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Mammoth Energy Group, Inc. Announces That Drilling Will Take Place in Similar Area as Other Oil Companies
Wednesday June 11, 8:30 am ET
WINSTON-SALEM, NC--(MARKET WIRE)--Jun 11, 2008 -- Mammoth Energy Group, Inc. (Other OTC:MMTE.PK - News) announces that it will begin drilling in the same area as AGGI and NFX. AGGI, another oil and gas company, had record sales and growth in 2007 with net revenues of $709,894.00 and gross revenues of over $9,000,000.00. Mammoth Energy currently holds 1,400 acres in the same area, as it is looking to exploit the geological values of this area. Mammoth Energy can really benefit from drilling in an area that is rich in oil and gas.
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"This area of operation is very hot for oil and energy companies," stated CEO and President Joe Overcash. "This will give Mammoth a chance to get a piece of the action in this area."
Mammoth Energy Group, Inc.
We are focused on developing shallow gas and/or oil projects in northeastern Oklahoma due to the low risk, blanket characteristics in the area that make it possible to drill and produce a well nearly every time. We have continuing revenue from our Rogers County, OK project and with the Noble property hopes to develop its strategy with wells that can be drilled quickly and be positioned to grow consistently each month as new wells are brought on-line.
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