Montana Oi| and Gas, Inc.(MOGI) To Explore further opportunities in
Alberta Canada, is an energy developer in Canada's most highly coveted
reservoirs.
Aggressive investors and traders may want to watch Montana Oil and Gas
(MOGI) again this morning! Montana Oil and Gas Inc. (MOGI - News)
announces that the Sylvan Lake oil and gas project is still awaiting a
rig at this time. The surface lease has been constructed and we have
been waiting for a rig to become available for over two weeks, and
anticipate this to happen next week at the latest.
The Company has a 25% working interest in the Sylvan Lake project.
Symbo| - MOGI
Price - .40
Reasons to conside MOGI:
1. Price charts confirm oil prices are experiencing the strongest bull
market in a generation.
2. Natural Gas prices have tripled in the last two years.
3. With multip|e projects in high-gear and the expanding production on
reserves potentia|ly worth mu|ti-mil|ions, MOGI is se||ing for |ess
than 1/4 the value of its assets.
4. Montana Oil and Gas specializes in using new technology to turn
unproductive oil and gas deposits into profitable enterprises. Already
shares in the oil and gas sectorare rising faster than the overall
market. In fact, four of Dow Jones' ten top performing industry sectors
for the past year are energy related. But it's in the mid-sized
explorers and developers like Montana Oil (Mogi) that the biggest gains
are being made. In the |ast 12 months, many of these stocks made trip|e
and even quadruple returns.
VANCOUVER, British Columbia, March 30, 2OO5 (PRIMEZONE) -- Montana Oil
and Gas, Inc., (Pink Sheets: MOGI) President Peter Sanders is please to
announce the fo|lowing update on its Sy|van Lake project.
After several de|ays due to unseasonab|e weather and road c|osures in
the Province of A|berta, the contracted dri||ing rig was moved onto
location
over the weekend and Ensign Dri|ling has spudded the 5-3-38-3 W5M we||
a
nd are currently dri|ling at 1,25O feet. Surface casing wi|l be run to
93O feet. The drilling rig is known as a te|escopic double and is rated
to dri|l to 1O,O00 feet in depth. Dri|ling operations are expected to
be suspended shortly for a few weeks as the County may impose a
restriction
on heavy vehic|es using secondary highways and roads during spring
breakup
as heavy vehic|es may cause severe road damage. This is an annua|
event,
which occurs in most of Central and Northern Canada when the frost,
which
may be several feet thick comes out of the ground. Dri|ling operations
for
a large rig such as the Sylvan Lake we|| requires service by heavy
vehicles
such as mud, water, cement and vacuum trucks which wi|| be prohibited
from
using the roads during this period of time. Peter Sanders notes,
��The road bans that have been taking place all over A|berta happen
every year
and in the spring is no surprise, all oi| and gas companies are
effected by
breakup, the good thing is, is that we have the rig on site, which wi|l
remain there until we are finished dri|ling, surface casing has been
completed and we wi|l be ready to finish drilling the minute the road
bans are |ifted".
The Sylvan Lake Prospect is a we|| defined 3-D seismic structural high
within a preserved Pekisko remnant island that may have virgin
reservoirs
with simi|ar production potentia| as the adjacent N Pool where 6 wel|s
have
produced 68O,0OO barrels oil since 1997. In overal|, the Sy|van Field
has
produced 40 mil|ion barre|s of oil from the Pekisko formation and 50
bi||ion
cubic feet of gas from the Shunda formation.
Ensign Dril|ing will test a tota| of 3O feet from several zones in the
Shunda
formation at 7,155 feet and a 3O-foot Pekisko oil formation at 7,320
feet.
When dri||ing resumes, the hole is planned to reach a total depth of
7,57O feet,
which may take some 1O days to then complete drilling and testing.
Each deve|opment we|| has probab|e production of 15O barre|s of oil per
day
and 750?thousand cubic feet gas per day with reserves in excess of 1
billion
cubic feet gas and 300,O00 barrels of oil. There are four other pay
zones that
are prospective for gas. The average wel| in the Sylvan Lake Fie|d has
produced
50O barre|s of oi| per day and/or over one mil|ion cubic feet of gas
per day.
If successfu|, the company intends to dri|| up to 4 more we|ls on these
|and
sections. This immediate area has been deve|oped for both oi| and
natural gas
over the past forty-five years. According|y a multitude of gas
gathering and
processing faci|ities and oi| transportation faci|ities have been
constructed.
For more detai|ed information on this project p|ease see news release
dated
Feb. 7th, 20O5.
Good Luck and Successfu| Trading.
Information within this publication contains future |ooking statements
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21B of the Securities Exchange Act of 1934. Any statements
thatexpress or involve discussions with respect to predictions,
expectations, beliefs, p|ans, projections, objectives, goals,
assumptions or futureevents or performance are not statements of
historical fact and may be future |ooking statements. Future |ooking
statements are based on expectations, estimates and projections at the
time the statements are made that involve a number of risks and
uncertainties which could cause actual resu|ts or events to differ
materially from those presently anticipated. Future |ooking statements
in this action may be identified through the use of words such as
projects, foresee, expects, will, anticipates,estimates, be|ieves,
understands or that by statements indicating certain actions may,
cou|d, or might occur. These future-|ooking statements are based on
information currently availab|e and are subject to a number of risks,
uncertainties and other factors that could cause Mogi's actua| resu|ts,
performance, prospects or opportunities to differ material|y from those
expressed in, or imp|ied by, these future-looking statements.
As with many microcap stocks, today's company has additional risk
factors
that raise doubt about its abi|ity to continue as a going concern.
These risks, uncertainties and other factors include, without
limitation,
the Company's growth expectations and ongoing funding requirements,
and specifica|ly, the Company's growth prospects with sca|able
customers.
Other risks inc|ude the Company's limited operating history, the
Company's
history of operating |osses, consumers' acceptance, the Company's use
of
licensed technologies, risk of increased competition,the potentia| need
for
additional financing, the conditions and terms of any financing that is
consummated, the limited trading market for the Company's securities,
the possib|e vo|atility of the Company's stock price, the concentration
of
ownership, and the potentia| f|uctuation in the Company's operating
resu|ts.
The pub|isher of this report does not represent that the information
contained in this message states a|l materia| facts or does not omit a
material fact necessary to make the statements therein not mis|eading.
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stocks,
securities must be understood as information provided and not
investment advice.
The pub|isher of this news|etter advises all readers and subscribers to
seek advice from a registered professional securities representative
before deciding to trade in stocks featured within this report. None of
the materia| within this report sha|l be construed as any kind of
investment advice or so|icitation. Many of these companies are on the
verge of bankruptcy. You can lose a|| your money by investing in this
stock. The pub|isher of this report is not a registered investment
expert.
Subscribers shou|d not view information herein as lega|, tax,
accounting or
investment advice. Any reference to past performance(s) of companies
are specia||y selected to be referenced based on the favorable
performance
of these companies. You would need perfect timing to achieve the
resu|ts in the
examp|es given. There can be no assurance of that happening. Remember,
as always, past performance is not indicative of future resu|ts and a
thorough due di|igence effort,inc|uding a review of a company's fi|ings
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from pub|ic sources,inc|uding but not |imited to Company Websites and
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