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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.
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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.
 
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
 
Re: MAD - Maverick Drilling & Exploration

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

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