Archive for the ‘Mammoth Energy Group Inc. MMTE’ Category

Beacon Equity Research Featured Company: Mammoth Energy Group, Inc. (MMTE.PK)

Wednesday, January 9th, 2008

Mammoth Energy Group, Inc. (OTC PK: MMTE) is an energy company in the United States prospering in exploring, developing and extracting shallow gas resources and oil resources. The primary focus of the company is to identify and then evaluate oil and gas prospects. The company also provides expertise and capital for developing projects. MMTE looks for projects that will propose strong potential for commercially viable quantities of oil and gas and contracts with third parties for prospect drilling operations. Their goals also include negotiating production sales contracts and delivering oil & gas production to the marketplace.

The Company owns the drilling rights to a 1,400 acre prospect in Oklahoma’s Noble and Kay Counties. This is enabled, by its wholly-owned subsidiary United Gas OK, Inc. Production, from shallow wells in Noble and Kay county. Oklahoma is expected to provide consistent, reliable cash flow over the next 5-10 years to aid additional exploration and development projects. Mammoth Energy Group has already contracted with United Producers, Inc. to drill the first three wells on this prospect in Noble County.

In addition, the Company holds an 11.25% working interest in 17 producing gas wells in Oklahoma. These interests will provide the necessary cash flows for developing the Noble and Kay County project. Mammoth Energy Group’s focus on the development of shallow gas and oil projects will be in Oklahoma because of the projected high probability of success. The pursuit of low risk projects is what Mammoth Energy Group, Inc. strives to do while acquiring high quality exploring prospects as well.

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Mammoth Energy Group, Inc. (MMTE.PK) Awarded “Speculative Buy” Rating and $0.30 Price Target

Wednesday, December 19th, 2007

Mammoth Energy Group is focused on exploring, developing and extracting shallow gas resources and oil resources. The company identifies and evaluates oil and gas prospects then provides the necessary expertise and capital for development, leading to commercially variable quantities of oil and gas. Mammoth Energy contracts with third parties for prospect drilling operations, negotiating production sales contracts, and delivering oil and gas production to the marketplace.

The Company owns the drilling rights to a 1,400 acre prospect in Oklahoma’s Noble and Kay Counties through its wholly-owned subsidiary, United Gas OK, Incorporated. Plans include drilling up to 60 gas wells on the 1,400 acre prospect over the next two years. The production anticipated from these shallow wells is projected to deliver consistent cash flow over the next 5-10 years which will be used to support further exploration and development projects.

Mammoth Energy Group differentiates itself from other gas exploring companies that invest in large, high-risk projects, by pursing low-risk projects, preferring to systematically build cash flow by cautiously identifying opportunities that offer the best probability for exploration success. Track records have proven that this method has the lowest risk and the highest potential rewards.

In conclusion the analyst who completed the report stated, “Considering our 2010 revenue target and the oil and gas peer group’s average four times Price/Sales multiple, we derive a target price for MMTE shares of $0.30. Accordingly, we are initiating coverage of Mammoth Energy Group, Inc. with a Speculative Buy rating and a $0.30 price target.”

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Wall Street News Alert Featured Company: Mammoth Energy Group Inc. (MMTE.PK) Reports Record Oil Prices

Monday, October 1st, 2007

After the markets closed Friday, Mammoth Energy reported that oil prices rose above $83 a barrel as concerns build regarding the weak dollar and the decline in crude inventories at a key Oklahoma terminal.

The company’s working interests are in gas wells in a field of about 1,045 acres. Mammoth intends to drill more wells on the acreage and could reach a total of 25 wells. Exisiting wells are currently cash flowing positive and a full accounting of the production and engineering of the wells is anticipated by the end of this month.

The CEO of Mammoth Energy Group, Joe V. Overcash, stated, “In my opinion, this is a prime example of why the United States should curb its dependency on foreign oil. There are plenty of domestic resources that can be tapped to provide necessary buildups of crude inventories.”

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Wall Street News Alert Featured Company: Mammoth Energy Group (MMTE.PK) Acquires Working Interest in 17 Producing Wells

Thursday, September 27th, 2007

After the markets closed yesterday, Mammoth Energy announced that it completed the acquisition of a 15% working interest in 17 wells located in Oklahoma. According to the PR, the wells are currently cash flow positive and a full accounting of the production and engineering of the wells is expected to be completed by the end of this month.

The company’s Chief Executive Officer, Joe Overcash, stated, “This acquisition gives us needed immediate cash flow to fund our exploration and development strategies in Oklahoma.” Wall Street News Alert is placing aggressive investors on alert to monitor the progress of the company as it has also recently re-organized the sale of its prior assets to leave the company free of the majority of debt acquired.

The company is expected to drill 3 wells at a time on its Oklahoma property, which will allow the company to use its funds in the most efficient manner. Mammoth Energy is currently focused on quickly expanding its production base in Noble and Kay County by having approximately 30 wells on-line by the end of 2007.

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Wall Street News Alert Featured Company: Mammoth Energy Group, Inc. (MMTE.PK)

Wednesday, September 26th, 2007

Mammoth Energy Group is an oil and gas exploration holding company focused on the development of oil and gas prospects in Oklahoma. Its \mission is to identify and evaluate prospects, and provide the expertise and capital necessary to companies who are believed to have potential to successfully produce large quantities of oil.

Through its newly created subsidiary, United Gas OK, Inc., the company has working interests in 17 producing gas wells and a deposit placed on a 1,400 acre field. According to a report completed by Jackson Engineering, the Herrington Limestone Formation is known to produce sweet gas, with initial production rates as high as 100,000 cubic feet a day.

Yesterday after the markets closed Mommoth Energy announced that it has reorganized the sale of its prior assets, which eliminated a majority of the debt previously obtained. The company also announced that it has acquired the drilling rights to a gas field with proven production, and it believes that the shallow wells will provide consistent cash flow once they are drilled.

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