Duyuru • Dec 07
Maverick Energy Group, Ltd. Announces Work Commenced on Bonnie Davis #1 Maverick has acquired funds as previously announced to recomplete the Bonnie Davis #1 well in Jones County, Texas. The well has been reevaluated by geologist and a summary of the geological work is included in this report. After certain surface work is completed, Maverick will attempt to recomplete the Penn Lime at 2,960-2,968 and expect results similar to the three offset wells described in this report. Work has commenced on the surface work and the recompletion work will begin when completed. The top of the Penn Lime (Canyon) zone at 2960 had excellent oil and gas mud log shows, and the GR-DIL, Density-Neutron and microlog indicated pay. The mud log shows that the maximum drill break is at 2962 and e-logs showed best porosity and Sw at 2966-70. A second zone occurs at 2974-82, and whereas it has a drilling break, good SP, and excellent porosity (19%) from the density log, the drop off in resistivity suggests a mixed oil and gas reservoir. It has no mud log show. If a completion is in contact with this zone it may produce water. A third Zone at 2990-3000 is very porous (22%), excellent SP (relative permeability), but resistivity is less than 1 ohm-meter, and if a completion is in contact with this zone, it will produce water. It also has no mud log show. Three other Penn Lime producers shown on the map below had impressive initial production rates of 55, 115 and 137 Bopd…none of the 3 wells initially produced water. Bonnie Davis #1 was perforated 2960-68 and was acidized (unknown volume, but likely 250 gal 15% HCl as in the other 3 wells). The next day, the operator immediately set CIBP at 2400'. It is assumed the zone was abandoned because it produced water, the speculation that the acid broke through to one or both of the high porosity, low resistivity zones beneath the top of the Penn Lime. Comments by the Trenergy engineer have been made that the bond logs over different zones "are not good". When or if the decision to recomplete this zone after drilling out the plug at 2883, the top zone from 2960-2970 must be cement-squeezed before the zone is reperforated and acidized. Mud log shows were encountered an e-logs indicated pay in the Breckinridge at 2200-2206, 2207-2211, and 2218-2222. Royal Texan may not have tested this zone. Two days later, Royal Texan tested the Hope Lime at 2102-2108. The Hope lime produced a few barrels of oil, and operations were suspended. It is possible the Breckinridge Lime at 2208-2215 but no record exists. In August 4-6, 2021, Trenergy became operator (with Maverick Energy Group 50% partner) and tested the Breckinridge and Hope Limes for 3 days. Prior to testing these zones a plug or bridge plug was tagged at 2883', although Royal Texan reported setting a CIBP at 2400' following the initial test of the Penn Lime. The Breckinridge Lime was tested without stimulation at 2208-15 and swabbed slight oil and hydrocarbon gas. It is recommended this zone be retested, with perforations extended from 2200-05, 2207-11 and 2218-22, followed by acid stimulation recommended by Trenergy. The Hope Lime was tested 2102-2108 and stimulated with 1250-1500 gal. gelled acid at 225-250 gal. per foot. A small amount of oil and gas was recovered during swab runs. It is recommended that the Hope Lime be reperforated 2100-04, 2107-10 and 2118-22 and acid stimulated as recommended by Trenergy. Duyuru • Dec 08
Maverick Energy Group, Ltd. (OTCPK:MKGP) entered into a binding agreement to acquire 100% stake in Pass Creek Resources, LLC for $10.5 million. Maverick Energy Group, Ltd. (OTCPK:MKGP) entered into a binding agreement to acquire 100% stake in Pass Creek Resources, LLC for $10.5 million on December 6, 2022. As part of consideration, Maverick will pay the seller 60 million restricted shares of its common stock. Pass Creek Resources, LLC owns a 100% working interest and a 77.5% net revenue Interest in the Adena Oil and Gas Field located in Morgan County, Colorado. Duyuru • Nov 24
Maverick Energy Group, Ltd. Adds Eldar Hasanov to its Technical Advisory Board Maverick Energy Group, Ltd. announced the formation of the company's Technical Advisory Board. The company's Board of Directors has approved a third member of its professional technical advisory board to help advise and direct Maverick in building a successful and profitable energy company. Joining Mr. Neville Henry and Mr. Hugh Idstein on Maverick's Technical Advisory Board is Mr. Eldar Hasanov. Mr. Hasanov has more than 25 years of extensive experience in all aspects of exploration and development geology. Mr. Hasanov's formal education includes a Master of Science in Petroleum Geology from Azerbaijan State Oil Academy, Baku, Azerbaijan; the Graduate Program, Petroleum Geology & Geophysics from Texas A&M University, College Station, Texas, USA; a Post Graduate Program, Geology & Geophysics Azerbaijan State Academy of Science, Geological Institute, Baku, Azerbaijan; and a certificate program in Management in Energy from Rice University, Houston, Texas, USA. A short summary of Mr. Hasanov's impressive resume includes extensive research and practical work in applied basin modeling, sequence stratigraphy in both sandstone and carbonate reservoirs; extensive experience in sedimentology and detailed lithological descriptions; expert skills in 3D reconstruction and mapping of any kind of complexity structural model; extensive research and consulting work on exploration and production of unconventional reservoirs (coal bed methane, fractured shale, diatomite); and expert engineering skills and wide experience in well logging processing and petrophysical interpretation. Duyuru • Nov 22
Maverick Energy Group, Ltd. Appoints Neville Henry to Technical Advisory Board Maverick Energy Group, Ltd. announced the appointment of Mr. Neville Henry to Technical Advisory Board. Neville is a geoscientist with 45 years in the business and a real oil finder with a full resume of Geological, Business and Operational expertise in international and US projects, including managing over 40 US and International JVs operations that included majors, large and small independents in over 30 countries. Under his leadership his teams have found cumulatively several billion barrels of oil equivalent. Operations include onshore and offshore Indonesia, Australia, China, Argentina, Peru, Venezuela, North Sea, Italy, Pakistan, Egypt, Tunisia, Algeria, Eritrea, Jordan, Bahamas, Onshore and Offshore US Gulf Coast and Rockies as well as US shale and unconventional projects including the Eagle Ford, Woodbine and Cline. He began his career with Unocal in 1975 and joined Marathon in 1978 where he spent 14 years developing exploration plays in SE Asia, Australia, and the North Sea. He moved to Houston in 1992 to join Anadarko Petroleum where he spent 13 years pursuing international and domestic opportunities. While at Anadarko he served as International New Venture Manager, International Exploration Manager and International Business Manager. In 2003 he founded Trend Exploration which provides oil and gas consulting to domestic and international companies. Neville was integral in the Eagle Ford revolution particularly in developing Karnes County projects. He brought three Australian companies into the Eagle Ford play before any commercial wells had been identified. He was a co-founder of Eureka that partnered with Aurora Oil and Gas which bought Eureka and was sold to Baytex for over $2.5 billion. Neville holds a degree in Geology from Macquarie University where he graduated with Honors and an executive business diploma from Columbia University. Duyuru • Jul 21
Maverick Energy Group, Ltd. (OTCPK:MKGP), Gravitas Resources Corporation and Pegasi Energy Resources Corporation executed a letter of intent to acquire Working Interest in Certain Oil and Gas Assets in Marion and Cass Counties, Texas. Maverick Energy Group, Ltd. (OTCPK:MKGP), Gravitas Resources Corporation and Pegasi Energy Resources Corporation executed a letter of intent to acquire Working Interest in Certain Oil and Gas Assets in Marion and Cass Counties, Texas on July 20, 2022. Upon completion Maverick will pay the following, (1) a corporate promissory note in the amount of $1 million; (2) a five percent interest in the net monthly operating revenues generated from the acquired assets; and (3) 1,000,000 shares of fully paid, restricted 144 and non-assessable Maverick common stock. When closed, this acquisition will provide a steady cash flow with an attractive upside from completing drilled un-completed (DUC) wells, re-working existing wells, targeting behind pipe reserves and targeting stranded reserves by sidetracking vertical wells with horizontal drain holes using the USR technology. Duyuru • Feb 02
Maverick Energy Group, Ltd. (OTCPK:MKGP) acquired 16,360 Acres in Permian Basin of West Texas for $5.1 million. Maverick Energy Group, Ltd. (OTCPK:MKGP) acquired 16,360 Acres in Permian Basin of West Texas for $5.1 million on February 1, 2022. As part of consideration, Maverick paid the seller 23 million restricted shares of its common stock. The assets acquired by Maverick consist of a 100% working interest in over 16,360 acres (10,000 acres being contiguous), 233 shut-in wells, a profitable, active commercial saltwater disposal and freshwater sales facility, an office in downtown Midland and additional support facilities.
Maverick Energy Group, Ltd. (OTCPK:MKGP) completed the acquisition of 16,360 Acres in Permian Basin of West Texas on February 1, 2022. 