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Wednesday, August 27, 2008 8:31:52 AM
Group, Inc. (PINKSHEETS: MMTE) is pleased to announce details regarding its
latest acquisition. In an effort to increase revenue production, Mammoth has
acquired a 5% working interest in a completed well in Pawnee County, Oklahoma.
This well has a measured output of 7-10 barrels of oil per hour. The company's
first drilled well has a production rate of 10-15 barrels per day and the second
completed well will have production numbers available for release early next
week. All three of these wells have been drilled in Pawnee County and are
producing monthly revenue for the company. Drilling on the Noble County leases
has been delayed slightly. The company expects to commence drilling three
additional wells in Noble County in 2 to 3 weeks and expects to have at least 9
producing wells by year-end. Because of the delays with the drilling contractor,
the company pursued and acquired working interest in the Pawnee leases that have
exceeded all expectations.
"The company owes its best efforts to its shareholders," stated Joe Overcash,
President of Mammoth. "Acquiring interest in producing wells is a positive move
that creates revenues and shareholder value. Management continues to seek new
leases and well interest."
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