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MVOG News Maverick Oil and Gas, Inc. Announces Its Entry into the Fayetteville Shale Play in Arkansas and Issues Operational Updates

The company plans to acquire upwards of 100,000 net mineral acres in the trend and currently has commitments for approximately 50,000 net acres toward that goal. While this play is still in its early stages, comparisons are already being made with the prolific Barnett Shale development in North Texas with which the Fayetteville Shale has much in common.

Initial published information suggests that a horizontal well development program could yield wells with initial potentials approaching 4.0MMCFD, initial production rates averaging in excess of 2.0MMCFD and ultimate reserves of 1.3 - 1.7 BCF per well. Drilling and completion costs to develop the Fayetteville Shale at expected depths of 3,000' to 6,000' could be expected to range from $1.4MM to $1.8MM per well.

The company expects to initiate drilling activities during the first quarter of 2006 and pending positive early results should have a development plan in place and being executed by mid-2006.

The company also announced that the first well drilled in its Barnett Shale holdings, the Pauline Cook #1 well has been fracture stimulated and commenced producing to sales on September 2, 2005 and is currently producing at approximately 500MCFD while still cleaning up post stimulation. This well was drilled on this approximate 1,942 acre leasehold in which the Company has a 50% WI and (31.25% NRI) and where a further 11 development wells could be drilled in the future, if warranted.

Additionally in the Barnett Shale, the first well drilled on acreage in which the Company has a 25% WI (15.625% NRI), the G.B. Portwood GU A-1 has been drilled and production casing set. The well will be fracture stimulated as soon as equipment is available. This well is located on a portion of this approximate 10,400 acre leasehold position on which a further 65 wells could be drilled in the future, if warranted.

Progress on the Company's Whitewater Project in Mesa County, Colorado is continuing with a total of 11 wells now having been drilled. Preparation of a comprehensive development plan including pipeline access is currently underway.

Production from the Company's Zapata County, TX wells is continuing with the Resendez #1 (13.365%WI, 10.02%NRI) producing approximately 1,000MCFD and the La Duquesa #1 (31.25%WI, 23.4375%NRI) producing approximately 2,600 MCFD.

Finally, results to date on the Turner / La Escalera projects have not produced commercially viable results. Any further participation in these projects is under management review.

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. In connection with our announced acquisition of interests and related drilling programs within the Fayetteville Shale play, important factors that could cause actual results to differ materially from our expectations, include but are not limited to (1) whether we can ultimately close on the acreage position we have targeted, where closing is contingent on a number of factors including securing clear title reports and securing the necessary financing to acquire our interests; (2) whether we will be successful in acquiring commitments on additional acreage (3) our ability to secure the proceeds necessary to finance our expected drilling program; and (4) whether, and to the extent that wells are drilled, we can extract commercial quantities of oil and gas consistent with the expectations stated in this release, or otherwise, particularly in light of the uncertainties associated with the drilling and extraction of oil and gas reserves. With respect to our interests in the Barnett Shale play and other interests mentioned in this release, important factors that could cause actual results to differ materially from our expectations, include but are not limited to (5) whether long term production results will justify the drilling of additional wells, (6) when such additional wells may be drilled (7) the ability to drill for and extract commercial quantities of oil and gas, in light of the uncertainties actually associated with the drilling and extraction of oil and gas reserves; (8) our ability to finance our portion of the costs of drilling future wells on these projects; and (9) our ability to secure financing for future drilling and exploration projects. 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.