Wall Street News Alert Featured Company: Mammoth Energy Group (MMTE.PK) Acquires Working Interest in 17 Producing Wells
After the markets closed yesterday, Mammoth Energy announced that it completed the acquisition of a 15% working interest in 17 wells located in Oklahoma. According to the PR, the wells are currently cash flow positive and a full accounting of the production and engineering of the wells is expected to be completed by the end of this month. The company’s Chief Executive Officer, Joe Overcash, stated, “This acquisition gives us needed immediate cash flow to fund our exploration and development strategies in Oklahoma.” Wall Street News Alert is placing aggressive investors on alert to monitor the progress of the company…