why wasn't a sequel made for Master and Commandeer?

[confused]

though very good movie, it was underrated. it didn't fair that well in the US, more globally, which is usually an indication of making a sequel

taken from Wikipedia:
Director Peter Weir, asked in 2005 if he would do a sequel, stated he thought it "most unlikely", and after disclaiming internet rumors to the contrary, stated "I think that while it did well...ish at the box office, it didn't generate that monstrous, rapid income that provokes a sequel."[10] In 2007 the film was included on a list of "13 Failed Attempts To Start Film Franchises" by The A.V. Club, noting that "...this surely stands as one of the most exciting opening salvos in nonexistent-series history, and the Aubrey-Maturin novels remain untapped cinematic ground."[11] In December 2010 Russell Crowe launched an appeal on Twitter to get the sequel made: "If you want a Master and Commander sequel I suggest you e-mail Tom Rothman at Fox and let him know your thoughts".