WINSTON-SALEM, NC--(Marketwire - July 21, 2008) - Mammoth Energy Group, Inc. (PINKSHEETS: MMTE) announces that they have recently received a letter from the
contracted driller giving the situation update.
The contracted driller stated, "Due to the substantial rainfall in Northern
Oklahoma amassing to over twenty inches of rain in the month of June, has
caused major bottlenecking issues with the contracted drill date. With
weather permitting we anticipate a spud date of July 22nd for the first of
the three planned wells on your lease in Noble County, OK. This date is
however subject to change if any more weather delays occur."
"We will put out another press release once the spudding has begun," stated
Joe Overcash, President of Mammoth Energy Group, Inc.
About Mammoth Energy Group, Inc.
Mammoth Energy Group, Inc. is focused on developing shallow gas 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.
It is currently focused on developing its Noble and Kay County properties
in Oklahoma that covers approximately 1,400 acres.
More information is available at the company's website at
www.mammothenergygroup.net
Cautionary note: This report contains forward-looking statements,
particularly those regarding cash flow, capital expenditures and investment
plans. Resource estimates, unless specifically noted, are considered
speculative. By their nature, forward-looking statements involve risk and
uncertainties because they relate to events and depend on factors that will
or may occur in the future. Actual results may vary depending upon
exploration activities, industry production, commodity demand and pricing,
currency exchange rates, and, but not limited to, general economic factors.
Cautionary Note to US investors: The U.S. Securities and Exchange
Commission specifically prohibits the use of certain terms, such as
"reserves" unless such figures are based upon actual production or
formation tests and can be shown to be economically and legally producible
under existing economic and operating conditions.