Published: March 30, 2006
Pinnacle Group Unlimited/Maverick Energy Group Announce Close of Transaction and Plans to Drill Another 25 Natural Gas Wells in West Virginia
Pinnacle Group Unlimited Inc. (OTC: PGPU) and
Maverick Energy Group (MEG) are pleased to announce the close of PGPU's
purchase of all assets and liabilities. As part of the transaction all of
MEG's key personnel will remain with PGPU.
Coinciding with the closing of the acquisition, PGPU is announcing its
plans to move forward on drilling another 25 natural gas wells in W.
Virginia where it has successfully completed 4 wells.
Maverick Energy is the operator of the "Big Foot Field" in West Texas
originally developed by Royal Dutch Shell recently valued at $19 million,
as well as proprietary owner and operator of several natural gas fields and
owner of approximately 50 natural gas leases in West Virginia.
PGPU is a publicly held holding company formed for purchase and
acquisitions that best appreciate shareholder value with its primary focus
in the energy sector.
Further information can be found at or
http://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.
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