SOURCE: Maverick Energy Group LTD

October 11, 2006 10:08 ET

Maverick Energy Group Orders NOBO List to Clarify Stock Ownership

TULSA, OK -- (MARKET WIRE) -- October 11, 2006 -- Maverick Energy Group Ltd (PINKSHEETS: MKGP) announced today that it has ordered a Non-Objecting Beneficial Ownership list, also know as a NOBO List for review to confirm and clarify all owners of its issued and outstanding shares.

The company's CEO James McCabe stated, "We are going to compare the list to the company's DTC trading list which discloses the number of shares held by the clearing houses. This will enable us to determine if there are any peculiarities in light of the recent stock trading. At this point we are gathering information," Mr. McCabe continued, "to explore any possible trading irregularities such as illegal short positions, and they will be corrected if that proves to be the case."

Maverick Energy Group LTD is the operator of the "Big Foot Field" in West Texas originally developed by Royal Dutch Shell (RDS-A) and recently valued at approximately $19 million. It has approximately 300 wells in the field of which approximately 240 are presently revenue producing. Maverick is also the proprietary owner and operator of several producing natural gas fields and owns additional natural gas leases in West Virginia. The President of Maverick also serves as the Chief Financial Officer of Z2, LLC.

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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