MMTE Announces today an update on its first Oklahoma well completion. Upon drilling completion indications of oil and gas at 440 feet and a second zone at 510 feet were encountered. Casing of this well has been completed and cemented as of August 1, 2008. Perforations of this well were completed on August 8, 2008 at depths of 506' to 510', 441' to 448' and 425' to 435'. Upon completion of the last perforation oil began running out of the pipe into the pit with gas. Well has been shut-in and zones broke in at 975 lbs of pressure. Rods and tubing are currently being run on the well, and pump will be turned on once all remaining acid and water are recovered. http://ih.advfn.com/p.php?pid=nmona&cb=1218729765&article=27758687&symbol=NO%5EMMTE
Point being is Mammoth Energy Group has registered above normal pressures on it's first shallow well hitting both oil and gas on strike one and are moving forward to putting it into production. This is a ground floor opportunity to get into a stock with massive upside potential. Unbelievable that it is still trading sub-penny.
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