Maverick Begins Drilling Developmental Blue Ridge Program

Maverick has begun drilling the initial well in its extensive Blue Ridge development program. Maverick Rig #8 has been deployed to Blue Ridge Dome field, located approximately 20 miles south of Houston, Texas, with the expectation that the rig will remain in the field throughout the entire 50+ well drilling program slated for the next 12 months and remain indefinitely. The initial well is named the Hill #201, and drilling began on Saturday, September 25, 2010 (US CDT).

Due to the oversubscriptions received in Maverick's recent IPO, the Blue Ridge drilling schedule has been increased to 9 wells in the period September 2010 to December 2010 and 30 new wells in the period from January 2011 to June 2011. Due to the multiple wells and operations underway simultaneously, the Directors plan to issue monthly updates comprised of reports across all wells drilled during
each month. The reports will begin with an October 2010 report released in early November 2010.