Monogram Energy, Inc. (MGRA.PK) Highlighted by Wall Street News Alert, as Company Expands Business Relationship
Monogram Energy, Inc. (MGRA.PK) reports that it has agreed to an expansion of the business relationship with Northamerican Energy Group Corporation previously announced on June 22, 2007. Terms call for the exchange of restricted common stock between the respective companies. Monogram Energy will receive a 50% interest in 27 wells, which are projected to yield annual revenues of approximately $400,000 following workover. Billy D. King, President and CEO of Monogram Energy, stated, "A number of these wells are going to require minimal workover, which will provide us with a quicker revenue stream, and we anticipate a rapid cost recovery on the…