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Maverick Minerals Corp. (fka MVRM) RSS Feed

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Maverick closes on producing oil and gas lease in Texas SUN VALLEY, ID, Aug. 31 /PRNewswire-FirstCall/ - Maverick Minerals Corporation, ('Maverick' or 'the Company') OTC Bulletin Board: (MVRM), is announcing today that it has closed the purchase of a 6,000 +/- producing oil lease in central Texas from a private Texas Corporation. The property hosts at least 58 well bores drilled to approximately 5,850' with 10 of those wells producing 35 BOPD at present. Maverick has developed a workover plan and budget for the remaining 48 well bores and will begin the program in September subject to availability of equipment. Maverick has received a 'Reserves and Valuation Report' on the subject property which details multiple developmental opportunities, in addition to existing production, going forward. Maverick will be providing further information on its plans for optimization in the near future. SOURCE Maverick Minerals Corporation
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