July 28, 2014 7:18 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Maverick Drilling & Exploration Limited

Company Overview

Maverick Drilling & Exploration Limited, a diversified oil company, focuses on low cost development of drilling prospects with existing oil production and reserves. The company operates oil and gas leases on the parts of Blue Ridge, Boling, and Nash Domes established producing oil fields located south of Houston, Texas in the United States. It also provides onshore contract oil and gas drilling services in the Gulf Coast region of the United States. In addition, the company is involved in the identification and internal development of new oil prospects. Maverick Drilling & Exploration Limited was founded in 2007 and is based in Newcastle, Australia.

24 Bolton Street

Suite 2

Newcastle, NSW 2300

Australia

Founded in 2007

170 Employees

Phone:

61 2 4925 3659

Fax:

61 2 4925 3811

Key Executives for Maverick Drilling & Exploration Limited

President of Maverick Production Company
Total Annual Compensation: $188.8K
Company Secretary
Age: 32
Total Annual Compensation: $181.8K
Vice President of Maverick Production Company
Total Annual Compensation: $107.6K
Compensation as of Fiscal Year 2013.

Maverick Drilling & Exploration Limited Key Developments

Maverick Drilling & Exploration Limited Announces Retirement of Don Henrich from Board of Directors

Maverick Drilling & Exploration Limited announced that Don Henrich has retired from the Board of Directors of the company effective March 1, 2014.

Maverick Drilling & Exploration Limited Announces Consolidated Financial Results for the Six Months Ended December 31, 2013

Maverick Drilling & Exploration Limited announced consolidated financial results for the six months ended December 31, 2013. For the period, the company reported revenue from continuing operations of $17.844 million against $9.270 million a year ago. Loss before income tax was $2.497 million against profit before tax of $1.105 million a year ago. Loss from continuing operations was $0.733 million against profit from continuing operations of $1.035 million a year ago. Loss is attributable to owners of the company was $0.733 million against profit is attributable to owners of the company of $1.035 million a year ago. Loss per diluted share for loss from continuing operations attributable to the ordinary equity holders of the company was 0.16 cents against earnings per diluted share for profit from continuing operations attributable to the ordinary equity holders of the company of 0.25 cents a year ago. Loss per share for loss attributable to the ordinary equity holders of the company was 0.16 cents against profit per share for loss attributable to the ordinary equity holders of the company of 0.25 cents a year ago. Net cash inflow from operating activities was $15.292 million against $3.514 million a year ago. Payments for property, plant and equipment was $1.869 million against $3.423 million a year ago. Payments for oil and gas assets was $21.238 million against $11.211 million a year ago. Adjusted EBITDA was $13.799 million.

Maverick Drilling & Exploration Limited Appoints Howard Selzer as CFO, Effective March 5, 2014

Maverick Drilling & Exploration Limited announced that Howard Selzer will assume the position of CFO effective March 5, 2014. He joins from CASA Exploration Management LLC. where he served as CFO, and has over 30 years of experience in the range of finance roles including 6 years as a public company CFO. Andrew Crawford, who has performed CFO duties for the company since 2010 will remain with the company as Company Secretary.

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