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Mammoth Energy Group
Symbol- MMTE


Texas billionaire T. Boone Pickens said that oil prices will rise above $100 a barrel by the end of 2010 as the global economy recovers.



Oil prices in the $40 a barrel range are "not going to be around much longer," Pickens told a gathering at the James A. Baker III Institute for Public Policy at Rice University in Houston.


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.

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.




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