MGRN
News:
June 16 - Monogram Energy, Inc. in Negotiations for Well in Montana Williston Basin
Monogram Energy, Inc. (OTC: MGRN), an independent energy company engaged in the acquisition, development, and exploitation of oil and gas properties, announced that the Company is in negotiations to work over and complete a well located in the Williston Basin in Montana. A registered professional geologist examined the well and reported the following:
"Based on acceptance of the reservoir model and historical characteristics of the producing formations in the Williston Basin, the well is a viable prospect contingent on plugging back the well bore to above the oil water contact and exploiting existing fracture porosity as a hydrocarbon delivery system. Several features of the well make such a course of action particularly attractive, not least of which is the fact that the well is already drilled and cased."
Mr. Billy King, Chief Executive Officer of Monogram Energy, Inc. stated, "Given this and other studies, it is the generally accepted position that this well has the possibility of producing some 600 barrels per day. Consequently, we are moving forward as quickly as possible."
Mr. King became interested in the production of oil & gas during his ten years of employment as an attorney for the Halliburton Company, and with his representation of independent oil companies during his years as a private practitioner. Monogram Energy's goal is to maintain a high risk/reward profile, thereby enabling them to return the most value to its shareholders.
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