Maverick Energy Group, LTD Announces the Completion of the Bonnie Davis #1 Well: 8/16/21

Rhea-AI Summary

Maverick Energy Group (OTCMKTS: MKGP) has completed the first stage of work on the Bonnie Davis #1 well at its 167-acre Davis Lease in Jones County, Texas. The well is now producing from the Flippin Limestone formation at depths of 1,990-1,996 feet. Jason Lacewell, the Petroleum Engineer, will monitor its performance to assess stable production levels. Maverick aims to start work on a second well by the end of Q3 2021, showcasing their commitment to expanding operations in the oil and gas sector.

Positive

• Completion of the Bonnie Davis #1 well enhances production capabilities.
• Initial production from the Flippin Limestone formation indicates potential commercial viability.
• Plans to begin the second well by the end of Q3 2021 signal ongoing growth.

Negative

• None.

ST AUGUSTINE, FL / ACCESSWIRE / August 16, 2021 / James McCabe, President and CEO of Maverick Energy Group, Ltd. (OTCMKTS:MKGP) ("Maverick") announced today that Maverick has finalized the first stage of completion work on the Bonnie Davis #1 on Maverick's 167-acre Davis Lease in Jones County, Texas. Maverick's Petroleum Engineer, Jason Lacewell, has been working on one of several identified potentially commercially productive zones in the Bonnie Davis #1 Well down to a depth of 3,150 feet.

The Bonnie Davis #1 is now producing from the Flippin Limestone formation at a depth of 1,990-1,996 feet. Mr. Lacewell will continue to monitor the well's initial performance to determine what productive levels can be maintained. Maverick will announce the well's performance as soon as productive levels stabilize.

With the leadership of Maverick's engineer, Jason Lacewell, Maverick expects to begin work on the second well in our inventory of quality oil and gas prospects before the end of the third quarter of 2021.

This is an exciting time for Maverick and all those who have been Maverick supporters: Shareholders, Legal and Accounting Professionals, Geological and Geophysical Team members, and USR Resources. Special thanks to Maverick's Petroleum Engineer, Jason Lacewell, for bringing it all together.

MAVERICK ENERGY GROUP LTD. BONNIE DAVIS #1 JONES COUNTY, TEXAS

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's 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.

CONTACT:

Maverick Energy Group, Ltd.
investors@maverickeg.com

SOURCE: Maverick Energy Group, Ltd.

View source version on accesswire.com:
https://www.accesswire.com/659916/Maverick-Energy-Group-LTD-Announces-the-Completion-of-the-Bonnie-Davis-1-Well-81621

FAQ

What is the status of the Bonnie Davis #1 well by Maverick Energy Group?

The Bonnie Davis #1 well has completed the first stage of work and is now producing from the Flippin Limestone formation at depths of 1,990-1,996 feet.

What are Maverick Energy Group's future plans regarding drilling?

Maverick Energy Group plans to start work on a second well by the end of the third quarter of 2021.

Who is overseeing the production monitoring of the Bonnie Davis #1 well?

Maverick's Petroleum Engineer, Jason Lacewell, is responsible for monitoring the well's initial performance.

What is the stock symbol for Maverick Energy Group?

The stock symbol for Maverick Energy Group is MKGP.

Where is the Davis Lease operated by Maverick Energy Group located?

The Davis Lease operated by Maverick Energy Group is located in Jones County, Texas.