Maverick Begins Production from Denamn #1 Well

Maverick Basin
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Maverick Oil and Gas reports that the Denman #1 well, the first well in its Maverick Basin project in South West Texas, has now commenced commercial operation, producing the company's first sales at the rate of 450 thousand cubic feet (MCF) of natural gas and 60 barrels of oil per day. The current oil yield of 60 barrels of oil per day (BOPD) is substantially higher than the 35 BOPD rate at which this well had tested, as previously announced in November 2004. The Maverick Basin project is Maverick's joint venture with Blue Star Operating Inc, the independent oil and gas company owned by Jerry Jones, and Touchstone Resources USA, the operator of the project.

Mike Garland, CEO of Maverick, said "We are very pleased to announce that the Denman #1 well went on production by the end of January, as previously expected, and is now producing the very first sales of natural gas and oil for the company. We further expect that the Denman #2 well will be spudding shortly."

Maverick has previously reported that if the initial exploration wells are successful it intends to drill up to 80 wells on the Maverick property, in which it has a 37.5% net working interest, and which is located in the Maverick Basin of South West Texas.

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