SOURCE: Maverick Energy Group LTD

August 15, 2007 08:30 ET

Maverick Energy Group Announces Profit of $73,669 for Second Quarter of Fiscal 2007

TULSA, OK--(Marketwire - August 15, 2007) - Maverick Energy Group, LTD (PINKSHEETS: MKGP) is pleased to announce operating results for the second quarter and first six months of fiscal year 2007, ending June 30th. The Company reports a gross profit of $255,001 during the second quarter and of $466,702 for the six-month period.

Maverick's revenues for the three and six-month periods rose sharply from $934,589 and $934,589 respectively to $4,553,543 and $7,874,159 over the same periods from 2006. These dramatic increases were accompanied by a corresponding increase in expenses. Still, the company showed a net profit of $73,669 for the second quarter and $87,100 for the first six months.

"We are very proud of the progress and growth Maverick is making quarter after quarter. Our numbers continue to reinforce the fact that we are a company that focuses on fundamentals and core growth. Although we currently derive a significant amount of revenue from our duties as drilling operator for Z2 and the Big Foot field, we will continue to investigate and pursue outside exploration and drilling opportunities that allow us to diversify our holdings and revenue streams while boosting profits in the quarters and years to come," says Jim McCabe, CEO of Maverick Energy Group, LTD.

"Despite adverse weather conditions over the last couple of quarters that dictated slowdowns in our drilling operations in the Big Foot field, Maverick is still showing a very healthy net profit. These conditions, together with the fact that we did not start any new outside drilling operations in this timeframe, temporarily kept us from posting profits as large as we would have liked for the first six months of 2007. Drilling is already ramping back up in Big Foot and our plans also include another outside drilling program in the coming months which should both have very positive impacts on our revenues and bottom line for the foreseeable future," continues McCabe.

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. Maverick is also the part owner of several producing natural gas wells 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.

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