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<?xml version="1.0" encoding="windows-1252"?> |
<ownershipDocument> |
| <schemaVersion> X0202 </schemaVersion> |
| <documentType> 5 </documentType> |
| <periodOfReport> 2006-08-31 </periodOfReport> |
| <notSubjectToSection16> 0 </notSubjectToSection16> |
| <form3HoldingsReported> 0 </form3HoldingsReported> |
| <form4TransactionsReported> 0 </form4TransactionsReported> |
| <issuer> |
| | <issuerCik> 0001193159 </issuerCik> |
| | <issuerName> MAVERICK OIL & GAS, INC. </issuerName> |
| | <issuerTradingSymbol> MVOG </issuerTradingSymbol> |
| | </issuer> |
| <reportingOwner> |
| | <reportingOwnerId> |
| | | <rptOwnerCik> 0001197293 </rptOwnerCik> |
| | | <rptOwnerName> WATT JAMES A </rptOwnerName> |
| | | </reportingOwnerId> |
| | <reportingOwnerAddress> |
| | | <rptOwnerStreet1> 16415 ADDISON ROAD, </rptOwnerStreet1> |
| | | <rptOwnerStreet2> SUITE 850 </rptOwnerStreet2> |
| | | <rptOwnerCity> ADDISON </rptOwnerCity> |
| | | <rptOwnerState> TX </rptOwnerState> |
| | | <rptOwnerZipCode> 75001 </rptOwnerZipCode> |
| | | <rptOwnerStateDescription></rptOwnerStateDescription> |
| | | </reportingOwnerAddress> |
| | <reportingOwnerRelationship> |
| | | <isDirector> 1 </isDirector> |
| | | <isOfficer> 1 </isOfficer> |
| | | <isTenPercentOwner> 0 </isTenPercentOwner> |
| | | <isOther> 0 </isOther> |
| | | <officerTitle> Chief Executive Officer </officerTitle> |
| | | </reportingOwnerRelationship> |
| | </reportingOwner> |
| <nonDerivativeTable> |
| | <nonDerivativeTransaction> |
| | | <securityTitle> |
| <value> Common Stock </value> |
| </securityTitle> |
| | | <transactionDate> |
| <value> 2006-08-02 </value> |
| <footnoteId id="F1"/> |
| </transactionDate> |
| | | <transactionCoding> |
| <transactionFormType> 5 </transactionFormType> |
| <transactionCode> J </transactionCode> |
| <equitySwapInvolved> 0 </equitySwapInvolved> |
| </transactionCoding> |
| | | <transactionAmounts> |
| <transactionShares> |
| <value> 0 </value> |
| <footnoteId id="F1"/> |
| </transactionShares> |
| <transactionPricePerShare> |
| <value> 0 </value> |
| <footnoteId id="F1"/> |
| </transactionPricePerShare> |
| <transactionAcquiredDisposedCode> |
| <value> D </value> |
| </transactionAcquiredDisposedCode> |
| </transactionAmounts> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 0 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> D </value> |
| </directOrIndirectOwnership> |
| </ownershipNature> |
| | | </nonDerivativeTransaction> |
| | </nonDerivativeTable> |
| <derivativeTable> |
| | <derivativeTransaction> |
| | | <securityTitle> |
| <value> Restricted Stock </value> |
| </securityTitle> |
| | | <conversionOrExercisePrice> |
| <footnoteId id="F2"/> |
| </conversionOrExercisePrice> |
| | | <transactionDate> |
| <value> 2006-08-02 </value> |
| </transactionDate> |
| | | <transactionCoding> |
| <transactionFormType> 5 </transactionFormType> |
| <transactionCode> A </transactionCode> |
| <equitySwapInvolved> 0 </equitySwapInvolved> |
| </transactionCoding> |
| | | <transactionAmounts> |
| <transactionShares> |
| <value> 1000000 </value> |
| </transactionShares> |
| <transactionPricePerShare> |
| <value> 0 </value> |
| </transactionPricePerShare> |
| <transactionAcquiredDisposedCode> |
| <value> A </value> |
| </transactionAcquiredDisposedCode> |
| </transactionAmounts> |
| | | <exerciseDate> |
| <footnoteId id="F2"/> |
| </exerciseDate> |
| | | <expirationDate> |
| <footnoteId id="F2"/> |
| </expirationDate> |
| | | <underlyingSecurity> |
| <underlyingSecurityTitle> |
| <value> Common Stock </value> |
| </underlyingSecurityTitle> |
| <underlyingSecurityShares> |
| <value> 1000000 </value> |
| </underlyingSecurityShares> |
| </underlyingSecurity> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 8500000 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> D </value> |
| </directOrIndirectOwnership> |
| </ownershipNature> |
| | | </derivativeTransaction> |
| | <derivativeTransaction> |
| | | <securityTitle> |
| <value> Employee Stock Option </value> |
| </securityTitle> |
| | | <conversionOrExercisePrice> |
| <footnoteId id="F3"/> |
| </conversionOrExercisePrice> |
| | | <transactionDate> |
| <value> 2006-08-02 </value> |
| </transactionDate> |
| | | <transactionCoding> |
| <transactionFormType> 5 </transactionFormType> |
| <transactionCode> A </transactionCode> |
| <equitySwapInvolved> 0 </equitySwapInvolved> |
| </transactionCoding> |
| | | <transactionAmounts> |
| <transactionShares> |
| <value> 7500000 </value> |
| </transactionShares> |
| <transactionPricePerShare> |
| <value> 0 </value> |
| </transactionPricePerShare> |
| <transactionAcquiredDisposedCode> |
| <value> A </value> |
| </transactionAcquiredDisposedCode> |
| </transactionAmounts> |
| | | <exerciseDate> |
| <footnoteId id="F3"/> |
| </exerciseDate> |
| | | <expirationDate> |
| <footnoteId id="F3"/> |
| </expirationDate> |
| | | <underlyingSecurity> |
| <underlyingSecurityTitle> |
| <value> Common Stock </value> |
| </underlyingSecurityTitle> |
| <underlyingSecurityShares> |
| <value> 7500000 </value> |
| </underlyingSecurityShares> |
| </underlyingSecurity> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 8500000 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> D </value> |
| </directOrIndirectOwnership> |
| </ownershipNature> |
| | | </derivativeTransaction> |
| | </derivativeTable> |
| <footnotes> |
| | <footnote id="F1"> 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. </footnote> |
| | <footnote id="F2"> 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. </footnote> |
| | <footnote id="F3"> 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. </footnote> |
| | </footnotes> |
| <ownerSignature> |
| | <signatureName> /s/ James A. Watt </signatureName> |
| | <signatureDate> 2006-12-08 </signatureDate> |
| | </ownerSignature> |
| </ownershipDocument> |