Mammoth Energy Group, Inc. Announces Successful Drilling of Second Well in Oklahoma
10:06 a.m. 08/22/2008 Provided By Market Wire
WINSTON-SALEM, NC, Aug 22, 2008 (MARKET WIRE via COMTEX) -- Mammoth Energy Group, Inc. (PINKSHEETS: MMTE) is pleased to announce today that drilling on its second Oklahoma well has been successful. The company's second well was drilled to a depth of 600' and encountered a great oil showing at 450' and another showing at a depth of 510'. Completion of this well will take place early next week, and the company anticipates the well to be in production the following week.
"We are excited with the results and look forward to continued success as we move on to our next project," stated Joe Overcash, President of Mammoth. "Management expects production from this second well to be comparable to the first well and possibly exceed that of the first well."
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6 comments:
Yeah - this is GOOD STUFF!!
My Roth accout (where I bought MMTE) will be going up :)
Congrats guys! I wish I had bought in on some of it. I only have the dog. QMNM. :(
Booked 3.23$ AZK @ 3.32. Kept a share. :)
Coin - how many shares are you bouncing for only .09 profit? Seems like a really small margin of profit, but if it works, it works. I never argue with results! ;)
I know QMNM is actin g like a dog, but it has much more potential IMO.
The BK is the key, and Eugene not diluting.
MMTE is gonna make it's move Monday if history repeats itself. Last three runs took place Monday after Friday P/R's.
They haven't even mentioned Nat Gas numbers yet. Long way to go with both of these, but I'm still long & strong.
Lat,
On this, I am just playing...
Only 500 shares, but at these levels, it is almost too easy...
Makes sense coin - you're definitely playing the quick in and out, which is prob. a smart move in this environment.
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