SOURCE: Mammoth Energy Group, Inc.

September 26, 2007 16:44 ET

Mammoth Energy Group Announces Acquisition of Working Interest in 17 Producing Wells

WINSTON-SALEM, NC--(Marketwire - September 26, 2007) - Mammoth Energy Group, Inc. (PINKSHEETS: MMTE) announced today that it has completed the acquisition of a Fifteen Percent working interest in 17 producing wells in Oklahoma.

Mammoth, through its newly created wholly owned subsidiary, United Gas OK, Inc., has acquired the working interest for shares of restricted stock valued at $225,000.00 based on partially completed engineering of the production. "This acquisition gives us needed immediate cash flow to fund our exploration and development strategies in Oklahoma," stated Joe Overcash, CEO.

The working interests are in gas wells in a field of approximately 1,045 acres. Mammoth expects more wells to be drilled on the acreage, possibly up to a total of 25 wells. The wells are currently cash flowing positive and a full accounting of the production and engineering of the wells is anticipated by the end of October.

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 which 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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