Wall Street News Issues Trade Alert for Monogram Energy, Inc. (MGRA.PK)
After the market closed on Friday, Monogram Energy announced that it has obtained rights to workover the Mobhun 1 well in Pecos County, Texas. Mobhun 1’s last production was in 1998 when it was shut down because of the low oil prices. The Company's analysis of the well and its reserves anticipate it should produce approximately 150-250 barrels per month. The CEO of the company stated, “With our second well acquisition announced today, management feels confident that we will meet our goal of 50 additional wells for our Workover Program by year's end. We will continue to identify and procure…