue, this is my first attempt at a forum and have not been in shares for that long either, so still not quite sure the parameters within a discussion, let alone valuing a company. How I arrived at $1.50 was more of an opinion than anything else. 

But, given management have recently rushed in to raise more capital to double their acreage on Blue Ridge and step up their drilling, I see that as a tremendous way forward. They must know the potential that Blue Ridge holds, even though they mentioned that doubling the acreage does not imply doubling the reserve.

So see if I can attempt to elaborate; if the maiden reserve of Nash and Boling combined comes in at half the current 2P, at sp of $1.50 would  value Mad at about $3.30/barrel of 2P. Factoring in potential upside in recent acquisitions in Blue Ridge, and maybe further acquisitions in Nash and Boling, and the stepping up of drilling from recent cr, I thought sp of $1.50 is still good value. As mentioned, it is only an opinion. I first bought MAD when it was at 43c, and added more at 54c, 69c, and 74c when it got knocked back from 80's. I'm intending to hold on to mine as I see a company with good potential upside still to come.

Please correct me if anything above is not right, still new but passionate to learn.


----------



## oldblue (12 March 2012)

*Re: MAD - Maverick Drilling & Exploration*

Everything written here is only an opinion but it always helps to explain the rationale!

So thanks.



I hold MAD too and like the company's prospects. There's no doubt that it is still modestly priced on current and prospective reserves. The only caveat here is that the market seems to place more importance on production, current and forecast than on reserves. I suspect that strong numbers here will be necessary to see MAD make further strong gains in the SP. Just IMO, of course.

Cheers


----------



## Fantasy09 (13 March 2012)

*Re: MAD - Maverick Drilling & Exploration*

Suddenly a lot of interest in MAD and price spike almost 14%.


----------



## explod (13 March 2012)

*Re: MAD - Maverick Drilling & Exploration*

Noticed the action early in the day and joined back in.  Has had a healthy consolidation the last three weeks after the big move up in February.

Up 18% on very keen late bidding after the close.  Sign of a good announcement coming in my view.  Tomorrow will be interesting.


----------



## rcm617 (13 March 2012)

*Re: MAD - Maverick Drilling & Exploration*

Looks like the institutions who are visiting Houston and for whom yesterdays  presentation was made were impressed with the operations over there.
Strong upward lift at the auction bodes well for tomorrow.


----------



## Fantasy09 (15 March 2012)

*Re: MAD - Maverick Drilling & Exploration*

MAD is going strong again today


----------



## Joe Blow (15 March 2012)

*Re: MAD - Maverick Drilling & Exploration*



Fantasy09 said:


> MAD is going strong again today




In future, please add some additional content to a post like this, such as how much MAD has risen in either $ or % terms (or both) and the amount of volume.


----------



## explod (15 March 2012)

*Re: MAD - Maverick Drilling & Exploration*

Well we are up 12% so far today with increased volume matching that of the last three trading days.

And up about 25% on the week.

If the current flow of buying continues tomorrow we could have the dollar by throat for the weekend.

Worth reading up on what this mob are doing in recovering oil from old fields.   They are a group of innovative Aussies who have developed an excellent business (with a rising oil price of course) in my view.


----------



## basilio (28 March 2012)

*Re: MAD - Maverick Drilling & Exploration*

MAD is going *MAD* again. Up 10% this morning. Could be some very keen new investors and/or some imminent very good news.


----------



## breaker (28 March 2012)

*Re: MAD - Maverick Drilling & Exploration*

I sold yesterday thinking $1.00 resitance WTF


----------



## piersha1 (28 March 2012)

*Re: MAD - Maverick Drilling & Exploration*

Sold early in the day @ $1.035.
Back in @ $1.05 and out @ $1.08
Sitting on good price now about $1.02/$1.03
$1.00 new lower resistance point in my opinion.
Keep trading on the ever upward trend...
If there is some imminent news, should it not be on the market already, otherwise insider trading would come into play?
Relatively new to MAD - but an interesting stock with a strong company model to back it up.


----------



## oldblue (28 March 2012)

*Re: MAD - Maverick Drilling & Exploration*



> If there is some imminent news, should it not be on the market already, otherwise insider trading would come into play?




Yes, of course. But MAD have previously signalled that there will be a pretty continuous stream of news - and the market is picking that most of that will be good. That makes for a nice upward trending SP until the bend at the end!

Meanwhile, we enjoy the ride!


----------



## tech/a (28 March 2012)

*Re: MAD - Maverick Drilling & Exploration*



breaker said:


> I sold yesterday thinking $1.00 resitance WTF




*Technically*

When a stock rises to resistance we look for a couple of things an increase in volume as we had indicates a return to increased supply.
Supply has to withdraw from the market or be over powered by demand.
Today we saw
(1) Demand over power supply.
(2) Supply swamping demand.
All in the one bar.

This leaves MAD in a weak position in my view.
Any trading below today's low will be seen as a reversal.
I feel the current high will be hard to take out.

So I think you did ok --in hindsite!


----------



## breaker (28 March 2012)

*Re: MAD - Maverick Drilling & Exploration*



tech/a said:


> *Technically*
> 
> When a stock rises to resistance we look for a couple of things an increase in volume as we had indicates a return to increased supply.
> Supply has to withdraw from the market or be over powered by demand.
> ...




Thanks tech

I see $1 as support and bought in again .


----------



## tech/a (28 March 2012)

*Re: MAD - Maverick Drilling & Exploration*



breaker said:


> Thanks tech
> 
> I see $1 as support and bought in again .



Tomorrow will tell 
But I expect at *best* an inside day.
At *worst* a nasty reversal.
On *average*--lower than $1

Not on my list to buy again


----------



## explod (28 March 2012)

*Re: MAD - Maverick Drilling & Exploration*

Fundamentally after a presentation today to RBS Morgans we may see more MAD flying tomorrow.

Production on target, more rigs being put in place and good recovery.  With the oil price firming its a good look in my view.

Go Mad


----------



## mr. jeff (28 March 2012)

*Re: MAD - Maverick Drilling & Exploration*



explod said:


> Fundamentally after a presentation today to RBS Morgans we may see more MAD flying tomorrow.
> 
> Production on target, more rigs being put in place and good recovery.  With the oil price firming its a good look in my view.
> 
> Go Mad




I like their style of management and they are certainly acting like a decent player. It also seems that there is a lot of interest in their business over in the US.





An excerpt from their latest presentation.

I agree that today's bar was a disappointing one, watching for a sign of further selling - but looking for a hold above 95c.


----------



## Robbo (28 March 2012)

*Re: MAD - Maverick Drilling & Exploration*

I was wrong about an anticipated fall from what I saw as a parabolic move back in Feb, however my view hasn't changed much.

They did a cap raising of 30million shares @ 60c ($18mil), currently all those shares issued to 'institutional/sophisticated' investors are in profit well over 50%, assuming these 'sophisticated investors' sell the entire 30mil they could collectively net a nice ~$9million+ profit for potentially under a months work! 

Some may think they'll be holding onto these as investments for the future and maybe some will, I on the other hand think the profit motive of flipping them and netting a quick and easy 50%+ will be much more tempting, especially if after they've finished selling the price falls back down toward placement level or lower and traps and potentially forces the selling hand of the many additional 'investors' that have bought into a company that was 22c less than 3 months ago. 

Quite possibly I'll be wrong but something to think about.


----------



## basilio (28 March 2012)

*Re: MAD - Maverick Drilling & Exploration*

It's a challenge trying to work out a "fair value" for MAD.  In hindsight at 22c it was very underpriced so the revaluing to probably the mid 50's range was reasonable.

At $1.00 it seems currently overpriced. But this doesn't take into account the potential increases in reserves with the new acquisitions, the steadily increasing production from current drills *and then* a sharper increase in production as the new rigs swing into action. Lets remember these guys seem to bring a well into production within 6 weeks with very cheap establishment costs.  The process has been well proved - it's not a hypothetical. 

In that context it may well be that the $1 per share value will look good within 6 months.  If enough of the investors accept this analysis there may not be any significant selldown or at least there will be sufficient new investors to support the price.  Anyway I just can't see it's fundamental value falling within the forseeable future


----------



## explod (28 March 2012)

*Re: MAD - Maverick Drilling & Exploration*



Robbo said:


> Some may think they'll be holding onto these as investments for the future and maybe some will, I on the other hand think the profit motive of flipping them and netting a quick and easy 50%+ will be much more tempting, especially if after they've finished selling the price falls back down toward placement level or lower and traps and potentially forces the selling hand of the many additional 'investors' that have bought into a company that was 22c less than 3 months ago.
> 
> Quite possibly I'll be wrong but something to think about.




Over 150 million shares have changed hands since the cap raising so maybe they already have.


----------



## basilio (28 March 2012)

*Re: MAD - Maverick Drilling & Exploration*

I think the little flurry on MAD today was due to the RBS wrap on the company. They would have many private investors on their books who  seem to have followed the advice.



> Maverick Drilling & Expl (A$0.97) Buy TP A$1.23 Capital to accelerate growth This year MAD has achieved many milestones. MAD has increased its production, reserves, and acreage position and has become profitable. Post the A$18m placement, we believe MAD has the capital to add rigs to the fleet, accelerate development, and increase its acreage. Upcoming newsflow includes reserves upgrades in Blue Ridge Dome, initial reserves assessment on Boling Dome and Nash Dome, and results of seismic analysis of deeper plays on the acreage. Based on our forecasts of the forward plans from the money raised, we increase our target price to A$1.23.




http://centralcoast.businessinsider.net.au/stories/financial/market-outlook

But just for interest did anyone  else pick up the connection between RBS and MAD ? Roger Clarke is Chairman of the Advisory Board of RBS Morgans as well as Vice Chairman of MAD...

http://investing.businessweek.com/r...Id=9935476&previousTitle=TISSUE THERAPIES LTD


----------



## oldblue (29 March 2012)

*Re: MAD - Maverick Drilling & Exploration*



> It's a challenge trying to work out a "fair value" for MAD. In hindsight at 22c it was very underpriced so the revaluing to probably the mid 50's range was reasonable.




Not just in hindsight!

For several monhs now its been known that MAD was the cheapest oily on the ASX lists on a 2P Reserve basis, by a big margin. The problem was whether and when production would increase to fully reflect this value.

May be a somewhat different proposition at $1 though.


----------



## tech/a (29 March 2012)

*Re: MAD - Maverick Drilling & Exploration*



tech/a said:


> Tomorrow will tell
> But I expect at *best* an inside day.
> At *worst* a nasty reversal.
> On *average*--lower than $1
> ...




Best scenario so far.
Low volume will indicate a continuation.
High Volume likely capitulation.


----------



## mrlister (29 March 2012)

*Re: MAD - Maverick Drilling & Exploration*

ive been watching this sucker since it was .38c.....always thinking it would drop so never buying...what a dill!!


----------



## Chasero (29 March 2012)

*Re: MAD - Maverick Drilling & Exploration*



mrlister said:


> ive been watching this sucker since it was .38c.....always thinking it would drop so never buying...what a dill!!




I traded a bit in the 60-80c range. Always waiting for it to drop as well.

Thinking the same thing!

The thing is they do a lot of presentations to brokers and around the US. If you really researched the dates, would've been easy trades.


----------



## explod (29 March 2012)

*Re: MAD - Maverick Drilling & Exploration*



mrlister said:


> ive been watching this sucker since it was .38c.....always thinking it would drop so never buying...what a dill!!




In the markets there will always be other times.

A few years ago I purchased a book called "Trend following" by Michael Covel.  It has gradually turned my life around from what was a bad start.

I also purchased MAD which is on a trend that, in my (humble) view, and having studied its business model, will continue.

Volume stable against other recent good days Tech.  I see next target and resistance at around $1.35 in a week or so.  Just going by its own individual behaviour on the daily chart of the last two and a half months.


----------



## Chasero (29 March 2012)

*Re: MAD - Maverick Drilling & Exploration*



explod said:


> In the markets there will always be other times.
> 
> A few years ago I purchased a book called "Trend following" by Michael Covel.  It has gradually turned my life around from what was a bad start.
> 
> ...




Yep I've read trend following and turtle trading. Trend following definitely helps looking into.. especially with sideways trending stocks suddenly turning and trending.


----------



## tech/a (29 March 2012)

*Re: MAD - Maverick Drilling & Exploration*

Well plenty of strength here.
Making new highs on average volume.


----------



## PinguPingu (29 March 2012)

*Re: MAD - Maverick Drilling & Exploration*



mrlister said:


> ive been watching this sucker since it was .38c.....always thinking it would drop so never buying...what a dill!!





I had a holding in it, at around 20c and sold it at around 23c (out of impatience, sigh) literally a few weeks before it exploded. It's been hard to get over it.


----------



## mr. jeff (29 March 2012)

*Re: MAD - Maverick Drilling & Exploration*

Sold into the run today after yesterdays jump - was not able to check charts, so after seeing it building this morning thought I would put an optimistic sell order in in case of a pop. Which came through, not sure about the bar though as it came off highs at the end of the day on relatively large volume, so may not see great gains again tomorrow, but this is MAD and I will try and watch for positive action. 

Although I may miss out on further moves I have found recently that selling on significant up moves is more rewarding than holding for continuations, may be the stocks I have been in recently though.


----------



## basilio (30 March 2012)

*Re: MAD - Maverick Drilling & Exploration*

It will be interesting to see what the first reserve figures are for Boling Dome and Nash Dome. And the belief that MAD can establish around 150 wells a year with the upgraded  gear is a powerful thought. Lets say 100 extra wells at an average of 40 boe/d . That's 4000 boe/d on top of the current production. 

The current run however seems surreal.

_____________________________________________________

Up to $1.21 and demand is still running at 8 to 1 !. Perhaps there are some shorters trying to cover their positions. Or the rough analysis I have done is close to the truth.


----------



## mr. jeff (30 March 2012)

*Re: MAD - Maverick Drilling & Exploration*

Ouch
Never sell a winning position without good reason.
Clawing not a good look!


----------



## basilio (2 April 2012)

*Re: MAD - Maverick Drilling & Exploration*

There still going "Mad" out there. Another big trade/big rise day.

It will be fascinating to see what the reserve upgrades look like in a few weeks because at the current price MAD looks very pricey.  Of course they might also have struck gold in one of their drills...


----------



## tech/a (4 April 2012)

*Re: MAD - Maverick Drilling & Exploration*

Excellent pivot day
In $1.26


----------



## basilio (4 April 2012)

*Re: MAD - Maverick Drilling & Exploration*



tech/a said:


> Excellent pivot day
> In $1.26




What do you mean by "pivot day " T/A ? 

Interested that you are jumping in at this price when I thought that earlier on you believed it was overpriced. Would you like to share your rationale ?


----------



## tech/a (4 April 2012)

*Re: MAD - Maverick Drilling & Exploration*

Ill post a chart tonight.

I never use words like Over priced.
On Supply and demand.
I saw/see a drying up of supply.
I see a low risk entry.
Pivot is misleading as it isnt strictly a pivot.
I see the days action as pivotal though.
(As in turning).
If I see opportunity then Ill take it.

Ill put it all on the chart.


----------



## basilio (9 April 2012)

*Re: MAD - Maverick Drilling & Exploration*

Lets see what happens after easter with MAD.  Certainly can't wait to see the reserves statement. !


----------



## tech/a (10 April 2012)

*Re: MAD - Maverick Drilling & Exploration*



tech/a said:


> Ill post a chart tonight.
> 
> I never use words like Over priced.
> On Supply and demand.
> ...




Stopped.


----------



## mrlister (10 April 2012)

*Re: MAD - Maverick Drilling & Exploration*

where did you stop at? where do you see it heading now?

history shows that MAD always has pullbacks like this before taking off again. but at some point the run has to end!?!?


----------



## Chasero (10 April 2012)

*Re: MAD - Maverick Drilling & Exploration*

this pullback may be quite different.

note MAD was doing roadshows during feb-march to AMERICAN investors.

DOW has had a huge bull run, they may have stopped buying in april.

Then again, could be wrong. I often am  (I stopped buying MAD after 90c... and look where it is now)

I try and get on trends when they come in. I try and jump off as well safely.


----------



## mrlister (10 April 2012)

*Re: MAD - Maverick Drilling & Exploration*

was quite a sell off this morning at 1.205. every time it sold out, it replenished with a further 20k. seems to have stopped now, may start after lunch, or may be sold out. think it will have a bearing on its capacity to climb today.


----------



## Chasero (10 April 2012)

*Re: MAD - Maverick Drilling & Exploration*

Well I know a lot of people calling MAD a 10 bagger etc from when it was trading par 20c.

It has already bagged 6 times @ $1.20.

I have yet to see a 10 bagger in my investing lifetime (i.e. 1 year ) though MAD still has the potential to see upwards imo.


----------



## PinguPingu (11 April 2012)

*Re: MAD - Maverick Drilling & Exploration*

Yowzers, ~25% drop in 3 days.


----------



## Chasero (11 April 2012)

*Re: MAD - Maverick Drilling & Exploration*

Market cap is still 400m.

I've seen some valuations done on MAD (by forum people on other sites, not sure about expertise) since it was trading at 20c and a lot of the valuations did not go past 300m market cap.

Hence why I was so shocked to see this past $1. 

It must be the name . But I will still consider buying past $1 if there is still strength/support in the coming month.


----------



## tech/a (11 April 2012)

*Re: MAD - Maverick Drilling & Exploration*



Chasero said:


> Market cap is still 400m.
> 
> I've seen some valuations done on MAD (by forum people on other sites, not sure about expertise) since it was trading at 20c and a lot of the valuations did not go past 300m market cap.
> 
> ...




So your still in after seeing your profit drop back to almost even ---yet your happy to stick it out and in fact consider buying more below $1.

So could you run through for me what your thinking and analysis was and now is?

What have you in place for risk management?
What have you in place for Taking profits?
How much of your portfolio is exposed to MAD.
What else do you currently hold?


----------



## notting (11 April 2012)

*Re: MAD - Maverick Drilling & Exploration*



tech/a said:


> So could you run through for me what your thinking and analysis was and now is?




There was some dude talking it up on Sky Business the other night?
That's my bet!


----------



## Chasero (11 April 2012)

*Re: MAD - Maverick Drilling & Exploration*



tech/a said:


> So your still in after seeing your profit drop back to almost even ---yet your happy to stick it out and in fact consider buying more below $1.
> 
> So could you run through for me what your thinking and analysis was and now is?
> 
> ...




I have already sold out...

I haven't bought back in since it went past 90c as fundamental analysis was telling me it wasn't worth so much.

I only hold for a very short time and always protect my profits. If there is support and the trend continues.. even if it is above $1 I will be back in if I see a trend.

As for my portfolio, I never invest over 15% in one stock.


----------



## Chasero (12 April 2012)

*Re: MAD - Maverick Drilling & Exploration*

Nice ann today.

Took a little nibble @ 1.18.. 

results release should spark up some further price rise - hopefully! Will give it a month.


----------



## Sdajii (12 April 2012)

*Re: MAD - Maverick Drilling & Exploration*

After buying in at about 21.5c a few months ago it has been very tempting to sell, especially as we screamed passed $1. When it became a 5-6 bagger for me I considered selling, but figured I'd at least let the run continue and then sell when it started falling back.

When it did start falling back this week I was tempted to sell, but decided to wait until the next announcements, especially the reserves upgrade. This morning's announcement made me glad I did. Sure, in hindsight I'd have taken $1.38, but picking the top would only have been possible in hindsight, and I'd be buying back in now if I had sold then.

What I really like about this situation is that unlike many companies which promise the world and deliver frig all, MAD tends to be pretty conservative or at least realistic. They don't make false promises. Today's announcement had no solid figures, but was very positive. The market doesn't tend to pay much attention to something so vague (and generally, rightly so), but I don't think MAD would kill their credibility by putting out something so positive without there being something to back it up.

Putting that together, I think the present moment represents a good buying opportunity. Good news on the way which the market hasn't yet responded to. I'd buy more, but MAD is already nearly a third of my portfolio.... gotta love 5-6 baggers


----------



## rcm617 (12 April 2012)

*Re: MAD - Maverick Drilling & Exploration*

Unfortunately I started selling in the 70's, however managed to unload one bundle at $1.39. Still got more left value wise than I started with, and hoping for it to come back a bit more to buy some back. 
I was a bit disappointed with the fact their production dropped back since January, but I guess there were excuses for that, also they seem to be pretty slow getting the rigs working. Looks like the fourth rig will only be going in their summer, I thought it would already be working now. Guess with all that drilling happening in Texas they are having problems staffing the rigs.
I think they will have to start showing some decent increase in production soon to justify the present market cap. I've got no doubt that they can increase production in the long run, but might be able to pick some up a bit cheaper if production is a bit slow over the next quarter. If not, still got enough to keep it interesting.


----------



## oldblue (13 April 2012)

*Re: MAD - Maverick Drilling & Exploration*



> I was a bit disappointed with the fact their production dropped back since January, but I guess there were excuses for that,




I seem to have missed that announcement. When was it made?


----------



## rcm617 (13 April 2012)

*Re: MAD - Maverick Drilling & Exploration*



oldblue said:


> I seem to have missed that announcement. When was it made?




In the last quarterly they mentioned production in January had stabilised at 900 bopd.
In the latest presentation production to date for the quarter has averaged 757 bopd, so we would have had to drop below this 757 bopd for the last two months to get this average.


----------



## oldblue (13 April 2012)

*Re: MAD - Maverick Drilling & Exploration*



rcm617 said:


> In the last quarterly they mentioned production in January had stabilised at 900 bopd.
> In the latest presentation production to date for the quarter has averaged 757 bopd, so we would have had to drop below this 757 bopd for the last two months to get this average.




Thanks, rem. Well spotted!

I sold out of MAD at the end of February as I felt that the SP was getting too far ahead of production and that the valuation on the basis of 2P Reserves would carry said SP only so far before production became a bigger issue.

Still very much on my watchlist, however.

Cheers


----------



## explod (19 April 2012)

*Re: MAD - Maverick Drilling & Exploration*



Sdajii said:


> What I really like about this situation is that unlike many companies which promise the world and deliver frig all, MAD tends to be pretty conservative or at least realistic. They don't make false promises. Today's announcement had no solid figures, but was very positive. The market doesn't tend to pay much attention to something so vague (and generally, rightly so), but I don't think MAD would kill their credibility by putting out something so positive without there being something to back it up.
> 
> MAD is already nearly a third of my portfolio.... gotta love 5-6 baggers




It will be a lot bigger after today.  It is proving a great thing for my Family.  "The trend is your friend until the bend"

However this Melbourne Company with its technology of vacuum cleaning out high grade crude from the old oil fields is going to go much further yet in MHO.

Well worth reading up on for those who have not looked at it yet.  Basilio you should have had it in the stockpicking competition this month too, although your HOG is looking okay tool.


----------



## ColB (19 April 2012)

*Re: MAD - Maverick Drilling & Exploration*



explod said:


> It will be a lot bigger after today.  It is proving a great thing for my Family.  "The trend is your friend until the bend"
> 
> However this Melbourne Company with its technology of vacuum cleaning out high grade crude from the old oil fields is going to go much further yet in MHO.
> 
> Well worth reading up on for those who have not looked at it yet.  Basilio you should have had it in the stockpicking competition this month too, *although your HOG is looking okay tool.*




Explod, it is not very nice calling Basilio a tool!


----------



## explod (19 April 2012)

*Re: MAD - Maverick Drilling & Exploration*



ColB said:


> Explod, it is not very nice calling Basilio a tool!




Love it ColB, 

dyslexia is sometimes perhaps a wonderful thing.

Perhaps the *spanner* part is the way to wealth.

But one has to love that chart.

http://bigcharts.marketwatch.com/ad...rsToggle=false&chartStyleToggle=false&state=9


----------



## basilio (19 April 2012)

*Re: MAD - Maverick Drilling & Exploration*

Yeah MAD is still going well. I have a bit left in it but I have to say I took most off the table when it reached  $1.20 + .

I was tempted to pick MAD again for the stock tips but I thought it was a bit ambitious to see it winning 3 months in a row ! Now if only my pet little pig  grows some wings we might see some action.  (Shame about TTE)


----------



## explod (19 April 2012)

*Re: MAD - Maverick Drilling & Exploration*



basilio said:


> (Shame about TTE)




You can say that again!!!  but QPN has balanced the books.


----------



## explod (20 April 2012)

*Re: MAD - Maverick Drilling & Exploration*



explod said:


> You can say that again!!!  but QPN has balanced the books.




Dropped my QPN and added to my MAD holding at $1.43 today on news of good production progress this morning.

http://www.asx.com.au/asxpdf/20120420/pdf/425qq7b7h18kpr.pdf

And the chart looks healthy for a trend setter too.

http://bigcharts.marketwatch.com/ad...rsToggle=false&chartStyleToggle=false&state=9


----------



## explod (23 April 2012)

*Re: MAD - Maverick Drilling & Exploration*



explod said:


> I see next target and resistance at around $1.35 in a week or so.  Just going by its own individual behaviour on the daily chart of the last two and a half months.




From my post on the 28th of March we achieved the above target.

This trend has characteristic waves of climb and consolidation which defies a tight trailing stop so have dispensed with it on this.  The current break appears strong in my view and look now to a target of $1.60 this week.

http://bigcharts.marketwatch.com/ad...orsToggle=false&chartStyleToggle=false&state=

As related in recent posts, the fundamentals also support a stronger position in my view.


----------



## qldfrog (23 April 2012)

*Re: MAD - Maverick Drilling & Exploration*



explod said:


> As related in recent posts, the fundamentals also support a stronger position in my view.



 oops mad tripped today...


----------



## Chasero (23 April 2012)

*Re: MAD - Maverick Drilling & Exploration*



Chasero said:


> Nice ann today.
> 
> Took a little nibble @ 1.18..
> 
> results release should spark up some further price rise - hopefully! Will give it a month.




Ya.. stopped out today. Profts taken.


----------



## explod (26 April 2012)

*Re: MAD - Maverick Drilling & Exploration*



Chasero said:


> Ya.. stopped out today. Profts taken.




No stops on this one for me, only blue skies.

Increased reserves announced this morning on Nash.

Go MAD


----------



## mrlister (26 April 2012)

*Re: MAD - Maverick Drilling & Exploration*

not increased reserves, increased acreage to explore.


----------



## Sdajii (26 April 2012)

*Re: MAD - Maverick Drilling & Exploration*



mrlister said:


> not increased reserves, increased acreage to explore.




Good point.

When I read the announcement I thought "Wow! That pretty much takes our total 1P 
reserves to about 75 million barrels!" which was assuming the new Nash acres were the same as the ones we already held. I also figured that with further drilling we'd pretty easily get them upgraded to over 100 million, plus we have the option for another 1,700 acres! Wow! 100 million should be a cinch!

But that only lasted a few seconds before I realised the new ones might not be as good. Even a short distance across the ground can mean what's going on below is totally different. Reading on, I noticed they said it could mean a 0% increase to reserves... or the new acres could be even better. We'll have to wait 4-6 months I think the announcement said.

I suspect the new acres will be at least in the ball park of comparable, but as usual MAD doesn't want to overstate anything. Better to keep hopes low and impress later rather than raise hopes and either only just meet expectations or fall short of them later. I really love MAD management like that, they never overstate anything, which is so rare for publicly listed companies.

I'm glad the share price hasn't reacted much to the news, although I bet it will be factored in later in the year, 3-5 months from now.

Could be nothing, or it could easily blow our reserves way over 100 million barrels (imagine that!). Just another exciting thing to look forward to, or hope for. I bought in at 21.5c, it has been so tempting to take the profit, but things like this just keep me hanging on, and being rewarded. The 4-6 wait will be frustrating, but should be enough of a carrot to keep me holding until then.


----------



## basilio (30 April 2012)

*Re: MAD - Maverick Drilling & Exploration*

Another gallop down the MAD path.  Up 11c and still strong.

Starting to look like AUT now. A self perpetuating rise.


----------



## skyQuake (30 April 2012)

*Re: MAD - Maverick Drilling & Exploration*

Tested the high of the 20th and consolidated, lets see if we can surge through tomorrow!


----------



## basilio (7 May 2012)

*Re: MAD - Maverick Drilling & Exploration*

A big POP in the MAD camp today.  Down 15%.  Will be interesting to see how strongly its support continues or if punters find another favourite stock.

__________________________________________________________________

_I have no disrespect for MAD but it seems that many stocks can have legitimate reasons for much higher SP.  Yet only a few attract and hold the self perpetuating longer term push that gives some stocks a great ride and their promoters a big return. 
_


----------



## Chasero (17 May 2012)

*Re: MAD - Maverick Drilling & Exploration*



explod said:


> No stops on this one for me, only blue skies.
> 
> Increased reserves announced this morning on Nash.
> 
> Go MAD




Still no stops?  Or just holding?

Big boys selling out today.

I'll stand by and watch..


----------



## CanOz (17 May 2012)

*Re: MAD - Maverick Drilling & Exploration*

These Fibb levels will usually act as support, temporarily at least.

CanOz


----------



## skc (17 May 2012)

*Re: MAD - Maverick Drilling & Exploration*



Chasero said:


> Still no stops?  Or just holding?
> 
> Big boys selling out today.
> 
> I'll stand by and watch..




That is MAD.

Pretty strong and swift bounce from 84 to 92 though.


----------



## Chasero (17 May 2012)

*Re: MAD - Maverick Drilling & Exploration*

Yep, I visited the other day trading thread...

Looks like a lot of day traders jumped in at 50% fib retrace ~85c.. then sold at 90c.


----------



## explod (17 May 2012)

*Re: MAD - Maverick Drilling & Exploration*



Chasero said:


> Still no stops?  Or just holding?
> 
> Big boys selling out today.
> 
> I'll stand by and watch..




Sold at $1.27

And just watching


----------



## oldblue (17 May 2012)

*Re: MAD - Maverick Drilling & Exploration*



oldblue said:


> Not just in hindsight!
> 
> For several monhs now its been known that MAD was the cheapest oily on the ASX lists on a 2P Reserve basis, by a big margin. The problem was whether and when production would increase to fully reflect this value.
> 
> May be a somewhat different proposition at $1 though.




MAD looking interesting again (to me) at these levels. 2P Reserves havn't gone away, in fact have been recently enhanced, but I'll wait and see if the uptrend resumes.


----------



## basilio (18 June 2012)

*Re: MAD - Maverick Drilling & Exploration*

Nice little announcement by MAD this morning.  Reserves doubled.  SP jumps 26% .. Good stuff for those who held and in particular those who jumped in last Friday afternoon ahead of the announcment.
(Mind you the reserve update had been flagged a feeew months ago. It was not a surprise.)

http://newsstore.fairfax.com.au/app...rkets.theage.com.au/apps/qt/quote.ac?code=mad


----------



## Chasero (18 June 2012)

*Re: MAD - Maverick Drilling & Exploration*



basilio said:


> Nice little announcement by MAD this morning.  Reserves doubled.  SP jumps 26% .. Good stuff for those who held and in particular those who jumped in last Friday afternoon ahead of the announcment.
> (Mind you the reserve update had been flagged a feeew months ago. It was not a surprise.)
> 
> http://newsstore.fairfax.com.au/app...rkets.theage.com.au/apps/qt/quote.ac?code=mad




Funny how LYC, MAD and others all have 'good' announcements right after Greek elections are over...


----------



## tech/a (18 June 2012)

*Re: MAD - Maverick Drilling & Exploration*



Chasero said:


> Funny how LYC, MAD and others all have 'good' announcements right after Greek elections are over...




Maximum impact.
Released on bearish sentiment and youd have a so so responce.
See if it holds.


----------



## Sdajii (19 June 2012)

*Re: MAD - Maverick Drilling & Exploration*



basilio said:


> Nice little announcement by MAD this morning.  Reserves doubled.  SP jumps 26% .. Good stuff for those who held and in particular those who jumped in last Friday afternoon ahead of the announcment.
> (Mind you the reserve update had been flagged a feeew months ago. It was not a surprise.)
> 
> http://newsstore.fairfax.com.au/app...rkets.theage.com.au/apps/qt/quote.ac?code=mad




At least in MAD's case it was coincidence (a nice one). This announcement was scheduled, they'd have released it at that time either way, unless they decided to go for a trading halt instead if it was a really nasty day.

As for the announcement, I'm thrilled! I was expecting 1P to go to about 75-80k, and to see it top 100k was awesome! MAD's 1P reserves are just incredible! How many other ASX companies have that much? Additionally, the cost of production is very low. After originally buying in at an average of 21.5c, on yesterday's announcement I topped up with another 40k shares. Over the next year or two production will steadily increase and the share price should get dragged up with it. If they wanted to they could sit there producing a heap of oil for a hundred years or so, but more likely they'll further prove up acreage (still plenty to go, we'll probably end up with over 200k in 1P reserves within a year or two! And all of it oil, not BOE, and all of it oil which carries a $17 premium to WTI oil! Even now we're selling our oil for around $100 per barrel, and it's low cost production). Most likely once they've sufficiently proved up some of the acres they'll start selling it which will put us in a nice cash position and allow us to really ramp up our own production, and probably start paying some decent dividends.

I think MAD is definitely one to have a good, close look at, and should be exciting to watch and be part of over the next few years.

DYOR etc. etc. and all that.


----------



## Chief Wigam (22 June 2012)

*Re: MAD - Maverick Drilling & Exploration*

Good article from EnergyNewsPremium.net:



Who is the tall dark stranger there?

The comparisons between Maverick Drilling &
Exploration and Aurora Oil & Gas have ratcheted up as
fast as Maverick was able to provide the market with
reserves estimates for its holdings in Texas.
Its latest update had its proven reserves doubled to
102 million barrels of oil based on an initial reserves
study at its Boling Dome Holdings. The news sent
Maverick shares north, just over 20% to $1.34.
While the rise has been somewhat pegged back, it is
part of a broader trend for Maverick as investors on
the ASX start sitting up and taking notice of the
junior.
Its shares have gone up nearly 418% since the start
of the year, sparking lamentations among the lateadopters
and cork-popping from those who held
shares in 2011.
To be fair, there was little indication in 2011 that
Maverick’s share price would undergo such an
explosion. For most of 2011, it was content to snap up
more acreage around its projects while poking around
for some early cash flow.
However, in 2012 it has started getting the numbers
from independent assessors, and since then the
market has been forced to sit up and take notice.
Investors have long sat up and taken notice of Aurora
Oil and Gas too, and with good reason. Its position in
the Eagle Ford shale is the envy of many an operator
in the region. Its faith in its Sugarloaf acreage has
been confirmed by two separate transactions.
The first being a 6% interest grab from a nonoperator
for $US95m, and it is in the middle of
acquiring a 6.25% stake from Eureka Energy via a
$A107m takeover bid.
Its acreage coupled with a no-fuss approach to getting
assets into production, along with the interest of
Marathon Oil in developing Aurora’s acreage has
helped grow its share price nearly 300% over the past
two years, with the growth even more astronomical
when taking in a longer time frame.
Again, those who got on early would be buying
Faberge eggs for breakfast.
Here is the scary thing though. A quick look at both
Aurora’s reserves position and Maverick’s reserves
position suggests there is a lot of upside in the market
to come from Maverick.
Aurora’s proven reserves sit at 80 million barrels of oil
equivalent pre-royalty and its proven and probable
reserves are 92MMboe.
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EnergyNewsPremium.net - Who is the tall dark stranger there?

By all accounts, that is a pretty decent haul.
After the latest reserves upgrade, Maverick is sitting at
102 million barrels of oil on 1P and 192MMbbls on 2P.
Aside from the cursory “one number is bigger than the
other” analysis, the astute will notice that Aurora’s
reserves are in Boe while Mavericks reserves are in
Bbl. With gas prices feeling the pinch in North
America, crude is very much king.
Aside from being focused on crude, Maverick has
managed to finagle a price for its crude of $18 above
West Texas Intermediate pricing.
While Maverick management do not invite the
comparison with Aurora, labelling Aurora a totally
different play to Maverick, the market cannot help
make matching the two based on the numbers.
While management could not comment specifically on
the validity of its market valuation, the company told
EnergyNewsPremium from Houston that it feels it is on
the beginning of a long path to its true valuation.
It added that it was sure analysts were crunching the
numbers to issue re-ratings in the near future.
Maverick also played a straight bat to suggestions the
recent reserves upgrades could have other players in
the area interested.
“Yes – we have had inquiries and tyre kicking from
several parts of the world but nothing material at this
point,” Maverick executive director Brad Simmons
said.
“We have a long way to go to really be thinking about
being a takeover candidate – and we don’t need any
partners to develop our fields.”
If the tyre kicking is not frenzied now, forthcoming
reserves evaluations for 3500 acres at Boling Dome,
1930 acres at Blue Ridge and a potential 4685 acres
at Nash Dome may just pique more curiosity.
As Simmons says though, Maverick does not need
anybody along for the ride to develop its fields.
It has a 100% stake in three producing fields. It has
spent time proving them up to provide data for
reserves estimates. It has 14 rigs it is preparing for
further drilling, four of which will be out and drilling in
the fields in short order.
This in turn will drive production upward of its
757bopd and provide cash flow.
The real question for Maverick is how much time it will
take to fully exploit its plentiful resource.
While it is not a bad dilemma to have, it is one that
could detract from the love Maverick has been feeling
lately.
Detractors have pointed out that Maverick’s producers
so far have been on the “piddly” end of the scale. In
fact, a number of its wells have stabilised in the 10 to
20bopd range.
Those sorts of production numbers don’t exactly excite
shareholders or the broader market, but Maverick
insists that it has higher producing zones to tap if
needed.
But surely if it could produce from the higher zones
then it would, or so the logic goes.
The company has told investors that it is able to
break even at 10bopd, but those who have jumped on
board the MAD bandwagon would like to see the
company do better than just break even.
Past comments from directors in Simmons and Don
Henrich point to why the company has limited
production, and as far as excuses go for limiting
production thus far go, it is a pretty good one.
In an April Interview with Motley Fool Share Advisor
the pair elaborated on why they may just want to
keep a lid on things.
“As some MAD followers have now realised, premature
release of positive information creates the prospect of
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EnergyNewsPremium.net - Who is the tall dark stranger there?
http://www.energynewspremium.net/StoryView.asp?StoryID=8685601[6/20/2012 11:15:01 PM]
‘shooting yourself in the foot’ in terms of acquiring the
offset acreage in the vicinity,” they said.
“We are pleased with the results of those wells, and
for now we leave it at that.”
So while Aurora Oil & Gas will be taking part in the
frenzied drilling campaign of Marathon Oil, and more
than likely growing its production figures at a rate of
knots Maverick will be more of a slow-burner.
With acreage all around Texas hotter than Texas in
July, Maverick’s game is to not add to the inflationary
pressure of the market by producing a bucket-load of
oil, and hopefully building a massive acreage position
for the best possible price.
“We hear facetious comments about Maverick’s ‘200
years of drilling’ ahead at the pace we are drilling
now,” Simmons and Henrich said.
“We don’t think Exxon or BHP loses any sleep about
having decades or more of drilling ahead. The ones
who should be losing sleep are those who do not have
decades or moe of drilling ahead.”
It figures that by going slow and steady, it may win
the race.
Source: ENP


----------



## Fantasy09 (23 June 2012)

*Re: MAD - Maverick Drilling & Exploration*

So AUT and MAD both have similar in oil reserves.  However, AUT SP is at $3.00 and 1.3 billions market cap, and MAD SP is at $1.00 and 300 millions market cap...something didn't add up


----------



## Sdajii (24 June 2012)

*Re: MAD - Maverick Drilling & Exploration*



Fantasy09 said:


> So AUT and MAD both have similar in oil reserves.  However, AUT SP is at $3.00 and 1.3 billions market cap, and MAD SP is at $1.00 and 300 millions market cap...something didn't add up




That's too simplistic a way to look at things, but you don't need to add too much more to start looking at it and draw some conclusions. Basically, it's not just about how much oil is in the ground, it's about how much it costs to get it out and how quickly it can be obtained. If one company had a cost of $50 per barrel and the other a cost of $20 per barrel, one would be getting about a 60% return on their expenses and the other about a 400% return.

If it was going to take one month to get that return it would be a lot better than if it was going to take a year or several years. Shorter recovery times also mean they can ramp production up faster if they don't already have the capital to develop their resources aggressively.

And the total reserves in the ground says how long they can do it for.

They have similar reserves, AUT gets big gushy wells and MAD gets trickly wells, but MAD's are much cheaper. MAD also gets an $18 bonus per barrel of oil, which is utterly brilliant and of more value than it gets credit for in my opinion.

Of course, there are also the technicals. AUT is the big powerhouse everyone loves and trusts, and MAD is the Johnny-come-lately people aren't so sure about. Of course, fundamentals win out in the long run, and in my opinion MAD is the better long term investment. People love to buy the sure thing and hate the new, uncertain thing (even if it's certain, they don't consider it certain until the rest of the market does : ). I'll leave the short term technicals to the experts, but the long term technicals, to me, scream "MAD is a better bet than AUT!"

I bought into AUT at about 50-60c, sold at $3.40ish, bought MAD at 21.5c average, still happily holding! Good times


----------



## mrlister (30 June 2012)

I reckon based on the massive jump in oil prices, the Europe signals, and the reserves increase announced last week,.....we are gonna see MAD push it's resistance levels to the max this week. May ever reach that 1.5 mark. But I'd prob sell there. Cos I'm sure Europe has something new waiting for us!


----------



## mrlister (18 July 2012)

MAD trading halt. capital raising 50 mill at a 13% discount 1.02. 

This stinks!!


----------



## Chasero (18 July 2012)

*Re: MAD - Maverick Drilling & Exploration*



mrlister said:


> MAD trading halt. capital raising 50 mill at a 13% discount 1.02.
> 
> This stinks!!




Lots of companies trying to raise cash atm. Honestly surprised MAD did another one so soon. (BCC just did one today as well...)


----------



## mrlister (18 July 2012)

I can only assume MAD is doing this now due to the additional resources discovered and the additional requirements for extraction.

But agree. They only raised in march.


----------



## rcm617 (18 July 2012)

*Re: MAD - Maverick Drilling & Exploration*

I'm a bit surprised too they have raised so soon, would have thought they would have waited till they had a few of the big impact targets under their belt.
According to the presentation they still had $20m in cash so that would have funded them for the next quarter.
I think they are impatient to get going on the results of the seismic.


----------



## mrlister (18 July 2012)

CR in march had a positive impact on price, along with a few other announcements. Let's hope they have a few tricks up their sleeve here too.


----------



## basilio (1 August 2012)

*Re: MAD - Maverick Drilling & Exploration*

In an awful market MAD is still powering along. That $50m capital raising looks excellent when you look at the drilling opportunities it has. There is so much upsiide with this company. 

A simple, economical, transparent  and profitable business model. 

(Just wish some other dogs could follow suit...)


----------



## buick23 (6 September 2012)

*Maverick Drilling -MAD - Don't get it?*

Hi Guys

Is anyone familiar with Maverick drilling and Exploration limited? code MAD?

I have been watching this stock for a few months - I saw it rise to 1.44 and now
seen it go down to 1.07? looks like it could continue to drop.

I thought it would take a little hit but nothing like this
Can anyone explain to me why it has taken such a downward spiral? 

I didn't buy into it, as I'm still learning so would really like to know the reasons for it?


----------



## Des P (6 September 2012)

*Re: Maverick Drilling -MAD - Don't get it?*



buick23 said:


> Hi Guys
> 
> Is anyone familiar with Maverick drilling and Exploration limited? code MAD?
> 
> ...




Go back at least 6 months and you will see this was one of the the hot tips by one of the pay for Forums
They haven't stopped harping on about it since 
You are new and so am i after twelve months
Do a lot of research and learn about fundamentals and Technical annalist
This should help you
there is plenty on this web to teach you
Hope somebody can give you a more direct answer to your question
Cheers
Des P


----------



## oldblue (6 September 2012)

*Re: MAD - Maverick Drilling & Exploration*

Important to remember that MAD was trading around 20c as recently as February! Meteoric rise on the back of a recommendation by Motley Fool who pointed out that this was a very "cheap" price if one valued the company on a 2P reserve basis. Some would argue that not overpriced at current levels on that basis but as with all stocks that soar there is potential to fluctuate wildly as profits get taken. Add in the nervous state of today's market and you still have a highly speculative stock, but then, that's the nature of most o and g stocks!


----------



## jancha (6 September 2012)

*Re: MAD - Maverick Drilling & Exploration*



mrlister said:


> MAD trading halt. capital raising 50 mill at a 13% discount 1.02.
> 
> This stinks!!




Why does it stink? You'll get it at a cheaper price on the market.


----------



## rcm617 (6 September 2012)

*Re: MAD - Maverick Drilling & Exploration*

12% of shares in the company are coming out of escrow on monday, shareholders might be worried that a percentage of these will be dumped on the market next week.
Still cheap on a  1P and 2P reserve basis, but with the drop back in production while they filled their contract drilling orders whilst interpreting their recent seismics, they will have to lift production substantially to justify their market cap.
With four drilling rigs now operating shouldnt be long to see the results, including some of their high impact targets.


----------



## oldblue (6 September 2012)

*Re: MAD - Maverick Drilling & Exploration*



jancha said:


> Why does it stink? You'll get it at a cheaper price on the market.




Ah, hindsight is a wonderful investment tool!



But at the time of the placement, $1.02 was a nice discount to market price and a lot of shareholders would have liked the opportunity to participate. Or so I'm told!


----------



## jancha (7 September 2012)

*Re: MAD - Maverick Drilling & Exploration*



oldblue said:


> Ah, hindsight is a wonderful investment tool!
> 
> 
> 
> But at the time of the placement, $1.02 was a nice discount to market price and a lot of shareholders would have liked the opportunity to participate. Or so I'm told!




Hmmm Yes Oldblue but how often is that the case when you can pick it up at a lower cost after?


----------



## rcm617 (3 October 2012)

*Re: MAD - Maverick Drilling & Exploration*

Gulf South Holdings signed an MOU with MAD to buy into their shallow salt dome drilling. Effectively they are paying 5 times the value for 1P reserves that MAD is valued at.
This should allow MAD to rapidly expand production without monetary constraints as GSH are paying the full cost of the wells for a 25% interest.


----------



## jancha (29 November 2012)

*Re: MAD - Maverick Drilling & Exploration*

Rather large volume trading (17mil) Closed basically where it opened suggesting a few stops have been triggered? Or could be the current well being drilled.
Whatever the reason those that didn't get on board with the last placement at $1.02 should rubbing their hands together or just thankful they didn't have that opportunity to buy in then. 


		





----------



## ParleVouFrancois (29 November 2012)

*Re: MAD - Maverick Drilling & Exploration*

Read the announcement out today, the range of the warrants is from 96 cents to 75 cents, 75 cent curiously being the low of the day as well, which strongly suggests that the selling was forced.


----------



## jancha (30 November 2012)

*Re: MAD - Maverick Drilling & Exploration*



ParleVouFrancois said:


> Read the announcement out today, the range of the warrants is from 96 cents to 75 cents, 75 cent curiously being the low of the day as well, which strongly suggests that the selling was forced.




Starting to look that way with a close of 90c today and back in positive territory.
Just market jitters atm with the fiscal cliff.  Once that's sorted out there should be a rebound to a few of the stocks.
Sooner thats sorted the better.


----------



## jancha (6 December 2012)

*Re: MAD - Maverick Drilling & Exploration*

Maverick starting to look good with supply and demand. Up 8% as i speak.


----------



## ParleVouFrancois (7 December 2012)

*Re: MAD - Maverick Drilling & Exploration*

A bit of settling of nerves after the mini's getting smashed a day or two before the JV finalization was due to be announced... Now that it's all said and done and completed, nothing to worry about in the short term for Maverick, I was watching the trading all day today (nothing too do and bloody hot in Darwin), and the supply of sellers just dried up, whereas the buyers slowly trickled in all day.

Hopefully another nice relaxing day tomorrow as well!


----------



## jancha (7 December 2012)

*Re: MAD - Maverick Drilling & Exploration*



ParleVouFrancois said:


> A bit of settling of nerves after the mini's getting smashed a day or two before the JV finalization was due to be announced... Now that it's all said and done and completed, nothing to worry about in the short term for Maverick, I was watching the trading all day today (nothing too do and bloody hot in Darwin), and the supply of sellers just dried up, whereas the buyers slowly trickled in all day.
> 
> Hopefully another nice relaxing day tomorrow as well!




 Cav for a cold beer wouldn't be a bad idea!! 
MAD on the Charts are looking good but we'd need an expert like Tech or co to confirm.


----------



## Sdajii (8 December 2012)

*Re: MAD - Maverick Drilling & Exploration*

MAD is in the ASX 200! Quite a surprise, but a good one.

I'd be interested to hear what someone like Tech/A thinks of the chart at the moment. It looks a bit ambiguous to me. The trend was down but the last week and a bit look like something different is going on. It could be just that things are going back to the old trend after the stop losses were triggered and caused too big a drop last week, and it looks like a recovery, or maybe it actually is some sort of new pattern. 

Either way I can't see too much positive movement without production increase, but if the fundamentals are sound that's just a matter of time.


----------



## jancha (19 December 2012)

*Re: MAD - Maverick Drilling & Exploration*

I thought Mavericks announcement out today was quite positive with Production trending up as a result employing an additional 10 members to their operational team.
 Everything looks positive on the surface with MADs POO at $102 per barrel yet market is selling down on this.
Is it because i just happen to get on board in MAD (lol) or could there be another reason for it's down trend.
 Any thoughts?


----------



## Sdajii (19 December 2012)

*Re: MAD - Maverick Drilling & Exploration*



jancha said:


> I thought Mavericks announcement out today was quite positive with Production trending up as a result employing an additional 10 members to their operational team.
> Everything looks positive on the surface with MADs POO at $102 per barrel yet market is selling down on this.
> Is it because i just happen to get on board in MAD (lol) or could there be another reason for it's down trend.
> Any thoughts?




Scepticism and bad technicals (that's clear even to a crappy tech/a like me). The drop in production to around 500BOPD when expectation was for a rapid increase towards double that and then beyond was a clear confidence killer. Production is going to have to continue to increase for another month or few before confidence returns.

Management used to have a reputation of underpromising and overdelivering. This year they've reversed that reputation, and that's difficult damage to undo. If everything in the presentation is true and accurate we'll be looking good in 2013, but we probably have at least another month or two without much excitement.


----------



## jancha (19 December 2012)

*Re: MAD - Maverick Drilling & Exploration*



Sdajii said:


> Scepticism and bad technicals (that's clear even to a crappy tech/a like me). The drop in production to around 500BOPD when expectation was for a rapid increase towards double that and then beyond was a clear confidence killer. Production is going to have to continue to increase for another month or few before confidence returns.
> 
> Management used to have a reputation of underpromising and overdelivering. This year they've reversed that reputation, and that's difficult damage to undo. If everything in the presentation is true and accurate we'll be looking good in 2013, but we probably have at least another month or two without much excitement.




Yes it looks as if it hasn't found it's bottom yet as far as sp goes and looks like it will be awhile before the old highs return. MAD announced an increase in production for December so hopefully they'll go back to their old ways and over deliver. It will be interesting to read MADs next Quarterly.


----------



## explod (19 December 2012)

*Re: MAD - Maverick Drilling & Exploration*



jancha said:


> Yes it looks as if it hasn't found it's bottom yet as far as sp goes and looks like it will be awhile before the old highs return. MAD announced an increase in production for December so hopefully they'll go back to their old ways and over deliver. It will be interesting to read MADs next Quarterly.




MAD was the almost perfect story and made some from trading it myself.

However the trend is all down so one to be away from.

On US soil you can be sure they do not like someone from outside coming in and showing them how it is done.  It reeks of shorting and manipulation and you can be sure that someone in the US will accumulate in this trading to take it all away from us in due course.

It was a great party whilst it lasted but the game in my view is probably over.


----------



## jancha (19 December 2012)

*Re: MAD - Maverick Drilling & Exploration*



explod said:


> MAD was the almost perfect story and made some from trading it myself.
> 
> However the trend is all down so one to be away from.
> 
> ...




Interesting thoughts explode. You think a T/O down the track? How did AUT survive then?


----------



## jancha (20 December 2012)

*Re: MAD - Maverick Drilling & Exploration*

Reluctantly out of MAD. Oh the pain. Being in the same sector and area why does AUT rise in price while MAD continues to fall. Doesn't make any sense. Yesterdays announcement was showing a considerable increase in production and yet this. Oh well back to the drawing board.


----------



## Sdajii (21 December 2012)

*Re: MAD - Maverick Drilling & Exploration*



jancha said:


> Reluctantly out of MAD. Oh the pain. Being in the same sector and area why does AUT rise in price while MAD continues to fall. Doesn't make any sense. Yesterdays announcement was showing a considerable increase in production and yet this. Oh well back to the drawing board.




MAD and AUT are very different. Different geology, methods, strategy. Difference size. Different stage. One is a well established producer, one is an explorer/early producer which unexpectedly had a dramatic drop in production when a dramatic rise was expected/promised.

The announcement said production had increased, but only back to around where they were a few months ago, and nowhere near where we were expecting to be by now.

If the fundamentals are good the price shouldn't go too much lower (they'll be able to find excuses to give us some happy news or point out necessary bits and pieces). If you think management is deceiving us, run away.


----------



## jancha (21 December 2012)

*Re: MAD - Maverick Drilling & Exploration*

Maverick had some heavy trading at the close of day something like 12mil traded. Wonder who's dumping and why. Seller or sellers haven't finished yet so be interesting to see how low this can go? Support around the 70c but if that get broken where to next. Surely Mavericks last announcement wasn't the reasoning behind this dump.


----------



## jancha (27 December 2012)

*Re: MAD - Maverick Drilling & Exploration*

Interesting watching MAD last few weeks of trading. Bit of a bounce of 11% today. May have found it's support and starting a rebound. A bit early to tell if it's going to trend up. imo.
Where's that annoying duck when needed?


----------



## jancha (27 December 2012)

*Re: MAD - Maverick Drilling & Exploration*



jancha said:


> Interesting watching MAD last few weeks of trading. Bit of a bounce of 11% today. May have found it's support and starting a rebound. A bit early to tell if it's going to trend up. imo.
> Where's that annoying duck when needed?




Bought back in on close @ 77c. Supply seems to be falling away.


----------



## mr. jeff (14 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



jancha said:


> Interesting watching MAD last few weeks of trading. Bit of a bounce of 11% today. May have found it's support and starting a rebound. A bit early to tell if it's going to trend up. imo.
> Where's that annoying duck when needed?




technically not looking good, and I agree with the frustration, in a similar position is RFE, but there it is actually appearing to be on the way to breaking the long standing trading range to the upside... worth a look  perhaps.


----------



## jancha (15 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



mr. jeff said:


> technically not looking good, and I agree with the frustration, in a similar position is RFE, but there it is actually appearing to be on the way to breaking the long standing trading range to the upside... worth a look  perhaps.




Hope your right on the upside Mr Jeff.
Fundamentally Maverick have 166 new wells being drilled between 1st of Sept 2012 to the 20th of August 2013 increasing in production with both new wells and bringing existing wells back on line. Since it's decline in share price wells and production have increased not deceased. MAD are also in a stronger cash position than before to fund future developement yet the sp has more than halved!
 Unless the market were expecting bigger and better things from Maverick i cant understand why the market has more than halved it's sp. Hopefully for whatever the reasoning behind this sell down your correct in saying there looks like an upside to it technically.


----------



## frankie_boy (16 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



jancha said:


> Hope your right on the upside Mr Jeff.
> Fundamentally Maverick have 166 new wells being drilled between 1st of Sept 2012 to the 20th of August 2013 increasing in production with both new wells and bringing existing wells back on line. Since it's decline in share price wells and production have increased not deceased. MAD are also in a stronger cash position than before to fund future developement yet the sp has more than halved!
> Unless the market were expecting bigger and better things from Maverick i cant understand why the market has more than halved it's sp. Hopefully for whatever the reasoning behind this sell down your correct in saying there looks like an upside to it technically.




I believe its time to accumulate...


----------



## systematic (16 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



mr. jeff said:


> technically not looking good




I agree with mr. jeff.  I have MAD as not looking at all good from either a momentum or a value perspective.


----------



## prawn_86 (16 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



systematic said:


> I agree with mr. jeff.  I have MAD as not looking at all good from either a momentum or a value perspective.




Can you please provide some analysis as to why you think this?


----------



## systematic (16 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



prawn_86 said:


> Can you please provide some analysis as to why you think this?




Hey prawn_86,

For me...

- MAD is in the bottom of the pack on value (i.e. very expensive)
- Middle of the pack on momentum
- Unable to make a new momentum high since about 9 months ago
- Falling momentum about 2 months ago...
- ...which has continued (a new low yesterday)

For me, MAD (as an individual trade), could reverse tomorro and double in price (and if you own it I hope it does!)...but it's not the _type_ of stock I want to be adding to my portfolio.


----------



## jancha (21 January 2013)

*Re: MAD - Maverick Drilling & Exploration*

Maverick joint venture with Gulf South (33% working interest) doesn't sound too bad considering they receive $333,333 US for every well drilled and Mavericks low cost of drilling which is around $250,000 a well gives them a profit of $83,000 even before they start on their working interests. Better than a capital raising and dilution of the shares. Down again today @ 62c. Boy oh boy the stock picking comp aint looking too good atm.. Top last month and now bottom of the barrel


----------



## jancha (23 January 2013)

*Re: MAD - Maverick Drilling & Exploration*

Well Maverick continues to fall as low as 57.5c.
I noticed a large X trade of 620,000...Can an insitute sell to another back and forth? 
Just wondering whether the market can be manipulated by this.


----------



## Trembling Hand (23 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



jancha said:


> Well Maverick continues to fall as low as 57.5c.
> I noticed a large X trade of 620,000...Can an insitute sell to another back and forth?
> Just wondering whether the market can be manipulated by this.






How the @#$% would that work?


----------



## oldblue (23 January 2013)

*Re: MAD - Maverick Drilling & Exploration*

I guess the theory would be that two friendly parties could arrange a "sale" between themselves at a price above ( or below) prevailing market levels in an attempt to nudge the SP up ( or down).

Can't see it in this case. The market is too liquid for that - over 3m shares traded so far today - and 600k or so is hardly big enough to be effective.


----------



## Trembling Hand (23 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



oldblue said:


> I guess the theory would be that two friendly parties could arrange a "sale" between themselves at a price above ( or below) prevailing market levels in an attempt to nudge the SP up ( or down).




Are you guys serious? Is this really your thought process when you see a cross trade? 

Exactly how does one trade "above ( or below) prevailing market levels".


----------



## skc (23 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



Trembling Hand said:


> How the @#$% would that work?




When the share price goes against the direction I am trading, it is being manipulated.

The more it goes against me, the more it is being manipulated.

Cos we all know that the instos who manage $billions need to feast off retail traders who trade $thousands.

No further proof or rational thoughts are necessary.


----------



## basilio (23 January 2013)

*Re: MAD - Maverick Drilling & Exploration*

Just cannot understand why MAD has fallen so badly  since August 2012  

Perhaps it was a bit over bought - bit not to the tune of dropping from $1.40 to 56c . Its either an absolute bargain or something  seriously wrong is happening.


----------



## rcm617 (23 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



basilio said:


> Just cannot understand why MAD has fallen so badly  since August 2012
> 
> Perhaps it was a bit over bought - bit not to the tune of dropping from $1.40 to 56c . Its either an absolute bargain or something  seriously wrong is happening.




Certainly is getting very cheap. Until there is a bit of news on a step up in drilling and subsequent increase in oil production, can't see that to many (me included) will buy back in.
 I think they made a serious mistake in letting production slip below 500bopd, and as yet haven't seen to much evidence of a step up in drilling activity to remedy the situation.


----------



## jancha (23 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



basilio said:


> Just cannot understand why MAD has fallen so badly  since August 2012
> 
> Perhaps it was a bit over bought - bit not to the tune of dropping from $1.40 to 56c . Its either an absolute bargain or something  seriously wrong is happening.




Yes thats why i brought up if there is a possibility of manipulation between insitutes trading together.

Looking at the last ASX price and volume query sent late November. The CFO and secretary of Maverick stated he was aware of warrant products with stop loss ranges between .96c to .75c which he thought may have been triggered and the reasoning for the fall in price at the time.
He also stated (this is where i think the problem lies) that the $50mil that was raised back then from sophisticated investors @ $1.02 (i think a few here were complaining they didn't get a bite of the cherry at the time) was being used to fund high impact wells. At the time one of those wells was in the process of being drilled. Now they would have to had drilled a few of these by now and maybe the results aren't too flash and unlike other wells Gulf South dont have any working interest with these well so no $333,333 towards the cost of them.


----------



## McLovin (23 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



jancha said:


> Yes thats why i brought up if there is a possibility of manipulation between insitutes trading together.




Read what sxc wrote. Find me an insto that can be bothered playing around with a $250m company that trades a few million dollars/day. All that work to maybe add 0.001% return to their portfolio. It wouldn't even cover the salary of the guy who is supposedly coming up with these ideas.


----------



## jancha (23 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



McLovin said:


> Read what sxc wrote. Find me an insto that can be bothered playing around with a $250m company that trades a few million dollars/day. All that work to maybe add 0.001% return to their portfolio. It wouldn't even cover the salary of the guy who is supposedly coming up with these ideas.




sxc?


----------



## Trembling Hand (23 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



McLovin said:


> Read what [EDIT] Skc wrote. Find me an insto that can be bothered playing around with a $250m company that trades a few million dollars/day. All that work to maybe add 0.001% return to their portfolio. It wouldn't even cover the salary of the guy who is supposedly coming up with these ideas.






skc said:


> When the share price goes against the direction I am trading, it is being manipulated.
> 
> The more it goes against me, the more it is being manipulated.
> 
> ...




Skc.


----------



## jancha (23 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



McLovin said:


> Read what sxc wrote. Find me an insto that can be bothered playing around with a $250m company that trades a few million dollars/day. All that work to maybe add 0.001% return to their portfolio. It wouldn't even cover the salary of the guy who is supposedly coming up with these ideas.




Fair enough but what if a company had hugh potential with a small market cap wouldn't be nice to accumulate it at a ridiculously low cost?
 AUT as example: Would you class that as one that insitutes wouldn't be bothering with when it was 49c?


----------



## Trembling Hand (23 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



jancha said:


> Fair enough but what if a company had hugh potential with a small market cap wouldn't be nice to accumulate it at a ridiculously low cost?
> AUT as example: Would you class that as one that insitutes wouldn't be bothering with when it was 49c?




How do they manipulate the price with a cross trade?


----------



## jancha (23 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



Trembling Hand said:


> How do they manipulate the price with a cross trade?




Is it not possible to sell a large number of shares to trigger stop losses and buy them back?


----------



## McLovin (23 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



jancha said:


> Fair enough but what if a company had hugh potential with a small market cap wouldn't be nice to accumulate it at a ridiculously low cost?
> AUT as example: Would you class that as one that insitutes wouldn't be bothering with when it was 49c?




Hindsight is 20/20.

If they weren't looking, they wouldn't have found it. And they don't look.


----------



## Trembling Hand (23 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



jancha said:


> Is it not possible to sell a large number of shares to trigger stop losses and buy them back?




Give it a go then. 

For a start a cross trade happens OFF MARKET and is an agreement between two parties. Very simple. No effect on market price.

The idea that you can smash a market by selling a huge position may effect the price but then what? Really think about it and answer me please! You are short and now have to buy the exact same amount back just to get to even, before you can even start accumulating!!!

So if selling 1,000,000 shares moves the price down 20% please answer me this how much is it going to move it up when you repurchase the 1,000,000 shares to get back just to flat? And when everyone sees your orders to buy back what you just sold what the hell are all the traders going to do?


----------



## jancha (23 January 2013)

*Re: MAD - Maverick Drilling & Exploration*

Sorry cross trade. Isn't the market influence by large sells? I realize that someone also has to buy them at the other end. 600,000 isn't a large sell for a cross trade but for Maverick on a downtrend i took notice. There hasn't been too many large sells of that volume in one trade of late.
 Just watching and i'm not saying that insitutes large or small are behind the sell just enquiring so keep your skirts on. 
Tho i wonder how many insitutes would have like to have bought up big on AUT. I think JP Morgan jumped on board with 20mil later on. A month prior to that I spoke to a chap who worked for them as i wanted to do a cross trade. He hadn't even heard of AUT or the eagle ford shale at the time. My point is Mclovin why wouldn't an insitute manipulate if it could knowing it had the same potential?  
And are you saying smaller insitutes wouldn't be bothered it either?


----------



## Trembling Hand (23 January 2013)

*Re: MAD - Maverick Drilling & Exploration*

Jancha how does one insto "manipulate" it when they are competing against the others? 

Do the exercises? To make a stock fall you have to sell it. Once you have sold it then what? You don't own it or worst are now short and transferred the ownership to another insto, your competitor? *How is that going to help you?*


----------



## jancha (23 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



Trembling Hand said:


> Jancha how does one insto "manipulate" it when they are competing against the others?
> 
> Do the exercises? To make a stock fall you have to sell it. Once you have sold it then what? You don't own it or worst are now short and transferred the ownership to another insto, your competitor? *How is that going to help you?*




A lot of traders trade on a technical basis. If thats true then why can't an insitute trigger a down trend and accumulate it back slowly at a lower cost.
The reason why i'm asking if this is possible is because of Mavericks share price of 57c. 
Surely they're in a better position than they were a year ago? Perhaps the Market was expecting more i dont know. 
Maybe you could shed some light on why it's being sold down then instead of asking me to do the maths on manipulation?


----------



## skyQuake (24 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



jancha said:


> A lot of traders trade on a technical basis. If thats true then why can't an insitute trigger a down trend and accumulate it back slowly at a lower cost.
> The reason why i'm asking if this is possible is because of Mavericks share price of 57c.
> Surely they're in a better position than they were a year ago? Perhaps the Market was expecting more i dont know.
> Maybe you could shed some light on why it's being sold down then instead of asking me to do the maths on manipulation?





Well lets see this month's total shares traded:
*
39m traded

5 Biggest sellers (m):*
Shaw 3.9
Macq insto 2.5
UBS 1
CS 1
CCZ statton -0.5
*
5 Biggest buyers (m):*
Commonwealth 2.5
Bell potter 2.2
AIEX 1.8
RBS 0.8
CMC markets 0.7

5 biggest sellers sold 9m shares
5 biggest buyers bought 8m shares
Does that tell me anything? Nope.
Biggest buyers were commsec and bell, ie retail.
Lots of instos selling. Does this tell me anything? YES!


----------



## CanOz (24 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



skyQuake said:


> Well lets see this month's total shares traded:
> *
> 39m traded
> 
> ...




LOL...Priceless!


----------



## Vader (24 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



jancha said:


> A lot of traders trade on a technical basis. If thats true then why can't an insitute trigger a down trend and accumulate it back slowly at a lower cost.
> The reason why i'm asking if this is possible is because of Mavericks share price of 57c.
> Surely they're in a better position than they were a year ago? Perhaps the Market was expecting more i dont know.
> Maybe you could shed some light on why it's being sold down then instead of asking me to do the maths on manipulation?




Announcements over the past couple of months provide some clues, not all have been good news.

...just to highlight how they've started to disappoint some of what has been hyped up - in their AGM presentation (16th Nov), their drilling program talked about them drilling their first High Impact Target (Groce #305) currently being drilled. They mentioned that drill hole a few times in the announcement... yes, it's only one hole and there will be plenty more to come, but it was their first target and obviously had some hope riding on it.

...then when they announced the details of the JV agreement (3rd Dec), at the bottom of the announcement they mentioned that Groce #305 had been drilled, did not encounter any hydrocarbons and was plugged (it wasn't low volumes, but bone dry... not really what investors wanted to see from their first high impact drill target).

The December quarterly report is going to be interesting reading (due out Jan 31st)... the higher sell off in the last few weeks could be indicating they don't expect too much from that - will there be a price recovery once that report comes out? or will it cause further sell off (or will that already be factored in by the time the report comes out)?

Interesting times, and all they need to do is find some oil in their drill holes and the price will undoubtedly shoot right back up... but drilling empty holes isn't really what investors want to see... they need to find more of that black stuff.


----------



## tinhat (24 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



skyQuake said:


> Well lets see this month's total shares traded:
> *
> 39m traded
> 
> ...




Hi, where do you source this information from? Is it freely available? I do not know how to source such information.


----------



## Trembling Hand (24 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



tinhat said:


> Hi, where do you source this information from? Is it freely available? I do not know how to source such information.




Broker codes are available 5 days (or is it 3) after the close of trade. But you cannot get it from data suppliers like commsec!


----------



## Trembling Hand (24 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



jancha said:


> A lot of traders trade on a technical basis. If thats true then why can't an insitute trigger a down trend and accumulate it back slowly at a lower cost.




When arguing with an idiot for too long it becomes hard to see which one is the idiot.

I'll leave you too it.


----------



## Gringotts Bank (24 January 2013)

*Re: MAD - Maverick Drilling & Exploration*

Extreme prolonged selling can trigger extreme buying.  Opportunity for a bounce soon i think.  Interesting stock to watch right now.  The instos will finish selling at some point, then it's just retailers leap frogging over each other without bots to slow the action>>> price rise++.


----------



## jancha (24 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



Trembling Hand said:


> When arguing with an idiot for too long it becomes hard to see which one is the idiot.
> 
> I'll leave you too it.





So who's arguing with you Trembling Hand? It was a question not a statement. 
Are you saying that Institutes cant manipulate the market? eg short selling triggering stop losses ect? 
Try to restrain yourself from personal attacks old timer. School yard stuff remember. Practice what you preach.
I'll understand if you cant answer that on the pretence of your last response. 


Now at least the thread has a few interesting comments and a breath of life in it. 

Biggest buyers were commsec and bell, ie retail.
 Lots of instos selling. Does this tell me anything? YES!

Thanks Skyquake didn't know you could find who's buying and selling.
It maybe obvious to some but whats the difference between retailers buying and institutes selling?


----------



## McLovin (24 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



jancha said:


> It maybe obvious to some but whats the difference between retailers buying and institutes selling?




Smart money selling to dumb money.


----------



## CanOz (24 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



McLovin said:


> Smart money selling to dumb money.




Yeah, i was going to say that the ones that created the demand by absorbing the supply in the first place, are providing supply once again. Accumulation to distribution.

OR

See Mclovin's reply...

CanOz


----------



## explod (24 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



McLovin said:


> Smart money selling to dumb money.




The very smart money jumped out in September.  Look at the volume on the 12 month weekly.

http://bigcharts.marketwatch.com/ad...rsToggle=false&chartStyleToggle=false&state=9

Good trend followers probably dropped out at the end of August, look at the pointing tails (of the fish about to dive) in those three weeks.

There is no indication that this would be a buy ATM.   JMHO DYOR


----------



## Trembling Hand (24 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



jancha said:


> Biggest buyers were commsec and bell, ie retail.
> Lots of instos selling. Does this tell me anything? YES!




LOL! I just cannot help myself. 

They are selling DOWN their holdings.  

1.*So now what? They don't own it. *

2. How has that helped them? 

3. So this is all and only for manipulation is it? 


Would love to know your response to the three points.


----------



## jancha (24 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



Trembling Hand said:


> LOL! I just cannot help myself.
> 
> They are selling DOWN their holdings.
> 
> ...





 Skyquakes post on who's buying and selling Maverick shows that Institudes aren't buying so no.
So laughing boy can you answer the question regarding to Institutes manipulating the market.
Is it possible? 
You seem to forget that this a question not a statement.
The idea behind the initial question was purely about Mavericks share price and the reasons why it's down as low as 50c (as of today) and if manipulation was a possiblity.


----------



## Trembling Hand (24 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



jancha said:


> Skyquakes post on who's buying and selling Maverick shows that Institudes aren't buying so no.
> So laughing boy can you answer the question regarding to Institutes manipulating the market.
> Is it possible?
> You seem to forget that this a question not a statement.
> The idea behind the initial question was purely about Mavericks share price and the reasons why it's down as low as 50c (as of today) and if manipulation was a possiblity.




Ok lets assume that an institution can easily manipulate the share price of MAD. Firstly can you tell me who the insto compete against? 

A. retail traders.
B. other insto's
C. both?


----------



## explod (24 January 2013)

*Re: MAD - Maverick Drilling & Exploration*

Today looks like the final shakeout, volume is up and a low of .505 tested.  

An open a few cents above today's close should be confirmation.


----------



## jancha (24 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



Trembling Hand said:


> Ok lets assume that an institution can easily manipulate the share price of MAD. Firstly can you tell me who the insto compete against?
> 
> A. retail traders.
> B. other insto's
> C. both?




Both
Question with a question
Can the market be manipulated by institutes? Two working together? One selling the market down triggering stop losses the other buying them back?
Now before you fall off your chair laughing is just a question so instead of prolonging this by asking me questions just answer my question: One more time now do you think it is possible for institutes to manipulate the market?
 Then we can resume sticking to the topic of the thead.


----------



## Trembling Hand (24 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



jancha said:


> Both




Ok Cool now we are getting some where. So insto compete against other insto.

If Insto A sells down there holdings to manipulate the share price down below what they consider "value" what is insto B, C, D, E, G, F...Z, AA1, AA2... ZZ1, ZZ2, ZZ3 etc going to do????

They will be buying it. ALL of it. Which will then leave Insto A with a loss and no stock or even worst SHORT.

What will they have to do Now? Buy back. Now if the price of MAD is so easily manipulated what is insto B, C, D, E, G, F...Z, AA1, AA2... ZZ1, ZZ2, ZZ3 going to do now they have their fill AND knowing that who just sold needs to buy back? they will front run Insto A and make him pay a much higher price.

Remember its a friggin hard game and its very hard to find someone who HAS TO BUY and HAS TO BUY Lots. For every 1 insto thats trying to "manipulate" a price there are 100 more looking to use that if to beat them.

Why would 1 insto take a big hit to improve their competitors performance?


----------



## skyQuake (24 January 2013)

*Re: MAD - Maverick Drilling & Exploration*

Data is with IRESS fwiw.

As for the above, if an insto/instos tried to manipulate a stock down and take out stops, they'd hit it early and hit it hard to crack an important level. 
Then you'd see lots of retail selling as they get stopped out etc.

In this case, theres been lots of retail BUYING. Lots of bottom pickers getting a fantastic "bargain."

The biggest sellers have been consistently selling for a while, which means they're dumping for a client/clients.

Agree explod, it'll probably be a buy tomorrow if it can hold today's close.


----------



## jancha (24 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



McLovin said:


> Smart money selling to dumb money.




So why is it smart money vs dumb money anyway?
Are you saying that the Commonwealth and Bell Potter are dumb in buying up Maverick?
I guess i must be dumb then. I'm waiting for it!!


----------



## prawn_86 (24 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



jancha said:


> So why is it smart money vs dumb money anyway?
> Are you saying that the Commonwealth and Bell Potter are dumb in buying up Maverick?
> I guess i must be dumb then. I'm waiting for it!!




Instead of using smart and dumb you could use sophisticated vs unsophisticated. One would assume that investment banks/institutions may have the inside word or knowledge and there is some reason that more than one sophisticated institution is selling down there holdings.

It is not Commonwealth and Bell Potter themselves who are buying, it is them buying on behalf of their clients, ie retail punters.


----------



## McLovin (24 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



jancha said:


> So why is it smart money vs dumb money anyway?
> Are you saying that the Commonwealth and Bell Potter are dumb in buying up Maverick?
> I guess i must be dumb then. I'm waiting for it!!




Two of the biggest retail brokers are the ones doing the buying and the insto desks are selling. Connect the dots.

Not saying you're dumb.


----------



## jancha (24 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



prawn_86 said:


> Instead of using smart and dumb you could use sophisticated vs unsophisticated. One would assume that investment banks/institutions may have the inside word or knowledge and there is some reason that more than one sophisticated institution is selling down there holdings.
> 
> It is not Commonwealth and Bell Potter themselves who are buying, it is them buying on behalf of their clients, ie retail punters.




Thanks for a normal response prawn
The likes of Bell Potter would however be advising clients to buy or would most of their clients make their own decisions? I suppose its not their money but they wouldn't have too many clients if they're ill advised.

Trembling Hand Thanks for your thoughts on market manipulation within institutes. That all i was asking from you.
In regard to who's buying and who's selling is there a site or subscriber for this data?


----------



## McLovin (24 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



jancha said:


> Thanks for a normal response prawn
> The likes of Bell Potter would however be advising clients to buy or would most of their clients make their own decisions? I suppose its not their money but they wouldn't have too many clients if they're ill advised.




Most of the trades are probably from Bell Direct which is execution only. I wouldn't put the average adviser in the "smart money" camp either. Maybe I'm being too cynical.


----------



## jancha (24 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



McLovin said:


> Most of the trades are probably from Bell Direct which is execution only. I wouldn't put the average adviser in the "smart money" camp either. Maybe I'm being too cynical.




Speaking of being cynical and i know i'm getting further away from the topic of MAD but i wonder if some Brokers advise smaller share holders on their books to sell or buy in order to look after their bigger clients?

From a technical perspective on MAD closing at 59.5c with larger than normal volume would you say that if tomorrows trade closes above todays it would signal a comfirmation of a buy or would the close and actions of todays trade have already been technically a comfirmed buy signal?


----------



## Trembling Hand (24 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



jancha said:


> From a technical perspective on MAD closing at 59.5c with larger than normal volume would you say that if tomorrows trade closes above todays it would signal a comfirmation of a buy or would the close and actions of todays trade have already been technically a comfirmed buy signal?




"confirmation " is a misleading term. All it means in a T/A perspective is that your buy *condition *has triggered. It actually doesn't mean that it is a "good" buy.

So there is no answer to your question.


----------



## explod (24 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



prawn_86 said:


> Instead of using smart and dumb you could use sophisticated vs unsophisticated. One would assume that investment banks/institutions may have the inside word or knowledge and there is some reason that more than one sophisticated institution is selling down there holdings.
> 
> It is not Commonwealth and Bell Potter themselves who are buying, it is them buying on behalf of their clients, ie retail punters.




Good points.  

Selling also happens when someone sees a better opportunity elsewhere; or  

if on margin (borrowed funds) and the price drops the holder either has to come up with more of his own cash or sell down.


----------



## jancha (24 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



Trembling Hand said:


> "confirmation " is a misleading term. All it means in a T/A perspective is that your buy *condition *has triggered. It actually doesn't mean that it is a "good" buy.
> 
> So there is no answer to your question.




Well i'll put it another way then. In your view would the buy signal have been triggered given the volume and the close of today actions or would your buy trigger be confirmed by the market closing higher than todays close tomorrow?


----------



## Trembling Hand (24 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



jancha said:


> Well i'll put it another way then. In your view would the buy signal have been triggered given the volume and the close of today actions or would your buy trigger be confirmed by the market closing higher than todays close tomorrow?






How long is a piece of string?


----------



## jancha (24 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



Trembling Hand said:


> How long is a piece of string?




Oh you are soo funny!!!!
I'm sure there are some Tech analyst out there that have a sensible approach in reading the charts without a dumb response such as yours Trembling Hand.
By the way where in the dictionary does "Comfirmation" mean a good buy?


----------



## Trembling Hand (25 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



jancha said:


> Oh you are soo funny!!!!
> I'm sure there are some Tech analyst out there that have a sensible approach in reading the charts without a dumb response such as yours Trembling Hand.
> By the way where in the dictionary does "Comfirmation" mean a good buy?




Dumb response?! Mate read what I said. *There is no such think as T/A confirmation which you are trying to shoehorn into yesterdays bar.* You only have a set up that triggers a confirmed set of conditions. That could be a hundred thousand different things. But they are all irrelevant. Where someone has their trigger for their T/A is different from the next dude trading the same setup. Just Google "hammer technical analysis setup" for yesterdays bar and see for yourself the 4,840,000 possible different articles!! 

What you are asking is what is the best colour!! Clearly there is no answer. Only personal opinions. None are going to help you with this crap stock your are holding cus the insto are going to manipulate it until you spew it up.


----------



## jancha (25 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



Trembling Hand said:


> Dumb response?! Mate read what I said. *There is no such think as T/A confirmation which you are trying to shoehorn into yesterdays bar.* You only have a set up that triggers a confirmed set of conditions. That could be a hundred thousand different things. But they are all irrelevant. Where someone has their trigger for their T/A is different from the next dude trading the same setup. Just Google "hammer technical analysis setup" for yesterdays bar and see for yourself the 4,840,000 possible different articles!!
> 
> What you are asking is what is the best colour!! Clearly there is no answer. Only personal opinions. None are going to help you with this crap stock your are holding cus the insto are going to manipulate it until you spew it up.




Whats the difference between this crap stock and RED PEN and all the other ones that your mates Tech & co analyse? If you cant form a personal opinion with yesterdays price and volume on MAD then dont bother answering.
 The only thing i'll regurgitate will be you and your comments.


----------



## Trembling Hand (25 January 2013)

*Re: MAD - Maverick Drilling & Exploration*

I love these stock threads. Desperate people use them for reassurance for there own crappy trading decisions and when they dont get reply's that help they sook and start getting all antsy.



jancha said:


> Whats the difference between this crap stock and RED PEN and all the other ones that your mates Tech & co analyse? If you cant form a personal opinion with yesterdays price and volume on MAD then dont bother answering.
> The only thing i'll regurgitate will be you and your comments.




I don't need to have an opinion about MAD as *I was trying to point out how dumb your confirmation question was.* But never mind. Carry on. Surely someone will have had a buy trigger yesterday, that will make you all warm and fuzzy.


----------



## jancha (25 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



Trembling Hand said:


> I love these stock threads. Desperate people use them for reassurance for there own crappy trading decisions and when they dont get reply's that help they sook and start getting all antsy.
> 
> 
> 
> I don't need to have an opinion about MAD as *I was trying to point out how dumb your confirmation question was.* But never mind. Carry on. Surely someone will have had a buy trigger yesterday, that will make you all warm and fuzzy.




You stated somewhere in the RED thread about school yard antics?
Desperate people with crappy trading decisions? Yes i do hold @ a base cost of 64.4c. Crappy decision we shall see. Desparate i dont think so but you just keep on responding to this crappy stock.
Aussie Bulls use the same term of confirmation with their buy and sell candle charts.


----------



## skyQuake (25 January 2013)

*Re: MAD - Maverick Drilling & Exploration*

what TH is trying to say many times over is *There is no such thing as confirmation*. A signal is generated, then you buy or sell. 
Does having a second signal trigger afterwards make the trade 100% foolproof? No. Because nothing in markets are certain. 

Some people will say yesterday's bar was the signal.
Some people will say today's higher high is the signal.

There is nothing in between. 

Personal testing has found waiting for "confirmation" makes your entries worse.
Also, confirmation bias.

___________________________________________

Back on topic. Good gap fill this morn, would have been worried if that gap didnt close.


----------



## jancha (25 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



skyQuake said:


> what TH is trying to say many times over is *There is no such thing as confirmation*. A signal is generated, then you buy or sell.
> Does having a second signal trigger afterwards make the trade 100% foolproof? No. Because nothing in markets are certain.
> 
> Some people will say yesterday's bar was the signal.
> ...




I got the picture on the confirmation. Each to their own trigger and yes i realize that nothing is fool proof. (Just as an Institude selling a particular share... it doesn't necessarily mean the company has run it course only that there's better money to be made elsewhere) Anyway with confirmation I was just using the same term as Aussie Bulls use on their site. I didn't suggest MAD was a good buy by using the word as T/H said or a lot of other things he or she said. (nasty small minded person) Perhaps i should have worded it differently (a chartist analyst on MADs scenarios) you know a bit of tea leave reading but T/H kinda already answered that in his usual friendly manner. As i said i do already hold and happy to hold for now.
 I'm no expert in T/A or trading but am interested others thoughts on it.
 No harm in asking is there and no need for provocation.


----------



## Trembling Hand (25 January 2013)

*Re: MAD - Maverick Drilling & Exploration*

!.....I was just trying to point out that the word Confirmation  is utterly useless as a T/A practitioner. Anyone that uses it outside of "their tested system" is not worth listening to. Yet you kept on asking is it confirmation......  .... no its a bloody Unicorn with a leprechaun dancing on its back while solving the worlds problem.

But you're lost in a sea of your own mis-information. 




Some irony in this



jancha said:


> (nasty small minded person)
> 
> 
> No harm in asking is there and no need for provocation.


----------



## jancha (25 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



Trembling Hand said:


> !.....I was just trying to point out that the word Confirmation  is utterly useless as a T/A practitioner. Anyone that uses it outside of "their tested system" is not worth listening to. Yet you kept on asking is it confirmation......  .... no its a bloody Unicorn with a leprechaun dancing on its back while solving the worlds problem.
> 
> But you're lost in a sea of your own mis-information.
> 
> ...




AND IM AGREEING IT WAS THE WRONG WORD CHOICE CANT YOU READ!!!
Back on to the normal topic eg MAD Sellers seem to be drying up but what would i know 63.5c


----------



## explod (25 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



explod said:


> Today looks like the final shakeout, volume is up and a low of .505 tested.
> 
> An open a few cents above today's close should be confirmation.




Further to my post yesterday before the close, we have *confirmation* on the candle action with healthy volume so it is a buy on my system.


----------



## tech/a (25 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



explod said:


> Further to my post yesterday before the close, we have *confirmation* on the candle action with healthy volume so it is a buy on my system.




Pretty aggressive trade Explod.

The down trend is really strong.
The reversal volume wasnt "That" impressive.
Similar to last November.

Id put it in my watchlist not my portfolio--just yet.


----------



## explod (25 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



tech/a said:


> Pretty aggressive trade Explod.
> 
> The down trend is really strong.
> The reversal volume wasnt "That" impressive.
> ...




Agree tech, it would be hard from my less frequent observations to find that many at the moment due to volatility and more short termers now prepared to take just a few cents on a trade.

No not in it, just a paper trade, once would have been in at .61 which would now be the stop and on the trend on your take could well be knocked out Monday.

My interest was fired by the difficulty noticed yesterday on this confounded word "confirmation". Prolly should mind my own business as it all depends on where each is coming from.

I am one of those faithless beasts ATM who sees the possibility that one morning soon we could wake with Wall Street down more than 20% which flows on and puts following markets into greater free fall.


----------



## tech/a (25 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



> I am one of those faithless beasts ATM who sees the possibility that one morning soon we could wake with Wall Street down more 20% which flows on and puts following markets into greater free fall.




Your in Good Company here.
Larry Williams has written around 80 pages on this actual topic with specific dates.

http://www.ireallytrade.com/forecast.html

If you want to pay for it!!--I dont.
But many stocks are displaying very similar patterns

I have found when there is a confluence in patterns *BROADLY* across the spectrum of stocks
then something is brewing and *WILL* come to a head.

This happened very clearly in 2008 when many stocks particularly in the ASX 100 showed 
Wave 5 completions. (Yeh I know Elliot Voodoo) 
But it was spot.

Equity trading is just masochistic right now in my view.
The futures guys if on the right side and able to ride it will be very very happy chaps.
Im ready as it wont come along many times in a life time.
Even 5-10 contracts could be very very lucrative!


----------



## Trembling Hand (25 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



explod said:


> we have *confirmation* on the candle action with healthy volume so it is a buy on my system.




Here perfectly illustrates the usefulness of the word Confirmation.



explod said:


> No not in it, just a paper trade, once would have been in at .61 which would now be the stop and on the trend on your take could well be knocked out Monday.
> 
> I am one of those faithless beasts ATM who sees the possibility that one morning soon we could wake with Wall Street down more than 20% which flows on and puts following markets into greater free fall.


----------



## CanOz (25 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



explod said:


> Agree tech, it would be hard from my less frequent observations to find that many at the moment due to volatility and more short termers now prepared to take just a few cents on a trade.
> 
> No not in it, just a paper trade, once would have been in at .61 which would now be the stop and on the trend on your take could well be knocked out Monday.
> 
> ...




Looks stunning in hindsight though Explod!


----------



## jancha (25 January 2013)

*Re: MAD - Maverick Drilling & Exploration*

WOW good day for MAD and I'm not bottom of the barrel in the stock picking comp either 36th.
Perhaps it can make a 100% profit like my TZN last month and put me back on top!! I dont suppose that wouldn't be asking for too much in the few remaining days in the month would it
See what Monday brings before i spew it up lol


----------



## tech/a (25 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



jancha said:


> WOW good day for MAD and I'm not bottom of the barrel in the stock picking comp either 36th.
> Perhaps it can make a 100% profit like my TZN last month and put me back on top!! I dont suppose that wouldn't be asking for too much in the few remaining days in the month would it
> See what Monday brings before i spew it up lol




I can say with absolute certainty that MAD will be flat Monday.
Price will neither rise nor fall.


----------



## Sean K (25 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



tech/a said:


> I can say with absolute certainty that MAD will be flat Monday.
> Price will neither rise nor fall.



+1. I'll agree with you just this once tech.


----------



## jancha (25 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



tech/a said:


> Pretty aggressive trade Explod.
> 
> The down trend is really strong.
> The reversal volume wasnt "That" impressive.
> ...




Take a punt on it Tech and put a stop loss in place like you did with RED only hopefully this time you'll have a better result.
Good to see you haven't left the forum


----------



## tech/a (25 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



jancha said:


> Take a punt on it Tech and put a stop loss in place like you did with RED only hopefully this time you'll have a better result.
> Good to see you haven't left the forum




Tell you what I'll do----here's my punt.
I'll bet you $500 it doesn't move--- it opens and closes at today's close.
If I lose I'll send $500 to Joe.
If I win you do!

Wanna play?


----------



## CanOz (25 January 2013)

*Re: MAD - Maverick Drilling & Exploration*

Don't they celebrate :aus: day anymore?


----------



## McLovin (25 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



CanOz said:


> Don't they celebrate :aus: day anymore?




That's the joke.

Try and keep up Can.


----------



## prawn_86 (25 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



tech/a said:


> Tell you what I'll do----here's my punt.
> I'll bet you $500 it doesn't move--- it opens and closes at today's close.
> If I lose I'll send $500 to Joe.
> If I win you do!
> ...




haha unless there is a trading halt there would be some massive odds against that bet. I'm almost tempted to take it myself


----------



## jancha (25 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



tech/a said:


> Tell you what I'll do----here's my punt.
> I'll bet you $500 it doesn't move--- it opens and closes at today's close.
> If I lose I'll send $500 to Joe.
> If I win you do!
> ...




Priceless
No i dont wanna play cause i think your right.
 After the arm wrestle tho which way will it head?


----------



## CanOz (25 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



tech/a said:


> Tell you what I'll do----here's my punt.
> I'll bet you $500 it doesn't move--- it opens and closes at today's close.
> If I lose I'll send $500 to Joe.
> If I win you do!
> ...




That could get you in some strife...How can it open if the exchange is closed? You would have lost the bet...


----------



## tech/a (25 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



CanOz said:


> That could get you in some strife...How can it open if the exchange is closed? You would have lost the bet...




Bloody law students.
Always someone who spoils my fun!


----------



## qldfrog (25 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



prawn_86 said:


> haha unless there is a trading halt there would be some massive odds against that bet. I'm almost tempted to take it myself



Joe would like it.....Open your calendar


----------



## jancha (25 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



tech/a said:


> Tell you what I'll do----here's my punt.
> I'll bet you $500 it doesn't move--- it opens and closes at today's close.
> If I lose I'll send $500 to Joe.
> If I win you do!
> ...




Yeah you would have lost as it doesnt open on a holiday. Good one even more silly than me forgetting it was a holiday.
Bit like have shares in a company that doesn't exist.


----------



## mr. jeff (25 January 2013)

*Re: MAD - Maverick Drilling & Exploration*

Thanks for the heads up GG I did my own dig and have so far picked up a 20% gain over 2 days.
Good increase in volume to follow, however I expect some weakness to enter the market generally and this may halt things short term...


----------



## Boggo (26 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



tech/a said:


> Tell you what I'll do----here's my punt.
> I'll bet you $500 it doesn't move--- it opens and closes at today's close.
> If I lose I'll send $500 to Joe.
> If I win you do!
> ...




Love your work tech/a, classic 



jancha said:


> Priceless
> No i dont wanna play cause i think your right.
> After the arm wrestle tho which way will it head?


----------



## mr. jeff (29 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



Boggo said:


> Love your work tech/a, classic




Looking at the yearly, MAD remains in a worrying sell down that might attract bottom pickers.









Looking more closely though, this move may have some staying power. The next couple of days will tell whether it can break the down trend and keep moving up. It has come back a long way in this sell off, and a reaction to this is not surprising. I am riding this move but with the great return of strength I am ready to jump at any sign of weakness.

I would appreciate others' view on the fundamentals and technicals.


----------



## mr. jeff (30 January 2013)

*Re: MAD - Maverick Drilling & Exploration*

One thing I did not add is that a break of the 85c level could be significant and should have a high probability of continuation.

From there the move would be looking at the 1.20 level, however it is worth considering whether the market's recent very strong move may falter and effect MAD.


----------



## explod (30 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



explod said:


> Further to my post yesterday before the close, we have *confirmation* on the candle action with healthy volume so it is a buy on my system.





In at .62 on the paper trade and would exit now at market, probably get .725


----------



## jancha (30 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



Trembling Hand said:


> Dumb response?! Mate read what I said. *There is no such think as T/A confirmation which you are trying to shoehorn into yesterdays bar.* You only have a set up that triggers a confirmed set of conditions. That could be a hundred thousand different things. But they are all irrelevant. Where someone has their trigger for their T/A is different from the next dude trading the same setup. Just Google "hammer technical analysis setup" for yesterdays bar and see for yourself the 4,840,000 possible different articles!!
> 
> What you are asking is what is the best colour!! Clearly there is no answer. Only personal opinions. None are going to help you with this crap stock your are holding cus the insto are going to manipulate it until you spew it up.




Too bad YOU didn't have it shoehorned into a CONFIRMATION to buy this Crappy Stock (as you put it) last friday.. Your right about one thing tho i may have to spew up half of MAD holdings at a 10% profit to those institutes. lol. And i'll take a crappy stocks any day of the week if it gives me a profit


----------



## Trembling Hand (30 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



jancha said:


> Too bad YOU didn't have it shoehorned into a CONFIRMATION to buy this Crappy Stock (as you put it) last friday.. Your right about one thing tho i may have to spew up half of MAD holdings at a 10% profit to those institutes. lol. And i'll take a crappy stocks any day of the week if it gives me a profit




Yeah mate you are a gunn. Well done, must be good to crow about *A* trade that went your way. Perfect!

what you make? 1R paper profit?


----------



## jancha (30 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



Trembling Hand said:


> Yeah mate you are a gunn. Well done, must be good to crow about *A* trade that went your way. Perfect!
> 
> what you make? 1R paper profit?




1c = $1200. Your smart enough to work it out. Thanks for the heads up


----------



## Boggo (30 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



jancha said:


> *Reluctantly out of MAD. Oh the pain.* Being in the same sector and area why does AUT rise in price while MAD continues to fall. Doesn't make any sense. Yesterdays announcement was showing a considerable increase in production and yet this. Oh well back to the drawing board.






jancha said:


> *Bought back in on close @ 77c.* Supply seems to be falling away.






jancha said:


> You stated somewhere in the RED thread about school yard antics?
> Desperate people with crappy trading decisions?* Yes i do hold @ a base cost of 64.4c.* Crappy decision we shall see. Desparate i dont think so but you just keep on responding to this crappy stock.
> Aussie Bulls use the same term of confirmation with their buy and sell candle charts.




Should be back to overall breakeven if you can get a few more up days/weeks ?


----------



## jancha (30 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



Boggo said:


> Should be back to overall breakeven if you can get a few more up days/weeks ?




Oh Boogo your never far away 

No idea stick with analysing your charts you seem to get it right sometimes!!
Speaking of which what scenarios do you see for MAD given it's current state.
Bring something useful to the forum if possible.


----------



## Trembling Hand (30 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



jancha said:


> Bring something useful to the forum if possible.




Nah just pumping the winners and ignoring the losses is much better!

What is the point Jancha?


----------



## Boggo (30 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



jancha said:


> Speaking of which what scenarios do you see for MAD given it's current state.




No change until it changes, uptrend finished last April and downtrend commenced last September.

(click to expand)


----------



## mr. jeff (31 January 2013)

*Re: MAD - Maverick Drilling & Exploration*

Boggo what are your thoughts on the second last bar indicating a reversal of down trend - probability wise ?


----------



## basilio (31 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



Boggo said:


> No change until it changes, uptrend finished last April and downtrend commenced last September.
> 
> (click to expand)





Isn't hindsight wonderful ?  Do these analysts put their predictions up before the graph changes or well afterwards ?  It looks too perfect to have been predicted in advance.


----------



## Boggo (31 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



mr. jeff said:


> Boggo what are your thoughts on the second last bar indicating a reversal of down trend - probability wise ?




For me, below is my "quick glance" daily chart.
Basically an uptrending 34 EMA with two consecutive and increasing closes above the EMA are "my" heads up of a possible trend reversal on the daily, then look at the weekly for bigger picture.

For MAD, at a rough guess it will probably need to be in the area of >80c for this to occur.

(click to expand)


----------



## Boggo (31 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



basilio said:


> Isn't hindsight wonderful ?  Do these analysts put their predictions up before the graph changes or well afterwards ?  It looks too perfect to have been predicted in advance.




Off topic and just for you bas !

One from the weekend (when the last bar didn't exist) just to dazzle you 

(click to expand)


----------



## qldfrog (31 January 2013)

*Re: MAD - Maverick Drilling & Exploration*

Entered at .63c today and is down at .615 if I read it right.
A lesson maybe not to brag too loudly about gains on a specific stock?
In my case just opportunistic move, to try to get a few $ from an expected small reversal sooner than later.But would not hold on a medium/short term as i have not done my homework ,


----------



## robusta (31 January 2013)

*Re: MAD - Maverick Drilling & Exploration*

Interesting article from those Motleyfools.

http://www.fool.com.au/2013/01/investing/maverick-drilling-tempting-idiotic/


----------



## Boggo (31 January 2013)

*Re: MAD - Maverick Drilling & Exploration*



robusta said:


> Interesting article from those* Motleyfools.*




Dunno what he is smokin but I am sure there is a law against it.

Extract from report in link above.


----------



## mr. jeff (1 February 2013)

*Re: MAD - Maverick Drilling & Exploration*

Haha that is quite a laugh " a further investment is both tempting and idiotic" !

I hold - I was tempted and idiotic, and still am. (I remain up above purchase price so must exit quickly)

See what sort of plunge there is today...


----------



## basilio (1 February 2013)

*Re: MAD - Maverick Drilling & Exploration*



Boggo said:


> Off topic and just for you bas !
> 
> One from the weekend (when the last bar didn't exist) just to dazzle you
> 
> (click to expand)




Thanks for that Boggo.

I agree that I don't follow the graphs and technical  sides of share trading.  My thoughts were that  the picking of the ups and downs seemed so excellent and clearly profitable that those who follow these trends would have to making a fortune - if in fact the predictions were being made ahead of the market changes. At this point I'm still not sure that these trend analysts are predicting ahead of the market *and what their strike rate is.
*

Of course one of the critical elements of the market is its capacity to self fulfill. If enough people want and expect a stock to rise and buy accordingly  they should provide the impetus for a jump.

Good punting !


----------



## adds4 (14 February 2013)

*Re: MAD - Maverick Drilling & Exploration*

mad has finally stopped falling. Opportunity for those now to get out, or go long. Which ever people think suits them. The graph is still trending down, but slowly mad is getting some traction. Could go either way. With production increasing, but not at a very quick rate, i would bet on more downside than upside in the short term.


----------



## adds4 (17 February 2013)

*Re: MAD - Maverick Drilling & Exploration*

The way the shares have been falling the last 6 months, is it possible that the shares could go back to 20 cents (the price before this massive rise)? Hasnt been any news about the high impact wells, no news usually means bad news. If there was good news by now, they would have released it, im sure any company would? Market update would be good by managment, it would do two things, soften the blown if results arent as good as hoped, or above expectation the shares will rise slowly. Doing nothing always makes the shares fall more than it should


----------



## adds4 (21 February 2013)

*Re: MAD - Maverick Drilling & Exploration*

still falling, need an announcement from management to stop the fall. surely production numbers are up, release what they are, will calm down the market. Going on trend the oil production should be at 1200 bod, thats the most ever for the company


----------



## rcm617 (21 February 2013)

*Re: MAD - Maverick Drilling & Exploration*



adds4 said:


> still falling, need an announcement from management to stop the fall. surely production numbers are up, release what they are, will calm down the market. Going on trend the oil production should be at 1200 bod, thats the most ever for the company




How did you work out present production at 1200 bod, the last figures I've seen are 692 bod for December.
I would have thought if they were getting such positive results, they would have had an announcement by now, so I'd be assuming very little positive has happened.


----------



## adds4 (27 February 2013)

*Re: MAD - Maverick Drilling & Exploration*



rcm617 said:


> How did you work out present production at 1200 bod, the last figures I've seen are 692 bod for December.
> I would have thought if they were getting such positive results, they would have had an announcement by now, so I'd be assuming very little positive has happened.





wasnt  really far off my prediction of 1200 bod, by the looks of the production report, about 1100 bod. Not bad, but at the same time, not that good. The shares reacted positive to the news, because its new news. Company has to learn to give out more reports as the yr progresses.

For me a company with a market cap of 250m, and producing 1100 bod, and not increasing that much, doesnt make sense, its over valued. Good opportunity for people to get out if they want, cos the shares have stabilized now. Was a horrible feeling when they where continuely dropping. Transparency by the company has halted the drive lower. Any news is good news, when a share is dropping like mad is.


----------



## rcm617 (27 February 2013)

*Re: MAD - Maverick Drilling & Exploration*

February average to me looks like about 850 bopd, with a spike up to 1100 about a week ago, but back below 1000 on the last day of the graph. Looks like quite a drop after each spike on that graph.
At least they are making progress and increasing production. Still not progressing enough for me to buy back in; probably where the price will head will depend on their high impact wells, so a bit of a gamble from here on in.


----------



## adds4 (4 March 2013)

*Re: MAD - Maverick Drilling & Exploration*

Oh dear mad have had problems with the high impact well they are drilling. Another 175k wasted, all because they didnt use heavier mud (trying to save a few $$$, cost them the well, and luckily no one was hurt). Looks like the high impact wells will have a good gas section in them, which is not what mad are looking for, or likely to put into production. Mad didnt hit the oil bearing zone so dont really know if there is any oil in the well. Another month wasted. Didnt say anything about any other high impact wells being drilled? Taking there time thats for sure. How on earth are they going to drill 60 high impact wells this yr. Its march, and they havent finished one this yr. The market isnt going to like the time delay, i am sure the shares will continue to fall if production doesnt increase in the shallow well program.  I dont believe any of the companies predictions any more. Usually you divide them by half, and thats what you usally get.

Good thing is aleast the company is releasing announcment to the market, going to get a small price increase today from the announcment. Good or bad when the company annouces something the trend is the share price goes up


----------



## skc (4 March 2013)

*Re: MAD - Maverick Drilling & Exploration*



adds4 said:


> Good thing is aleast the company is releasing announcment to the market, going to get a small price increase today from the announcment. Good or bad when the company annouces something the trend is the share price goes up




The tone of the ASX announcement is as vague as I've ever read. 



> Commenting on the situation of the Zivley #100, Don Henrich, Executive Chairman stated “This is certainly a unique start to our Blue Ridge Dome high impact program. While Maverick has encountered many kicks of this magnitude over our 39 years of contract drilling, having it occur on one of our own tests is exciting. We are most thankful no one was hurt. While we regret leaving pipe in any hole, our in-house rig and infrastructure will limit the cost of this well to less than $175,000. This kind of event requires that we get back onto the horse and ride again. There are no guarantees, but it certainly makes it interesting ”.




How about some actual interpretation of the event rather than it being unique and interesting?

Anyone knows what blowout usually mean? The market seem to think it's a positive. Is that justified?


----------



## adds4 (4 March 2013)

*Re: MAD - Maverick Drilling & Exploration*



skc said:


> The tone of the ASX announcement is as vague as I've ever read.
> 
> 
> 
> ...




Blow out means the well is stuffed on the negative side, but on the positive side it means there is lots of pressure in the well, so hopefully that pressure helps lift the oil out, if they do find any oil. For me its a nothing announcement, the company has wasted 175k on a well, but at the same time mad has encountered a good gas section so far. Make what you will out of it. Managment has tried to spin a positive tone to the announcment. The shares finished at the low of the day, that usually means the smart money has slowly exited during the day


----------



## frankie_boy (17 April 2013)

*Re: MAD - Maverick Drilling & Exploration*



adds4 said:


> Blow out means the well is stuffed on the negative side, but on the positive side it means there is lots of pressure in the well, so hopefully that pressure helps lift the oil out, if they do find any oil. For me its a nothing announcement, the company has wasted 175k on a well, but at the same time mad has encountered a good gas section so far. Make what you will out of it. Managment has tried to spin a positive tone to the announcment. The shares finished at the low of the day, that usually means the smart money has slowly exited during the day




Well seems to be back on a slight rally for the last couple of months. I think its going to be a long haul back.


----------



## jancha (22 May 2013)

*Re: MAD - Maverick Drilling & Exploration*



frankie_boy said:


> Well seems to be back on a slight rally for the last couple of months. I think its going to be a long haul back.




Could be a long haul back but i'm back in @ .48c


----------



## Trembling Hand (22 May 2013)

*Re: MAD - Maverick Drilling & Exploration*



jancha said:


> Too bad YOU didn't have it shoehorned into a CONFIRMATION to buy this Crappy Stock (as you put it) last friday.. Your right about one thing tho i may have to spew up half of MAD holdings at a 10% profit to those institutes. lol. And i'll take a crappy stocks any day of the week if it gives me a profit





jancha said:


> Could be a long haul back but i'm back in @ .48c




When did you get out of your last trade? As last time you were telling me what a gunn you are was the high for 4 months. No doubt you got out then?


----------



## jancha (22 May 2013)

*Re: MAD - Maverick Drilling & Exploration*



Trembling Hand said:


> When did you get out of your last trade? As last time you were telling me what a gunn you are was the high for 4 months. No doubt you got out then?




I don't recall telling you I was a gun but thanks anyway.... As for when I got out and re-entered just look back at previous posts work it out for yourself. Seeing as your so interested I've resold @ .52c but looking at buying back in at 48c. Keep on trembling old timer


----------



## jancha (22 May 2013)

*Re: MAD - Maverick Drilling & Exploration*

Fairly positive announcement out this afternoon. Mavericks joint venture with Gulf South looks to be coming along quite nicely with their high impact drilling results. From here I think the success of Maverick and its sp will depend on this joint venture. Long way to go but at least with Gulf South contributing $333,333 towards each new well you wouldn't think there'd be no need for a C/Rs in the future.


----------



## white_goodman (22 May 2013)

*Re: MAD - Maverick Drilling & Exploration*



jancha said:


> I don't recall telling you I was a gun but thanks anyway.... As for when I got out and re-entered just look back at previous posts work it out for yourself. Seeing as your so interested I've resold @ .52c but looking at buying back in at 48c. Keep on trembling old timer




wunderkind


----------



## jancha (22 May 2013)

*Re: MAD - Maverick Drilling & Exploration*



white_goodman said:


> wunderkind




Danke schon but I'm over 18


----------



## white_goodman (22 May 2013)

*Re: MAD - Maverick Drilling & Exploration*



jancha said:


> Danke schon but I'm over 18




guru status


----------



## jancha (22 May 2013)

*Re: MAD - Maverick Drilling & Exploration*



white_goodman said:


> guru status




Yes I know you are.


----------



## Boggo (22 May 2013)

*Re: MAD - Maverick Drilling & Exploration*

Guru status with a midas touch 

Let me see, PEN, RED, MAD, TNG, SUD, BDR and TZN are a few that come to mind, have I missed any jancha ?


----------



## jancha (22 May 2013)

*Re: MAD - Maverick Drilling & Exploration*



Boggo said:


> Guru status with a midas touch
> 
> Let me see, PEN, RED, MAD, TNG, SUD, BDR and TZN are a few that come to mind, have I missed any jancha ?




Ncm pru ctx wes ton sar tng bhp anz amp ben aut nst ect ect ....Whats the point Boogo?


----------



## Boggo (23 May 2013)

*Re: MAD - Maverick Drilling & Exploration*



jancha said:


> Ncm pru ctx wes ton sar tng bhp anz amp ben aut nst ect ect ....Whats the point Boogo?




I looked at the first two of those, NCM and PRU, and yes they too have been winners - not.
My point is that every stock you follow/push/comment on that I have listed plus the first two of your list above have been disasters unless you are shorting them.

Maybe it is you who is that nasty shorter that is wreaking havoc on PEN - you cunning little beggar, well done


----------



## Chief Wigam (15 July 2013)

*Re: MAD - Maverick Drilling & Exploration*

Nice price action in last week.

Over $50m (11c) in the bank and production now over 1500 BOPD and increasing. I estimate revenue of $9-11m per quarter versus costs of around $2.5-3.5m per quarter. Even if production stays flat (which is extremely conservative) that's a PE of 4-5 at current prices, after stripping out the cash. Seems extremely cheap for a company that has an excellent track record of increasing production. This is an extremely conservative way to value a company. If on the other hand you do an NPV type calculation like RBS Morgans has you get $1.01 just for the 1P 'fairway production', and $1.42 if you include the 2P numbers.

So a valuation of 80c-$1 is pretty conservative it seems.


----------



## pixel (14 October 2013)

*Re: MAD - Maverick Drilling & Exploration*

After a great recovery the last couple of weeks, MAD has requested a trading halt, pending the appointment of a new executive.  Haven't seen many occasions that has necessitated a TH. Can't wait for the whizkid to be named - and the Market's subsequent reaction ...


----------



## batgirl (30 October 2013)

*Re: MAD - Maverick Drilling & Exploration*

Anyone got thoughts on today's plateau? Where to tomorrow? Thought data was strong today - guess charts v's company info - charts are clearly not my strength!!!


----------



## adds4 (26 January 2014)

*Re: MAD - Maverick Drilling & Exploration*

Geez this company has really gone through there cash pile. Yes production has gone up, but it certainly has cost them a lot to do it, considering they are such a low cost driller, its really puzzling

The real worry for me is the company has drilled numerous wells in nash and boiling domes, as so called production wells, when in fact all of them have turned out to be dry wells. The reserves related to boiling and nash dome, really should be ignored, and the true reserve figure of the company is blue ridge dome, which would be between 20 and 50m barrels, (had dry wells too, and success in unreported zones, so just guessing they cancel each other out). Would be nice of the company to update the reserves at blue ridge dome


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## adds4 (28 January 2014)

*Re: MAD - Maverick Drilling & Exploration*

quarterly is out, and it is not to bad, The new ceo acknowledges there are positives and negatives, and that they are going to review operations in the months to come. Good on him. He has also hinted that the company is going to look for more acerage, in more economic fields. I recon the companies strategy has changed now. No more just drilling for the sack of drilling in blue ridge dome. Drilling practices are going to change, and the cash burn is finally going to stop. 

disappointing that sales revenue is still below development costs + production costs, has been like this for 4 yrs. With out the $6.5m prepayment by gulf south, the cash balance would have been down significantly again. Geez the company is lucky to find gulf south, who are no doubt paying mad a premium price for % in wells.


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## adds4 (8 January 2016)

*Re: MAD - Maverick Drilling & Exploration*

Been nearly a couple yrs and mad hasn't bought any oil assets, even though it has a 500m facility at call. The share price has been smashed in the meantime, and the massive cash pile it once had is going to be finished in the not to distance future. Time for a management shakeup again soon if nothing changes


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## oldblue (8 January 2016)

*Re: MAD - Maverick Drilling & Exploration*

On the contrary, management seems to have read the tealeaves accurately - avoiding buying overpriced assets as prices - and asset values - tumbled last year!



Disc: Not currently holding.


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## System (10 November 2016)

On November 10th, 2016, Maverick Drilling & Exploration Limited (MAD) changed its name and ASX code to Freedom Oil and Gas Limited (FDM).


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## greggles (9 August 2018)

Freedom Oil and Gas announced on 5 August that it has completed a $25 million placement via the issue of 166,666,667 shares at 15c per share.

It was suspended prior to the open on 2 August pending the announcement. What is interesting is that a sell off began on 31 July and continued on 1 August prior to the suspension. On 30 July the FDM share price closed at 26.5c. By the close on 1 August it was trading at 20.5c after having reached an intraday low of 16.5c. Given the high volume on both 31 July and 1 August it seems to me that some holders were aware of the details of the placement and sold out knowing that they would be able to buy back in at a much cheaper price after it was announced. I can't conceive of any other explanation for the trading on 31 July and 1 August.

I'm not going to comment on the company's projects and prospects just yet as I'd like to have a closer look, but thought I'd comment on the suspicious trading immediately prior to the company entering a voluntary suspension before the announcement concerning the placement was made. It looks pretty obvious to me what was happening here.


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## Dona Ferentes (23 March 2020)

Freedom to bet the farm but blew it up, instead


> Freedom Oil and Gas, backed by former BHP petroleum boss Mike Yeager, has plunged into administration. The US shale sector junior appointed administrators on Monday saying it had failed to pull off a recapitalisation due to the crude rout and volatile global equity markets.





> “The current oil price environment combined with Covid-19’s impact on the global equity markets has impacted the company’s opportunities to recapitalise and contributed to the director’s decision to put the company into voluntary administration,” Freedom said in a statement.
> 
> US shale producers have been racing to cut costs with the plunge in crude to $US22 a barrel placing companies in peril with many suppliers needing a $US40 a barrel price to turn a profit.





> *However, Freedom struggled in the last few months *even before the oil price crisis. It entered a forbearance deal with lender Wells Fargo in December over an $US18.5m debt and then in January struck a $US30m loan note deal at 12 per cent interest with Ramas Capital Management to try and pay off Well Fargo.
> 
> Freedom then issued a bombshell on February 3 saying Ramas had not funded the initial $US14m tranche for the loan deal, meaning it couldn’t pay Wells Fargo.



easy to blame da virus, easy to hope for leveraged payday, hard to actually run a rational business


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## finicky (23 March 2020)

The Mike Yeager magic touch - guess he's still rich though. Fun going from one demolition derby to the next.

January 15, 2016

BHP posts $US4.9billion oil and gas impairment

Shareholders in BHP Billiton must have shuddered when Mike Yeager announced he had bought more US shale assets on Thursday. 

The acquisitive Yeager, now running microcap Maverick Drilling and Exploration*, was the original architect of BHP's $US20 billion ($28.8 million) punt on US shale in 2011.

*FREEDOM OIL AND GAS LTD - previously known as; MAVERICK DRILLING AND EXPLORATION LIMITED.


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