SOURCE: Maverick Energy Group, LTD

May 04, 2007 10:07 ET

Maverick Energy Group Updates Drilling Forecast and Production Numbers for Big Foot Field

TULSA, OK -- (MARKET WIRE) -- May 4, 2007 -- Maverick Energy Group, LTD (PINKSHEETS: MKGP), a member of Z2, LLC (Z2), is pleased to announce that production has steadily increased in the Big Foot Field in Frio County, Texas, where Maverick serves as the operator and is a member of Z2. Oil production in the Big Foot Field has increased from approximately 7,500 barrels of oil per month in August 2006 to in excess of 10,000 barrels of oil per month in March 2007.

Drilling operations in the Big Foot Field have also increased and are expected to continue increasing for the foreseeable future. Maverick's goal is to start drilling three (3) new puds (wells) in May and then keep up this pace by drilling three new wells per month in the Big Foot Field from here out.

"Each new well we bring online produces 18-25 barrels of oil per day on average as well as varying amounts of natural gas. Since we are usually able to get each new pud drilled and online (producing) within a one month timeframe, we could see as many as 36 new wells operating within a year. That could increase our overall production by as much as 18,000 to 20,000 barrels of oil per month. At current prices, that should translate into an additional $1,000,000 to $1,250,000 in revenue per month for Maverick and its Z2 partners. Revenue from a predicted 10-15 million additional cubic feet of natural gas per month could really make for a significant jump in revenues in the coming year," says Jim McCabe, CEO of Maverick Energy Group, LTD.

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

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 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. 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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