SOURCE: Maverick Energy Group LTD

January 12, 2007 08:30 ET

Maverick Successfully Drills 2 New Wells in Big Foot Field

SAN ANTONIO, TX -- (MARKET WIRE) -- January 12, 2007 -- Maverick Energy Group, Ltd (PINKSHEETS: MKGP) (Maverick), along with the other members of Z2, is pleased to announce the successful drilling of two new Olmos "D" wells in its Big Foot Field in Frio County, Texas. Logs indicate in excess of twenty feet of pay in each of the two wells. These are the first two wells in Maverick's, as a member of Z2, redevelopment program with Z2's recent $40 million funding.

Maverick is the Operator of the field and owns an 11.5% member interest in Z2, the owner of the Big Foot Field.

Maverick anticipates that both of the above mentioned wells will be completed and in production by the end of January. Maverick also should begin the drilling of the third Z2 well by the end of January.

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.

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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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