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Monogram Energy Inc. Continues Acquisition Program Monogram Energy Inc. (PINKSHEETS: MGRN) is pleased to announce it has entered into negotiations to acquire a 25% working interest in a re-work well located in the North Dakota section of the Williston Basin. This extends a relationship reported earlier, and represents the second project of which the Company hopes are many to come. This well was drilled in February 2006, and requires washing with solvent to bring it back into production. Production potential is estimated at 1,200-1,400 barrels per day. The Williston basin represents one of the largest North American oil finds in history.
Mr. Billy King, Chief Executive Officer of Monogram Energy, Inc., stated, "We are excited to continue making progress with our acquisition strategy, and we believe this well is a good fit for our program."
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.
About Monogram Energy, Inc.:
Monogram Energy, Inc. is an independent energy company engaged in the acquisition, development, and exploitation of oil and gas properties. The Company specializes in acquiring oil & gas leases with proven reserves that have the potential for increased production.
Billy D. King, the Chairman & CEO, is a graduate of St. Mary's University School of Law, and has been in the field of oil & gas law in excess of thirty years.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, the forward-looking matters discussed in this news release are subject to certain risks and uncertainties which could cause the Company's actual results and financial condition to differ materially from those anticipated by the forward-looking statements including, but not limited to, the Company's liquidity and the ability to obtain financing, the timing of regulatory approvals, uncertainties related to corporate partners or third-parties, product liability, the dependence on third parties for manufacturing and marketing, patent risk, copyright risk, competition, and the early stage of products being marketed or under development, as well as other risks indicated from time to time in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
Additionally, this release may not be considered as legal, accounting, or investment advice, and is not, and may not be considered, a solicitation for the purchase of any securities issued by Monogram Energy, Inc.
Please contact a Managing Member of MicroCap Management, LLC. Public companies seeking to be profiled on TheMicrocapTimes.com should contact a Managing Member of MicroCap Management, LLC at the corporate headquarters listed below.
Contact: Monogram Energy, Inc. Billy D. King 3320 FM 359 Richmond, TX 77469 Phone: (281) 341-5255 Fax: (281) 341-1171 Email: info*monogramenergy.com Website: http://www.monogramenergy.com
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