MAD, MAVERICK DRILLING & EXPLORATION LIMITED

[crooky]

In Reply To: nifty49's post @ Sep 7 2014, 11:58 AM

Yeah could have nifty , did have a good run up though and most energy stocks down on Friday , seems market keen on what acquisition they might move on with the Wells Fargo $50mill Credit Facility. Hopefully we won't see it below 20 . who knows ?

[nifty49]

In Reply To: crooky's post @ Sep 5 2014, 10:13 PM

Pull back may have something to do with removal from the ASX 300?

[crooky]

In Reply To: crooky's post @ Aug 21 2014, 12:05 PM

Pullback today after hitting .27
broke thru resistance .245 the other day

[crooky]

In Reply To: crooky's post @ Aug 21 2014, 12:05 PM

Wells Fargo $US500 million Credit Facility
http://www.stocknessmonster.com/news-item?...SX&N=813340

[crooky]

MAD seems to have formed a base at it's lows @ .15 Breaking out to .19 thereabouts the last week , making a high today @21
Could the bad news be factored in now and positive news is just round the corner ?

If it runs next resistance at .245 , then .30

[cooderman]

MAD struggling to break above .25 res. a close above on daily and it may be worth a punt at some stage

Director's have bought well in the last week .....it is possible it may also fall to test recent lows

will keep on a watch list

[annaliese]

Guys, the latest Morgans report (14/4) is now on the MAD website. For all their association (CR etc) with MAD its quite a balanced report and well worth reading. http://www.maverickdrilling.com/SiteFiles/...ckcomau/PDF.pdf

There are a number of value add/destroy points coming up including:

1/ The current drilling into the Vicksburg formation. This well if successful will add to reserves and is expected to have significantly higher flow rates. According to Morgans this well should be at target depth in early May. Success could lead to afield development plan of 20 wells according to Morgans.Disappointment here will hurt the sp but they have identified more deep targets on recent 3D seismic so I expect further drilling.

2/ Yeager expects to cut lifting costs at Blue Ridge by 50% making this field cash flow positive. This involves staff and equipment redundancy so I would not imagine we will see much from this before q4. Perhaps a little initial impact in q3.

3/ A new assessment of existing "Frio zone" reserves will be complete by late June so we should see a believable figure at that time. Its going to be less then current2P figure of 192MB but theres little guide as to how much less. Given the companyy is currently valued as if it had 30-40MB theres plenty of room for a reduction in the quoted figures while potentially allowing upside in the sp( assuming the new figure is > 40MB 2p)

4/ Deal flow. Yeager is keen to pick up an asset away from the current salt domes as well as doing jv's on the current acreages to speed development. There is no timing on this as yet but things tend to come without warning in any case.

[arty]

In Reply To: cooderman's post @ Apr 13 2014, 01:41 PM

I took a shortcut; instead of "even a gamble", it should have read "some may even call it a gamble".

It goes without saying that no trade - regardless of one's reason for entering - is sensible without appropriate capital management, which includes position sizing and setting of a commensurate stop-loss.
Failure to stick to those basic rules isn't gambling, but insanity.
As is "averaging down": a sure way to increase the risk and reduce profit potential

[cooderman]

just a comment on what Arty said in his post

(Sometimes, I'm also impatient and take a plunge. But I know I'm taking a risk, even a gamble.)

I could not see any posts on this topic and wondered what others thoughts were......what is a gamble and what is a speculative trade?
my take on a speculative trade is you would have risk management in place on the trade.
your reason for taking the trade could be for any number of reasons....Fib levels, bounce off support, candle set up or what ever is your
chosen method...because someone recommended it on a share forum wouldn't be one.

before taking the trade you would work out how much capital you were willing to risk on that one trade. i.e. a $ value or % value
you would then work out your s/l. this would then tell you the no. of shares you could buy, so if the trade went wrong you would only
lose the risk capital you would invest in that trade ...

e.g. if MAD bounces next week and I decide to re-enter at say .315, my stop loss would be new low .285 and I will risk $450 on the trade, the amount of shares I could buy where the maximum loss would be $450 is 15000 shares + brokers.

is this a gamble or a speculative trade where you control your losses.....Wren is one person who has disclosed his method.. he sometimes calls it a punt but he has control of his risk management and his entry levels.

a gamble to me would be to buy 30000 shares in MAD, solely on a good feeling about the company, no stop loss to protect your capital

and if it drops to .25 hang on knowing that one day it will come good...probably not the right thread for this discussion.

[cooderman]

In Reply To: arty's post @ Apr 11 2014, 11:13 AM

I am aware of that Arty....I took the risk and hoped for a bounce off what looked like support at .295 low

it failed and I was out this morning when it looked like a new low.... small volume trade and I can't see much wrong with that

might have been a problem if it goes to .20c and I was still holding