Maverick Spuds First Well in its Barnett Shale Project

Maverick Oil and Gas has spudded the first well in its Barnett Shale Project in North Texas. Maverick participates in the Barnett Shale Project through a 50% membership interest in RBE LLC ("RBE"), a company formed by Maverick and its partners to explore for oil and gas in the Barnett Shale area of North Texas. RBE has to date with its partners acquired aggregate lease interests of approximately 12,000 gross acres in the Barnett Shale area.

The well, the Pauline Cook #1-H, was spudded on the 629 +/- acre Bertha Flowers lease block in Wise County, part of the 1,942 +/- acre area in which RBE has a 100% interest. The operator on this block is Reichmann Petroleum Corp. of Grapevine, Texas ("Reichmann"). Dyke Ferrell, President of Reichmann, said, "We expect the drilling of this well to take about a month with testing to follow shortly thereafter."