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Maverick Energy Group, Ltd. Makes Core Property Acquisition February 1, 2022

By: Maverick Energy Group, Ltd. via AccessWire

February 01, 2022 at 11:00 AM EST

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

ST AUGUSTINE, FL / ACCESSWIRE / February 1, 2022 / James McCabe, President and CEO of Maverick Energy Group, Ltd. (OTCMKTS:MKGP) ("Maverick"), an independent oil and gas company, announced today that Maverick has made a core property acquisition in the Permian Basin of West Texas.

The assets that were acquired by Maverick consist of a 100% working interest in over 16,360 acres (10,000 acres being contiguous), 233 shut-in wells, a profitable, active commercial saltwater disposal and freshwater sales facility, an office in downtown Midland and additional support facilities. Prior to the wells being shut-in, seller's records show production of 310 barrels of oil per day and 137,000 cubic feet of gas a day. In addition, records of the seller show a multi-day well test of a recently completed deeper well flowing at more than 300 barrels of oil per day prior to shutting in the field.

Maverick paid the seller 23 million restricted shares of its common stock. Maverick believes that this purchase has the potential of significant production of oil based upon the shut-in wells being returned to production, the large inventory of proved but undeveloped locations to drill, behind pipe zones to exploit, deep zones of interest and opportunities to expand operations from this core area.

About Maverick Energy Group

Maverick Energy Group, LTD is a crude oil and natural gas acquisition, production, exploration, and horizontal drilling development company focusing on select areas of North America. Maverick believes that its access to patented and proprietary horizontal production enhancement technologies facilitates the rapid accumulation of valuable oil and gas assets, while at the same time greatly improving the rate of production and lifetime potential of these properties.

Company Website: @www.maverickeg.com

Safe Harbor Statement

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimates," "projects," "intends," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, the Company's ability to successfully execute its expanded business strategy, including by entering into definitive agreements with suppliers, commercial partners, and customers; general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and

methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technical advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, regulatory requirements, and the ability to meet them, government agency rules and changes, and various other factors beyond the Company's control, all as set forth in the risk factors stated in Maverick's Regulation A offering statement on Form 1-A.

CONTACT:

Maverick Energy Group, Ltd.
investors@maverickeg.com

SOURCE: Maverick Energy Group, Ltd.

View source version on accesswire.com:
https://www.accesswire.com/686639/Maverick-Energy-Group-Ltd-Makes-Core-Property-Acquisition-February-1-2022

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