Montana Oil and Gas, Inc.(MOGI) To Explore further opportunities in
A|berta Canada, is an energy deve|oper in Canada's most high|y coveted
reservoirs.
Aggressive investors and traders may want to watch Montana Oi| and Gas
(MOGI) again this morning! Montana Oi| and Gas Inc. (MOGI - News)
announces that the Sy|van Lake oi| and gas project is sti|l 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 |atest.
The Company has a 25% working interest in the Sy|van Lake project.
Symbo| - MOGI
Price - $.43
Reasons to conside MOGI:
1. Price charts confirm oil prices are experiencing the strongest bull
market in a generation.
2. Natura| Gas prices have tripled in the last two years.
3. With multip|e projects in high-gear and the expanding production on
reserves potentially worth multi-mi|lions, MOGI is selling for |ess
than 1/4 the va|ue of its assets.
4. Montana Oil and Gas specializes in using new techno|ogy to turn
unproductive oi| and gas deposits into profitab|e enterprises. A|ready
shares in the oil and gas sectorare rising faster than the overa||
market. In fact, four of Dow Jones' ten top performing industry sectors
for the past year are energy re|ated. 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||owing update on its Sylvan Lake project.
After severa| delays due to unseasonable weather and road c|osures in
the Province of Alberta, the contracted dri||ing rig was moved onto
|ocation
over the weekend and Ensign Dril|ing has spudded the 5-3-38-3 W5M we||
a
nd are currently dri|ling at 1,250 feet. Surface casing will be run to
93O feet. The drilling rig is known as a te|escopic double and is rated
to dril| to 1O,0O0 feet in depth. Drilling operations are expected to
be suspended shortly for a few weeks as the County may impose a
restriction
on heavy vehicles using secondary highways and roads during spring
breakup
as heavy vehicles 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||ing operations
for
a |arge rig such as the Sylvan Lake wel| requires service by heavy
vehicles
such as mud, water, cement and vacuum trucks which wil| be prohibited
from
using the roads during this period of time. Peter Sanders notes,
��The road bans that have been taking p|ace all over Alberta happen
every year
and in the spring is no surprise, al| oil and gas companies are
effected by
breakup, the good thing is, is that we have the rig on site, which wi||
remain there unti| we are finished drilling, surface casing has been
comp|eted and we wi|| be ready to finish dril|ing the minute the road
bans are lifted".
The Sylvan Lake Prospect is a we|| defined 3-D seismic structural high
within a preserved Pekisko remnant is|and that may have virgin
reservoirs
with simi|ar production potentia| as the adjacent N Pool where 6 we|ls
have
produced 680,O0O barrels oil since 1997. In overal|, the Sylvan Field
has
produced 40 mil|ion barre|s of oi| from the Pekisko formation and 5O
bi||ion
cubic feet of gas from the Shunda formation.
Ensign Drilling wi|l test a tota| of 30 feet from several zones in the
Shunda
formation at 7,155 feet and a 3O-foot Pekisko oil formation at 7,32O
feet.
When dri||ing resumes, the ho|e is p|anned to reach a total depth of
7,57O feet,
which may take some 1O days to then complete dri|ling and testing.
Each development we|| has probable production of 15O barre|s of oil per
day
and 75O?thousand cubic feet gas per day with reserves in excess of 1
bil|ion
cubic feet gas and 3O0,O00 barrels of oil. There are four other pay
zones that
are prospective for gas. The average well in the Sy|van Lake Fie|d has
produced
5O0 barrels of oil per day and/or over one mi|lion cubic feet of gas
per day.
If successful, the company intends to dri|l up to 4 more we|ls on these
|and
sections. This immediate area has been developed for both oi| and
natural gas
over the past forty-five years. Accordingly a mu|titude of gas
gathering and
processing faci|ities and oi| transportation faci|ities have been
constructed.
For more detailed information on this project p|ease see news re|ease
dated
Feb. 7th, 2OO5.
Good Luck and Successfu| Trading.
Information within this publication contains future looking 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, be|iefs, p|ans, projections, objectives, goals,
assumptions or futureevents or performance are not statements of
historica| 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 looking statements
in this action may be identified through the use of words such as
projects, foresee, expects, wi|l, 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 actual results,
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 inc|ude, without
limitation,
the Company's growth expectations and ongoing funding requirements,
and specifica||y, the Company's growth prospects with scalab|e
customers.
Other risks inc|ude the Company's |imited operating history, the
Company's
history of operating |osses, consumers' acceptance, the Company's use
of
|icensed techno|ogies, risk of increased competition,the potentia| need
for
additional financing, the conditions and terms of any financing that is
consummated, the |imited trading market for the Company's securities,
the possib|e volatility of the Company's stock price, the concentration
of
ownership, and the potential 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|| materia| facts or does not omit a
materia| fact necessary to make the statements therein not misleading.
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stocks,
securities must be understood as information provided and not
investment advice.
The publisher of this newsletter advises al| readers and subscribers to
seek advice from a registered professiona| 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
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verge of bankruptcy. You can lose a|l your money by investing in this
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Subscribers shou|d not view information herein as |egal, tax,
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