Mammoth Energy Group
Mammoth Energy Group, Inc. ("Mammoth") formerly traded on the NASDAQ stock exchange, is now, after its restructuring as an oil and gas exploration company, trading on the Pink Sheets Quotation Service under the ticker symbol MMTE.PK.
The company is managed by Joe V. Overcash, CEO and Clarence Foust, Secretary.
United Gas OK, Inc.
Mammoth has signed an agreement to acquire United Gas OK Inc. an Oklahoma company with working interests in 17 producing gas wells and a deposit placed on a 1,400 acre field and also in Oklahoma that has the potential to drill 60 shallow gas wells.
Our Philosophy
Where other oil and gas exploration companies seem to be focused on hitting ³home runs² with respect to their exploration and drilling philosophy, and seem to be content to spend substantial cash resources to test for large oil and gas reserves, Mammoth, on the other hand, is concentrating on hitting low risk "singles", preferring to methodically build cash flow while keeping an eye open for the occasional opportunity, where when cash flow permits, it is warranted to take a chance and "swing for the fences".
Mammoth is focused on executing 4 primary strategies:
1. To lease large areas of acreage in "hot area".
2. To drill low risk wells that are in or near existing fields.
3. To develop low risk projects in Oklahoma where shallow gas wells can be brought into production with a very high probability of success.
4. To acquire existing production that possesses possibilities for expansion.