Maverick Drilling & Exploration Limited announced consolidated earnings and production results for the six months ended December 31, 2012. For the six months, the company reported revenue from continuing operations of USD 9,270,000 compared to USD 10,509,000 for the same period a year ago. Profit before income tax was USD 1,105,000 compared to USD 5,366,000 for the same period a year ago. Profit from continuing operations was USD 1,035,000 or 0.25 cents per basic and diluted share compared to USD 3,922,000 or 1.05 cents per basic and diluted share for the same period a year ago. Profit attributable to owners of the company was USD 1,035,000 or 0.25 cents per basic and diluted share compared to USD 3,922,000 or 1.05 cents per basic and diluted share for the same period a year ago. Net cash inflow from operating activities was USD 3,514,000 compared to USD 6,344,000 for the same period a year ago. Payments for property, plant and equipment was USD 3,423,000 compared to USD 1,235,000 for the same period a year ago. Payments for exploration and evaluation assets were USD 559,000 compared to USD 92,000 for the same period a year ago. Payments for oil and gas assets were USD 11,211,000 compared to USD 7,122,000 for the same period a year ago. Adjusted EBITDA was USD 6,121,000 compared to USD 8,046,000 for the same period a year ago.

For the six months, the group drilled 41 wells across its Blue Ridge, Boling and Nash salt dome properties and 1 exploratory well on its Edwards Reef prospect during the half year. 21 of these wells were deemed productive and completed by the group. In the period from July 1, 2012 to December 31, 2012 the group completed the drilling of 25 new wells on Blue Ridge Dome, 11 new wells on Boling Dome and 5 new wells on Nash Dome.