.<font color=green>MicroCap-Reports issues an Alert -
Here is a copy of the e-mail alert MicroCap-Reports sent out to it's subscribers this morning, seems they are calling a breakout to run above 20 cents into uncharted waters. Maverick Energy Group Announces
Successful Completion of the First of Two Horizontal Wells
Great news from MKGP. Release in part as follows:
"Maverick Energy Group is pleased to announce the successful completion of the first of two planned Horizontal Wells in Caldwell County, Texas. Maverick has a 12.5% working interest in these wells and was in charge of the supervision for the drilling of the well. Once the production is established on both wells Maverick will become Operator of the wells.
The first well's lateral has been drilled to its targeted footage and the well has been swabbed for several days. Within the next two weeks it is expected that the well will be placed on pump.
Based upon the testing to date, the well could produce anywhere from 25 to 100 barrels per day. The actual amount will not be known until the well has been on pump for several weeks.
"The two horizontal wells are one of three main projects which Maverick is involved in and these two could produce a lot of oil. These wells along with our other two projects in Big Foot, Texas and West Virginia give Maverick a very diverse portfolio for an E & P Company our size" stated Jim McCabe the CEO of Maverick. "As Maverick continues to develop these projects our gross and net income should increase in 2007 and thereafter."
In addition, Maverick, as the operator for Z2, LLC has begun to plan the second phase of its development of the Big Foot Field with the $40,000,000 Advancing Credit Facility which Gasrock made available to Z2 in the second half of last year. Maverick hopes to drill at least an additional 20 PUDS at Big Foot this year and increase the gas line capacity in the second half of 2007." http://www.pinksheets.com/quote/news.jsp?symbol=MKGP MKGP EXTREMELY STRONG! SHORT TERM TARGETS WELL WITHIN REACH!
With todays news release MKGP's fundamentals continue to strengthen. All short term technical resistance appears to be out of the way and the 50 day MA crossed the 100 day MA several weeks ago, it appears to us all systems are in place for an explosion to the upside.
The chart shows 2 solid CS closing at the high each day with more than respectable volume in Friday's session. The 50 day average volume is 399k shares. At 745k shares on Friday we have almost doubled the average volume. In our estimation the volume helps confirm the breakout.
We don't see any real resistance until the $0.15 area and it is our conclusion that resistance is somewhat light.
The strong buying at the end of Friday's session, the recent blocks that have been overhanging the market apparently gone, the outstanding news released after the close and oil prices above $60 per bbl and holding can only mean we will hit our short term target of $0.25 sooner rather than later.
Remember $0.22 is the all time high for MKGP. Any other prices prior to MKGP being public are not relevant. We say that because when we break $0.22 and hit our short term target we are completely in uncharted waters. In our opinion that means, at least on a short term basis, the stock could literally gap up and go anywhere. Expect that to happen when we break $0.22. We will experience some retracement and consolidation after that gap and then expect the march to higher ground to proceed from there.
Hold on to your hats! All indications are we are in for a ride next week and Monday in particular.
Certainly there is more news on the way. Maverick has been consistent in their releases and we expect that to continue.
I must implore you sideliners not to wait any longer. Resistance is Futile! The break out is here! The fundamentals are stronger everyday. This could be your stock market story of a lifetime. DON'T BLOW IT!!!!