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Crude oil prices are expected to be high through 2008 on continued world oil demand growth, with only modest increases in world production and existing risks of geopolitical instability. According to studies, total natural gas consumption is estimated to have increased by 6 percent in 2007, driven largely by increases in the residential, commercial, and electric power sectors that occurred earlier in the year. Non-OPEC oil production is expected to rise by about 0.9 million bbl/d in 2008 and by 1.6 million bbl/d in 2009. Mammoth Energy Group, Inc. (MMTE), through its wholly owned subsidiary United Gas OK, 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.
Mammoth Energy Group, Inc., through its United Gas OK Inc. subsidiary, has working interests in 17 producing gas wells and a 1,400 acre prospect in Oklahoma that could potentially support 60 shallow gas wells. The Company plans to explore and develop natural gas and crude oil resources, mainly in Oklahoma.
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Beacon Equity Research Disclosure
The analysts contributing to this report do not hold any shares of Mammoth Energy Group (MMTE) Additionally the analysts contributing to this report certify that the views expressed herein accurately reflect the analysts' personal views as to the subject securities and issuers. The analyst(s) writing this report recognize and aspire to all of the CFA Institute Guidelines for Independent Research. Beacon Equity Research (“Beacon”) certifies that no part of the analysts' compensation was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analysts in the report. Beacon Equity Research and its affiliates have been compensated one million shares from Star Consulting for enrollment in this research program and to coordinate a marketing program. This report is based on data obtained from sources we believe to be reliable, but is not guaranteed as to accuracy and does not purport to be complete. As such, the report should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed herein are subject to change.
