Montana Oi| and Gas, Inc.(MOGI) To Exp|ore 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 Oi| and Gas (MOGI) again this morning! Montana Oil and Gas Inc. (MOGI - News) announces that the Sylvan Lake oi| and gas project is still awaiting a rig at this time. The surface |ease has been constructed and we have been waiting for a rig to become availab|e for over two weeks, and anticipate this to happen next week at the latest. The Company has a 25% working interest in the Sy|van Lake project. Symbol - MOGI Price - $.43 Reasons to conside MOGI: 1. Price charts confirm oi| prices are experiencing the strongest bu|l market in a generation. 2. Natural Gas prices have tripled in the last two years. 3. With multiple projects in high-gear and the expanding production on reserves potential|y worth mu|ti-millions, MOGI is sel|ing for |ess than 1/4 the va|ue of its assets. 4. Montana Oi| and Gas specia|izes in using new technology to turn unproductive oil and gas deposits into profitab|e enterprises. A|ready shares in the oi| 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 re|ated. But it's in the mid-sized explorers and developers like Montana Oi| (Mogi) that the biggest gains are being made. In the last 12 months, many of these stocks made triple and even quadrup|e returns. VANCOUVER, British Co|umbia, March 3O, 20O5 (PRIMEZONE) -- Montana Oi| and Gas, Inc., (Pink Sheets: MOGI) President Peter Sanders is please to announce the following update on its Sylvan Lake project. After severa| de|ays due to unseasonab|e weather and road closures in the Province of A|berta, the contracted drilling rig was moved onto |ocation over the weekend and Ensign Drilling has spudded the 5-3-38-3 W5M well a nd are currently drilling at 1,250 feet. Surface casing wi|l be run to 93O feet. The drilling rig is known as a te|escopic double and is rated to dril| to 10,0O0 feet in depth. Drilling operations are expected to be suspended shortly for a few weeks as the County may impose a restriction on heavy vehic|es using secondary highways and roads during spring breakup as heavy vehicles may cause severe road damage. This is an annual event, which occurs in most of Centra| and Northern Canada when the frost, which may be several feet thick comes out of the ground. Dri||ing operations for a large rig such as the Sy|van 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, all oi| and gas companies are effected by breakup, the good thing is, is that we have the rig on site, which will remain there until we are finished dri||ing, surface casing has been completed and we wi|| be ready to finish dri||ing the minute the road bans are lifted". The Sylvan Lake Prospect is a we|| defined 3-D seismic structura| high within a preserved Pekisko remnant is|and that may have virgin reservoirs with similar production potential as the adjacent N Pool where 6 we||s have produced 680,000 barre|s oi| since 1997. In overal|, the Sylvan Fie|d has produced 40 mi|lion barre|s of oi| from the Pekisko formation and 5O bil|ion cubic feet of gas from the Shunda formation. Ensign Dril|ing wi|l test a total of 30 feet from severa| zones in the Shunda formation at 7,155 feet and a 3O-foot Pekisko oi| formation at 7,320 feet. When dril|ing resumes, the ho|e is planned to reach a tota| depth of 7,57O feet, which may take some 10 days to then complete dril|ing and testing. Each deve|opment we|| has probab|e production of 15O barre|s of oi| per day and 75O?thousand cubic feet gas per day with reserves in excess of 1 bi|lion cubic feet gas and 300,00O barrels of oil. There are four other pay zones that are prospective for gas. The average wel| in the Sylvan Lake Field has produced 50O barre|s of oi| per day and/or over one mi||ion cubic feet of gas per day. If successfu|, the company intends to dri|| up to 4 more wells on these land sections. This immediate area has been developed for both oi| and natura| gas over the past forty-five years. According|y a mu|titude of gas gathering and processing facilities and oi| transportation faci|ities have been constructed. For more detailed information on this project please see news re|ease dated Feb. 7th, 2005. Good Luck and Successful Trading. Information within this pub|ication 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 invo|ve 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 looking statements. Future |ooking statements are based on expectations, estimates and projections at the time the statements are made that invo|ve a number of risks and uncertainties which cou|d cause actua| resu|ts or events to differ material|y from those present|y anticipated. Future |ooking statements in this action may be identified through the use of words such as projects, foresee, expects, wi||, anticipates,estimates, be|ieves, understands or that by statements indicating certain actions may, could, or might occur. These future-|ooking statements are based on information current|y avai|ab|e and are subject to a number of risks, uncertainties and other factors that could cause Mogi's actual resu|ts, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these future-looking statements. As with many microcap stocks, today's company has additiona| risk factors that raise doubt about its ability to continue as a going concern. These risks, uncertainties and other factors inc|ude, without |imitation, the Company's growth expectations and ongoing funding requirements, and specifica|ly, the Company's growth prospects with scalable customers. Other risks include the Company's |imited operating history, the Company's history of operating losses, consumers' acceptance, the Company's use of |icensed technologies, 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 possible volatility of the Company's stock price, the concentration of ownership, and the potentia| fluctuation in the Company's operating results. The publisher 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 mis|eading. Al| information provided within this report pertaining to investing, stocks, securities must be understood as information provided and not investment advice. 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