Petrolympic Tests Well in Tx. Maverick Basin

- Petrolympic Tests Well in Tx. Maverick Basin

Tuesday, August 23, 2011
Petrolympic Ltd.

Petrolympic announced the completion of the Acid Stimulation on the 80-2V well located on the Chittam Ranch property in the Texas Maverick Basin. The operator, "Big Shell Oil & Gas, Inc.", stimulated the lowest level reservoir and will appraise the reservoir characteristics of multiple stacked oil bearing horizons starting with the bottom and working its way up. The target reservoir is now on test and Petrolympic expects to announce production rates in the near term.

"Well 80-2V responded extremely well to our stimulation techniques which included the use of new acids that were specifically designed to maximize production," commented Robert Kinsey, Petrolympic's Chief Engineer. "We are currently testing and expect to have production numbers out in the near future. I am very pleased with our progress to date and we hope to discover additional untapped potential as we work our way up through the multiple hydrocarbon bearing horizons."

"This was a low cost vertical well which we were able to complete in a relatively short period," said CEO Mendel Ekstein. "The geology which underlies well 80-2V is prevalent throughout the property and if the oil production rate warrants expansion our goal is to drill multiple wells at 40 acre spacing on the 8,000 acre Chittam Ranch Property which would provide for significant production."

During drilling of the well, Petrolympic penetrated 7 oil and gas bearing horizons. The Chittam Ranch well is being drilled by Petrolympic as part of an earn in agreement with Texas HBP and Shell Western E&P, pursuant to which Petrolympic has the right to earn a 50% working interest (yielding a 37.5% net revenue interest) in the Chittam Ranch property.

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Maverick Boosts Reserves at Blue Ridge Dome

- Maverick Boosts Reserves at Blue Ridge Dome

Wednesday, June 29, 2011
Maverick Drilling & Exploration Ltd.

Maverick Drilling & Exploration announced a significant upgrade to Maverick's 2P reserves on its flagship asset, Blue Ridge Dome, by approximately 26.8 million net oil barrels for Maverick's share of its leases. The reserves reflect no barrels equivalent in natural gas and are all true liquid oil barrels.

The reserve upgrade is a result of a combination of new lease acquisitions on Blue Ridge Dome and further analysis of results of Maverick's ongoing drilling program. A comparison to previously disclosed reserves is set out below:

Net Maverick Reserves

	Proved 1P (million bbls)	Proved + Probable 2P (million bbls)
ISO prospectus	7.8	25.6
Today	12.4	52.4
9 month increase (%)	59%	104%

Approximately 7.6 million net 2P barrels of the increase are the result of the company's improvements on those Blue Ridge Dome leases held at the time of listing (in September 2010). The remaining 19.2 million 2P barrels relate to acquisitions and expansion of holdings in the field.

Commenting on the upgrade, Maverick's executive chairman, Mr. Don Henrich said, "This is a superb outcome in Maverick's first nine months as a listed company. The substantial upgrade highlights the vale of Blue Ridge Dome, and the inherent potential of Boiling Dome, a piercement type salt dome with similar characteristics. The reserve upgrade underpins our aggressive acquisitions and in-field drilling and completion program which is achieving record production month over month for the past several months."

As previously announced, the company holds considerably larger net acreage on Boiling Dome than on Blue Ridge Dome. The Directors expect to announce maiden reserves for Boiling Dome later this calendar year, after commencement of the pilot drilling program.

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Maverick Completes Acreage Acquisition at Boling Dome

Maverick Completes Acreage Acquisition at Boling Dome

Friday, April 15, 2011
Maverick Drilling & Exploration Ltd.

Maverick Drilling has completed closing on the acquisition of an additional 850 net acres on Blue Ridge Dome and 740 net acres on the Boling Dome. The net effect of these are an increase from the original 838 net acres held at listing to a current position of approximately 4,100 net acres held on the two domes.

On Blue Ridge Dome, this reflects more than a 100% increase in net leasehold acreage from Maverick's original holdings at listing in September 2010. The acreage is a combination of outer band acquisition adjoining the company's existing acreage and additions to inner fairway holdings.

On Boling Dome, the additions of approximately 740 net acres reflect an increase of 46% from Maverick's original acquisition of 1,625 net acres in September 2010 following listing. These new acquisitions are within the confines of the defined Boiling Dome field, and have had previous drilling success in past decades.