Message #5 From:
Stock News Bot Date: August 10, 2005 04:26:00 AM
MVOG News Maverick Oil and Gas Announces the Appointment of a Former ExxonMobil Executive to Its Board Of Directors
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Aug. 10, 2005--Maverick Oil and Gas, Inc. (OTCBB:MVOG) ("Maverick") today announced the appointment of Mr. Lance E. Johnson to the Company's Board of Directors. In addition to his position as an independent member of the Board, Mr. Johnson will also serve as a member of the Company's audit committee. Concurrent with Mr. Johnson's appointment, Mr. Michael Garland will resign his position as an independent member of the Board to pursue other business opportunities.
Mr. Johnson is a veteran of 30 years in the energy industry and brings a wealth of knowledge, expertise and experience to benefit the development of Maverick Oil and Gas, Inc. Following service of six years in the United States Air Force as an officer and pilot, Mr. Johnson joined Mobil Oil Corporation in 1975. Mr. Johnson held numerous senior management positions within Mobil Oil Corporation including Managing Director of Mobil Exploration Norway, General Manager of Production for Mobil U.S. Exploration and Production, Chairman and President of Mobil North Sea Ltd. In 1996, Mr. Johnson was appointed Executive Vice President of Mobil Oil Corporation for Supply, Trading and Transportation and in 1998 he assumed responsibility for worldwide New Exploration and Production Ventures. Coincident with the merger of Exxon and Mobil in 1999, Mr. Johnson was appointed Vice President of ExxonMobil Production Company from which position he retired in June, 2002. He holds a B.S. in Mechanical Engineering from Tufts University and a Masters Degree in Industrial Management from Central Michigan University.
V. Ray Harlow, Chief Executive Officer of Maverick said of Mr. Johnson's appointment, "I am extremely excited to welcome Lance to our Board of Directors. I have known him personally since 1993 and have the utmost respect for his character, honesty, work ethic and exceptional abilities. I am certain that his extensive and broad operational experience will prove invaluable to the Company as we continue to execute on our business plan. I would also like to take this opportunity to thank Michael Garland for his dedicated service to the company during its transition from initial start-up to its present level of development, and we all wish him well in his future pursuits."
About Maverick Oil and Gas, Inc.
We are an early stage independent energy company engaged in oil and gas exploration, exploitation, development and production. We currently participate in these activities through the interests we hold in oil and gas exploration and development projects in Texas and Colorado. Our strategy is to continue the development of our existing exploration projects and to expand our operations by acquiring additional exploration opportunities and properties with existing production, taking advantage of the industry experience of our new management team and modern techniques such as horizontal drilling and 3D seismic analysis.
FORWARD LOOKING STATEMENTS
This press release contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding future results, levels of activity, events, trends or plans. We have based these forward-looking statements on our current expectations and projections about such future results, levels of activity, events, trends or plans. These forward looking statements are not guarantees and are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, events, trends or plans to be materially different from any future results, levels of activity, events, trends or plans expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as guidance, may, will, should, could, would, expect, plan, anticipate, believe, estimate, continue or the negative of such terms or other such expressions. The forward looking statements contained in this Press Release include the expectation that we will be able to: (i) develop oil and gas reserves by completing the development of our existing exploration projects, which assumes that we will be able to secure sufficient funding on terms and conditions satisfactory to us, to complete such development efforts; and (ii) acquire additional oil and gas properties on terms and conditions satisfactory to us, and that we will be able to secure sufficient funding, also on terms and conditions satisfactory to us, to finance the acquisition of such properties. As they pertain to our business, in general, important factors that could cause our actual results to differ materially from our expectations, include but are not limited to those factors disclosed in our Annual Report on Form 10-KSB, our other filings with the Securities and Exchange Commission, as well as our other public documents and press releases which can be found on our web site (www.maverickoilandgas.com). Readers are cautioned not to place undue reliance on our forward looking statements, as they speak only as of the date made. Such statements are not guarantees of future performance or events and we undertake no obligation to disclose any revision to these forward looking statements to reflect events or circumstances occurring after the date hereof.
