SOURCE: Mammoth Energy

April 28, 2008 08:30 ET

Mammoth Energy Announces LOI to Acquire Sport Technology, Inc., a Leading Action Sports Products Company

WINSTON-SALEM, NC--(Marketwire - April 28, 2008) - Mammoth Energy Group, Inc. (PINKSHEETS: MMTE) announced today that the Company has recently finalized a Letter of Intent (LOI) to acquire Sport Technology, Inc., a leading innovator in action sports and sport technology products. In addition to Sport Technology's unique and innovative flagship product the Flowboard that lets riders surf without waves, ride without snow, and carve 45 degree turns with no resistance and fluid transitions rail to rail, the Company also produces a wide array of gear and accessories, specialty boards, long boards, snowskates, skateboards, and more. More Corporate information can be found at on products and patents.

According to Mike Kern, the CEO of Sport Technology, "We have been making spectacular progress in gaining acceptance and visibility in the dynamic action sports products industry. This is a segment that is growing by leaps and bounds, and is already the Number One category in the entire sporting goods industry, outselling many other traditional categories. Interest our products has been through the roof in response to our marketing efforts, and we are incredibly optimistic about our prospects as we move forward."

The pending acquisition of Sport Technology, Inc. is part of an overall change in direction for Mammoth Energy. As part of this strategy, Mammoth Energy will be taking the necessary steps to institute a name change, as well as a symbol change and application for a new CUSIP number. The Company is still exploring options for its energy division, and will release more specific details as they become available.

About Mammoth Energy Group, Inc.

Mammoth, 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 cover approximately 1,400 acres.

More information is available at the company's website at

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.

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