Pinnacle Group Unlimited Inc (PGPU-OTC PINK SHEETS) and Maverick Energy Group (MEG) are pleased to announce the close of PGPU's purchase of all assets and liabilities. As part of the transaction all of MEG's key personnel will remain with PGPU.
Coinciding with the closing of the acquisition PGPU is announcing its plans to move forward on drilling another 25 natural gas wells in W. Virginia where it has successfully completed 4 wells.
Maverick Energy is the operator of the 'Big Foot Field" in West Texas originally developed by Royal Dutch Shell (RDS-A) recently valued at $19 million as well as proprietary owner and operator of several natural gas fields and owner of approximately 50 natural gas leases in West Virginia.
PGPU is a publicly held holding company formed for purchase and acquisitions that best appreciates shareholder value with its primary focus in the energy sector.
Further information can be found at www.pinnaclegli.com or http://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:
For further information, please contact:
Ronald Kopman
President of Pinnacle
(416)371-1357
Ronkopman7@sympatico.ca
Source: Pinnacle Group Unlimited Inc.
Maverick Energy Group Inc.