MKGP Maverick Energy Group Ltd (PK)

In the news release, "Maverick Energy Group Announces First Quarter 2008 Net Profit Increase of 97% Over Same Quarter 2007" issued earlier today by Maverick Energy Group, LTD (PINKSHEETS: MKGP), we are advised by the company that the headline should read "Maverick Energy Group Announces Second Quarter 2008 Net Profit Increase of 97% Over Same Quarter 2007" rather than "Maverick Energy Group Announces First Quarter 2008 Net Profit Increase of 97% Over Same Quarter 2007" as originally issued. Complete corrected text follows.

Maverick Energy Group Announces Second Quarter 2008 Net Profit Increase of 97% Over Same Quarter 2007

Six-Month Profits Nearly Triple

TULSA, OK -- August 20, 2008 -- Maverick Energy Group, LTD (PINKSHEETS: MKGP) is pleased to announce operating results for second quarter of fiscal year 2008, ending March 31st.

Maverick's revenues for the three-month period increased significantly, going from $4,553,543 in the second quarter of 2007 to $5,928,734 for the second quarter of 2008 over the same three-month period of 2007, representing an increase of approximately 30 percent in revenues in the second quarter year over year. Maverick also reports that for the second quarter of 2008, the company's net income was $145,529 as compared to $73,669 in the same quarter last year. This represents a same quarter increase of approximately 97 percent over the company's same quarter in 2007.

Maverick's revenues for the six months ended June 30, 2008 were $12,410,842, up approximately 57 percent from $7,874,159 for the first six months of 2007. Net income for the six months was also up approximately 190 percent, going from $87,100 during the first six months of last year to $256,290 for the first two quarters of 2008.

"Once again, the management of Maverick Energy Group is pleased to announce increasing revenues and net profits for both the most recent three and six-month periods. We believe that through continued concentration on low-risk, high-reward drilling programs and efficient operating procedures, we can continue to grow Maverick and further build upon the strong foundation we already have in place. Our outlook for the coming year looks very promising as we expand our lease holdings and increase our well count in areas such as Doddridge and Harrison counties, West Virginia. As mentioned in the latest edition of our Drill Bits newsletter, available on our website, we have identified over 30 drilling sites on our newest leases and plan on commencing drilling on the first five of those sites in the near future. These new drilling programs, which we will operate ourselves, coupled with ongoing oil and gas from our existing wells and revenues from our operations in the Big Foot Field in Texas should ensure solid growth for the company for the foreseeable future," says Jim McCabe, CEO of Maverick Energy Group, LTD.

About Maverick Energy Group, LTD

Maverick Energy Group LTD, based in Tulsa, OK, is engaged in the domestic exploration and production of crude oil and natural gas. Its management team has over 150 combined years of experience in the oil & gas and financial services industries. Maverick Energy is the Operator of the "Big Foot Field" in Texas, which was originally developed by Royal Dutch Shell (RDS-A). The Big Foot Field has approximately 310 production wells in the field, of which approximately 225 are presently revenue producing. Drilling operations in the Big Foot Field are being funded through a $40,000,000 Advancing Credit Facility which Z2, LLC closed with Gasrock Capital, LLC in August of 2006, amended to $75,000,000 in November of 2007. Maverick is also the part owner of several producing natural gas wells in West Virginia and owns additional natural gas leases in West Virginia. The President of Maverick also serves as Chief Financial Officer of Z2, LLC. For more information on Maverick Energy, please visit the company's website at: www.maverickenergygroup.com or www.pinksheets.com.

This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology; changes in laws and regulations, includes codes and standards, intellectual property rights, and tax matters; the uncertainty of the oil & gas market; including the geopolitical environment not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact: Tony Drake Phoenix IR Associates 281-579-1602 phoenix-ir@earthlink.net