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FDM - Freedom Oil and Gas

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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.
Click to expand...

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.
 
Re: MAD - Maverick Drilling & Exploration

mrlister said:
not increased reserves, increased acreage to explore.
Click to expand...

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.
 
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.
 
Re: MAD - Maverick Drilling & Exploration

Tested the high of the 20th and consolidated, lets see if we can surge through tomorrow!
 
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.
:2twocents
 
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
Click to expand...

Still no stops? :eek: Or just holding?

Big boys selling out today.

I'll stand by and watch..
 
Re: MAD - Maverick Drilling & Exploration

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

CanOz
 

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Re: MAD - Maverick Drilling & Exploration

Chasero said:
Still no stops? :eek: Or just holding?

Big boys selling out today.

I'll stand by and watch..
Click to expand...

That is MAD.

Pretty strong and swift bounce from 84 to 92 though.
 
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.
 
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.
Click to expand...

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.

:cool:
 
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.:rolleyes:
(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
Click to expand...

Funny how LYC, MAD and others all have 'good' announcements right after Greek elections are over...
 
Re: MAD - Maverick Drilling & Exploration

Chasero said:
Funny how LYC, MAD and others all have 'good' announcements right after Greek elections are over...
Click to expand...

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

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