RICHMOND, Texas, Jan. 20, 2009 (GLOBE NEWSWIRE) -- Monogram Energy, Inc. (Pink Sheets:MGRN) announced today that the Company is negotiating with Northamerican Energy Group, Inc. to acquire 3 oil leases comprising approximately 20 wells. These leases are in the Corsicana, Texas area, and occupy nearly 350 acres.
Mr. Billy King, Chief Executive Officer of Monogram Energy, Inc. stated, "If these talks are successful, it gives us another opportunity to increase our base of producing assets."
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.
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.