SEC Info - Watt James A - ‘5’ for 8/31/06 re: Maverick Oil & Gas, Inc.

FORM 5

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Form 3 Holdings Reported.

Form 4 Transactions Reported.

1. Name and Address of Reporting Person^*

WATT JAMES A

(Last)

(First)

(Middle)

16415 ADDISON ROAD,

SUITE 850

(Street)

ADDISON

75001

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
MAVERICK OIL & GAS, INC. [ MVOG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Chief Executive Officer

3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
8/31/06

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)	4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned at end of Issuer's Fiscal Year (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	8/2/06 ⁽¹⁾		J	0 ⁽¹⁾	D	$0 ⁽¹⁾	0	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)	5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock	⁽²⁾	8/2/06		A	1,000,000		⁽²⁾	⁽²⁾	Common Stock	1,000,000	$0	8,500,000	D
Employee Stock Option	⁽³⁾	8/2/06		A	7,500,000		⁽³⁾	⁽³⁾	Common Stock	7,500,000	$0	8,500,000	D

Explanation of Responses:

(1) Mr. Watt became a director and executive officer of the Company an August 2, 2006. He did not beneficially own any shares of the Company's common stock at that time.

(2) By agreement dated August 2, 2006, the Company agreed to issue options to purchase 7,500,000 shares of common stock at an exercise price of $0.75 per share. The options vest in five equal annual increments commencing on August 2, 2007. The options expire on August 2, 2016.

(3) By agreement dated August 2, 2006, the Company agreed to issue 1,000,000 shares of restricted stock to Mr. Watt. The shares vest in five equal annual increments commencing on August 2, 2007.

	/s/ James A. Watt	12/8/06
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

____________ Transaction Codes:
A	Grant, award or other acquisition pursuant to Rule 16b-3(d).
J	Other acquisition or disposition.

Watt James A – ‘5’ for 8/31/06 re: Maverick Oil & Gas, Inc.

On: Monday, 12/11/06, at 12:10pm ET · For: 8/31/06 · As: Director and Officer · Accession #: 890163-6-786 · File #: 0-50428

Previous ‘5’: ‘5’ on 2/13/04 for 12/31/03 · Latest ‘5’: This Filing

Annual Statement of Changes in Beneficial Ownership of Securities by an Insider — Form 5 — SEA’34
Filing Table of Contents

This ‘5’ Document is an XML Data File that may be rendered in various formats:

Watt James A – ‘5’ for 8/31/06 re: Maverick Oil & Gas, Inc.

On: Monday, 12/11/06, at 12:10pm ET · For: 8/31/06 · As: Director and Officer · Accession #: 890163-6-786 · File #: 0-50428

Previous ‘5’: ‘5’ on 2/13/04 for 12/31/03 · Latest ‘5’: This Filing

Annual Statement of Changes in Beneficial Ownership of Securities by an Insider — Form 5 — SEA’34Filing Table of Contents

This ‘5’ Document is an XML Data File that may be rendered in various formats:

Annual Statement of Changes in Beneficial Ownership of Securities by an Insider — Form 5 — SEA’34
Filing Table of Contents