RE:RE:MD&AI read it and don't see anything of concern. The ASX trading is low volume and not indicative of any sell of IMHO. Some notes from MD&A
We have $2.9 million cash on hand
Note increased production at Vallecitos with Salt water injection which is what I belive they are setting up for newley aquired well in Cooper valley
Company feels former stake holder dd not adequatly test Grand Tower formation.
New Seismic completed over 6 mile radius
Permitting under way for additional Illinois well sites and they plan to test new formations
Maverick will be testing many oil bearing zones over time starting with the lower Buda formation
Warrants do not seem to be an issue and could bring in additioanl income if we can get the price up a above .50
Lots of activity planned in the next few months that should clarify what we have
As Ive stated before, we could be looking at financing in the short term.
Overall I belive this company is displaying exteremly competent mangment for a exploration company with limited production. Of course this is just IMHO. Do your own DD.
If I misinterpreted anything please accpet my apologies as I'm only on my first cup of coffee this morning.
GLTA