Maverick Basin Project on Track
Maverick Oil and Gas
|Thursday, November 18, 2004
Maverick Oil and Gas reports that it has reached total drill depth of 6,245' on Travis 641-H, the second well in its Maverick Basin project, and is awaiting completion after the rig moves off location. Maverick anticipates that testing will be completed in two weeks, after which facilities and pipelines will be constructed. First sales are anticipated early next year. Mike Garland, President of Maverick, said, "We plan to spud the third Maverick Basin well, whose drill location has already been identified, in January 2005 at the end of the dear-hunting season, which restricts drilling activity during the period. We are not surprised to see Touchstone's drilling program again coming in on schedule, given the level of confidence we have in them as operator on this project."
The Maverick Basin project is Maverick's joint venture with Blue Star, the independent owned by Jerry Jones, and Touchstone Resources USA Inc. Maverick has a net 37.5% interest in the project.