September 7, 2011
OTC Disclosure & News Service
Tulsa, OK - Maverick Energy Group, Ltd. Announces Drilling of Fourth Well in Larremore Project
Maverick Energy Group, LTD is currently drilling the fourth of five wells in the Larremore Project. The fourth well, a disposal well, was drilled to a depth of 1,100 feet over the weekend, and is to be drilled to a total depth of 1,725feet this week.
The fifth well, the final of the four producing wells in the project, will be drilled within four weeks. Meanwhile, Maverick is setting up the tank battery, pumps and flow lines. Once the infrastructure is established, the wells will be completed, which is a three to four week process. "We expect all of the wells to be producing within 90 days," says Maverick Chairman and CEO James McCabe.
The Larremore Project is located in Caldwell County, Texas, 90 miles northeast of the Big Foot Field and 25 miles southeast of Austin.
About Maverick Energy Group, LTD
Maverick Energy Group LTD, based in Tulsa, OK, is engaged in the domestic exploration and production of crude oil and natural gas. Its management team has over 150 combined years of experience in the oil & gas and financial services industries. Maverick Energy is the Operator of the "Big Foot Field" in Texas, which was originally developed by Royal Dutch Shell (RDS-A). The Big Foot Field has approximately 310 production wells in the field, of which approximately 250 are presently revenue producing. Maverick is also the part owner of several producing natural gas wells in West Virginia. For more information on Maverick Energy, please visit the company's website at: www.maverickenergygroup.com or www.pinksheets.com.
This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology; changes in laws and regulations, includes codes and standards, intellectual property rights, and tax matters; the uncertainty of the oil & gas market; including the geopolitical environment not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Christiane Lopez
Vice President of Investor Relations / Marketing
918.764.4081
lopez@maverickenergygroup.com