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                                                             Exhibit 99.1

                                  RISK FACTORS

Dependence of Energy Industry

The Company's  principal  products  consist of OCTG and line pipe,  and sales of
these products to the energy industry  constitute the most significant source of
Maverick's revenues.  Revenues from the sale of OCTG and line pipe to the energy
industry  accounted for approximately  65%, 77% and 65% of total sales in fiscal
1998, 1997 and 1996,  respectively.  Demand for Maverick's OCTG products depends
primarily  upon the number of oil and  natural  gas wells  being  drilled in the
United States and Canada,  the depth and drilling  conditions of those wells and
the number of well completions,  all of which are in turn primarily dependent on
oil and  natural  gas  prices.  These  prices are  dependent  upon many  factors
including  world  supply and demand for oil and weather  conditons.  Uncertainty
continually  exists as to the future  level and  volatility  of domestic oil and
natural gas prices.

Effect of Changing Steel Prices

Purchased steel  represents  slightly more than two-thirds of Maverick's cost of
goods sold. The steel industry is highly cyclical in nature and steel prices are
influenced  by  numerous  factors,  many of which are beyond the  control of the
Company,  including general economic conditions,  industry capacity utilization,
import duties and other trade  restrictions  and currency  exchange  rates.  The
Company's  major  supplier of steel has announced  three price  decreases  since
mid-September,  1998 which reduced the  Company's  current  replacement  cost of
steel by $50 per ton.  Although the Company  expects that such price  reductions
will be fully reflected in the Company's cost of goods sold in the third quarter
of  fiscal  1999,  no  assurance  can be given as to the  duration  of the price
decrease or  anticipated  future steel  prices.  Also, no assurance can be given
that these  decreases  in steel  prices  will not impact  pricing  levels of the
Company's  products.  Steel trade cases were filed with the International  Trade
Commission in September, 1998 which could negatively impact the Company's future
replacement cost of steel.

Competition from Other Manufacturers

The production and marketing of the Company's energy and industrial products are
highly  competitive.  Some of Maverick's  competitors have greater financial and
marketing resources and business diversification than Maverick. Unlike Maverick,
many of its large OCTG  competitors are  integrated  steel producers who  do not
purchase their raw materials in the open market.  During periods of strong steel
demand and weak steel scrap prices,  Maverick may be at a disadvantage  to these
integrated competitors.

Competition from Imports

The domestic  OCTG market is affected by the level of imports of OCTG  products,
which has varied  significantly over time. High levels of imports (which existed
in fiscal  1994 and most of fiscal  1995)  reduced  the volume  sold by domestic
producers  and  suppressed  selling  prices of OCTG.  The Company  believes that
domestic import levels are affected by, among other things, overall world demand
for OCTG, the trade practices of and government  subsidies to foreign producers,
and the presence and absence of governmentally imposed trade restrictions in the
U.S.  Imports  accounted  for 18.7%,  17.2% and 11.1% of domestic  shipments  in
fiscal 1998, 1997 and 1996,  respectively.  Domestic sales of structural  tubing
are also affected by imports.

Company's Sales Influenced by Industry Inventory Levels

Industry-wide  inventory  levels of OCTG  products can vary  significantly  from
period to period and have a direct  effect on the demand for new  production  of
such  products.  As a result,  the  Company's  OCTG  sales and net income may be
impacted   significantly  from  period  to  period.   Management  believes  that
industry-wide  OCTG inventory is currently at above normal levels in relation to
demand  as  estimated  months  of supply  of  inventory  increased  as of fiscal
year-end to 7.3 months.  There can be no assurance  that OCTG inventory will not
again become  excessive or that  substantial draw-downs of such inventories will
not occur.  Domestic  sales of  structural  tubing are also affected by changing
industry  inventory levels  generally  resulting from  corresponding  changes in
steel prices.

Company's Sales Affected by Seasonal Fluctuations

Maverick,  as  well  as the  OCTG  industry  in  general,  experiences  seasonal
fluctuations in demand for its products.  Because weather  conditions during the
first  half  of  the  calendar  year  normally  make  drilling  operations  more
difficult,   domestic  drilling  activity  and  the  corresponding   demand  for
Maverick's  products may be  generally  lower during the second and third fiscal
quarters,  as compared with the first and fourth fiscal quarters.  Maverick also
believes  it  experiences  seasonal  fluctuations  in demand for its  industrial
products,  although the timing of such fluctuations may differ from fluctuations
experienced in the OCTG industry.

Dependence on Significant Customers

In fiscal 1998 and fiscal 1996, one distributor,  National Oilwell Supply,  Inc.
("National Oilwell") accounted for 14% and 16%, respectively,  of Maverick's net
sales. In fiscal 1997, two  distributors,  National Oilwell and Master Tubulars,
Inc.  accounted for 25% of Maverick's  net sales.  Maverick  currently  utilizes
numerous  distributors  of its products and believes that  additional  qualified
distributors  are  available  to assist  Maverick in meeting  end users'  needs.
Although  Maverick  believes  that it could replace any one  distributor  of its
products,  including  National  Oilwell  or Master  Tubulars,  Inc.,  with other
qualified  distributors,  no  assurance  can be given that the loss of either of
these  distributors  or any other  customer  would not have a  material  adverse
effect on Maverick's net sales or results of operations.

Product Liability

Drilling for oil and natural gas involves a variety of risks. Certain losses may
result or be alleged to result  from  defects in  Maverick's  products,  thereby
subjecting  Maverick  to claims for  consequential  damages.  Maverick  warrants
certain of its OCTG and line pipe  products to be free of certain  defects.  The
use of  structural  tubing can also involve  risks,  and losses may result or be
alleged  to result  from  defects  in such  pipe and  tubing  products,  thereby
subjecting  the  manufacturer  of such  products  to  claims  for  consequential
damages.   Maverick  maintains  insurance  coverage  against  potential  product
liability claims in amounts which it believes to be adequate.  Maverick, has not
historically  incurred  material product liability costs, nor has it experienced
difficulties in obtaining or maintaining  adequate product  liability  insurance
coverage;  however,  no  assurance  can be  given  that in the  future,  product
liability  in excess of such  insurance  coverage  will not be  incurred or that
Maverick will be able to maintain such insurance coverage levels.

Regulatory Matters

The  business of Maverick is subject to numerous  local,  state and federal laws
and regulations concerning  environmental and safety matters.  Although Maverick
has not incurred  material costs of compliance  with such laws and  regulations,
there can be no assurance that future changes in such laws and regulations  will
not have a material effect on Maverick's operations.