Maverick Oil and Gas Initiates First Production from Its Successful La Duquesa Prospect in Zapata County, Texas.

FORT LAUDERDALE, Fla. -- Maverick Oil and Gas, Inc. (OTCBB:MVOG) ("Maverick") today announced the commencement of production from its successful La Duquesa prospect in Zapata County, Texas. The La Duquesa #1 well commenced production on July 29th, 2005 and is currently producing at a rate of 2,600 MCF and 42 BC per day. Maverick owns a 31.25% Working Interest (23.4375% NRI) in the La Duquesa #1 and the 1,248 Acre prospect area.

Pending the results of further production testing, up to an additional 5 wells could be drilled on the acreage in order to fully develop the prospect. V. Ray Harlow, Chief Executive Officer of Maverick stated "The initiation of production from this prospect validates the development of the Company's expanding position in this exciting area. We are extremely pleased with the success we have enjoyed to date in this area and look forward to further expanding our presence there."

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 current 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. In connection with our announced drilling programs, important factors that could cause actual results to differ materially from our expectations, include but are not limited to (1) whether long term production results will justify the drilling of additional wells, (2) when such additional wells may be drilled (3) 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; (4) our ability to finance our portion of the costs of drilling future wells on the La Duquesa acreage; and (5) 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.