SOURCE: Maverick Energy Group LTD

February 28, 2007 08:30 ET

Maverick Energy Group, LTD Announces the Completion of Drilling of Fifth Well in Big Foot Field

SAN ANTONIO, TX -- (MARKET WIRE) -- February 28, 2007 -- Maverick Energy Group, LTD (PINKSHEETS: MKGP) (Maverick) a member of Z2, LLC is pleased to announce the successful completion of drilling of the fifth well which is part of the operations planned by Maverick, as a member of Z2, with funding from the $40,000,000 Advancing Credit Facility which Z2 closed with Gasrock Capital, LLC in August of 2006. The initial drilling phase of the well began on February 22nd and was completed today. The well will be scheduled for completion the first week of March.

In addition, the third well was fractured on February 25th and will be placed on line and tested this week. Initial flow rates should be available by the middle of March.

The fourth and fifth wells of the five scheduled wells to be drilled and completed as part of the initial funding with Gasrock Capital, LLC are scheduled for fracture on March 4th and will be placed on line and tested next week. Initial flow rates on them should be available in the latter half of March.

"The drilling of the fourth and fifth wells is ahead of our projected time frame. This will allow us to gauge the initial production rates on the fourth and fifth wells earlier than expected," stated Jim McCabe the CEO of Maverick.

Maverick Energy Group LTD is the Operator of the "Big Foot Field" in Texas originally developed by Royal Dutch Shell (RDS-A). It has approximately 300 production wells in the field of which approximately 240 are presently revenue producing. 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.

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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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