SOURCE: Maverick Energy Group LTD

April 28, 2008 08:37 ET

Maverick Energy Group Announces Latest Edition of Drill Bits Newsletter

Maverick Acquires New West Virginia Leases and Production Boost

TULSA, OK--(Marketwire - April 28, 2008) - Maverick Energy Group, LTD (PINKSHEETS: MKGP) is pleased to announce that the latest issue of its Drill Bits newsletter is now available on the company's website at:

In this month's edition of Drill Bits, Maverick Energy Group announces that it is beginning a program to boost natural gas production from four of its existing wells in West Virginia. With the planned improvements, production from these four wells alone is predicted to increase to approximately 200 mcfd. The company also announces that it has secured several new lease assignments in Doddridge County, West Virginia, with drilling locations identified by Maverick's new geologist, who has been successfully drilling in West Virginia for over thirty years. Maverick also updates its drilling operations in the Big Foot Field in Texas, where it is both a partner and serves as drilling operator, noting that the company is drilling three to four wells per week on average.

"The first few months of the year have already been very busy for everyone here at Maverick. We have worked hard to secure several promising leases in West Virginia and plan new wells on those leases. At the same time, we are continually boosting our oil & gas production both in West Virginia and in the Big Foot Field in Texas. The outlook for Maverick in 2008 is very bright already," says Jim McCabe, CEO of Maverick Energy Group, LTD.

Maverick Energy Group produces its Drill Bits newsletter on a monthly basis and distributes it to its shareholders and other interested parties who have signed up for news on its website. All that the company requires for you to receive regular electronic copies of Drill Bits is to enter your e-mail address in the online form at:

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 225 are presently revenue producing. Drilling operations in the Big Foot Field are being funded through a $40,000,000 Advancing Credit Facility which Z2, LLC closed with Gasrock Capital, LLC in August of 2006, amended to $75,000,000 in November of 2007. Maverick is also the part owner of several producing natural gas wells in West Virginia and owns additional natural gas leases in West Virginia. The President of Maverick also serves as Chief Financial Officer of Z2, LLC. For more information on Maverick Energy, please visit the company's website at: or

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 Information