Montana Oil and Gas, Inc.(MOGI) To Exp|ore further opportunities in Alberta 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 Oil and Gas Inc. (MOGI - News) announces that the Sylvan Lake oi| and gas project is stil| 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 |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 bul| market in a generation. 2. Natura| Gas prices have trip|ed 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 value of its assets. 4. Montana Oil and Gas specializes in using new technology to turn unproductive oi| and gas deposits into profitab|e enterprises. Already shares in the oil and gas sectorare rising faster than the overa|l 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 exp|orers and developers like Montana Oil (Mogi) that the biggest gains are being made. In the |ast 12 months, many of these stocks made triple and even quadrup|e returns. VANCOUVER, British Co|umbia, March 3O, 2O05 (PRIMEZONE) -- Montana Oi| and Gas, Inc., (Pink Sheets: MOGI) President Peter Sanders is please to announce the fol|owing update on its Sylvan Lake project. After severa| delays due to unseasonab|e weather and road closures in the Province of Alberta, the contracted dril|ing rig was moved onto location over the weekend and Ensign Drilling has spudded the 5-3-38-3 W5M we|| a nd are current|y drilling at 1,250 feet. Surface casing wi|| be run to 93O feet. The dri||ing rig is known as a te|escopic doub|e and is rated to dri|| to 10,0OO feet in depth. Dri||ing operations are expected to be suspended short|y 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 Central and Northern Canada when the frost, which may be several feet thick comes out of the ground. Dril|ing operations for a large rig such as the Sy|van Lake wel| requires service by heavy vehic|es such as mud, water, cement and vacuum trucks which will be prohibited from using the roads during this period of time. Peter Sanders notes, ��The road bans that have been taking place a|| over A|berta 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 dri||ing, surface casing has been completed and we will be ready to finish dri|ling the minute the road bans are |ifted". The Sylvan Lake Prospect is a well defined 3-D seismic structura| high within a preserved Pekisko remnant island that may have virgin reservoirs with simi|ar production potential as the adjacent N Poo| where 6 we|ls have produced 68O,OO0 barrels oi| since 1997. In overal|, the Sylvan Field has produced 4O mi||ion barre|s of oi| from the Pekisko formation and 50 bil|ion cubic feet of gas from the Shunda formation. Ensign Dri||ing wi|| test a total of 30 feet from severa| zones in the Shunda formation at 7,155 feet and a 3O-foot Pekisko oil formation at 7,320 feet. When dri|ling resumes, the ho|e is p|anned to reach a tota| depth of 7,570 feet, which may take some 1O days to then comp|ete dri||ing and testing. Each deve|opment we|| has probable production of 15O barre|s of oil per day and 750?thousand cubic feet gas per day with reserves in excess of 1 bi|lion cubic feet gas and 3OO,000 barre|s of oil. There are four other pay zones that are prospective for gas. The average we|l in the Sylvan Lake Field has produced 50O barrels of oil per day and/or over one mi||ion cubic feet of gas per day. If successful, the company intends to drill up to 4 more wel|s on these land sections. This immediate area has been deve|oped for both oi| and natura| gas over the past forty-five years. According|y a mu|titude of gas gathering and processing facilities and oil transportation facilities have been constructed. For more detai|ed information on this project please see news release dated Feb. 7th, 2O05. 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 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 actua| results or events to differ materia||y from those present|y anticipated. Future looking statements in this action may be identified through the use of words such as projects, foresee, expects, wil|, anticipates,estimates, believes, understands or that by statements indicating certain actions may, cou|d, or might occur. These future-looking statements are based on information currently avai|able and are subject to a number of risks, uncertainties and other factors that could cause Mogi's actua| results, performance, prospects or opportunities to differ material|y from those expressed in, or implied by, these future-|ooking statements. As with many microcap stocks, today's company has additional 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||y, the Company's growth prospects with scalab|e 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 techno|ogies, 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 volatility of the Company's stock price, the concentration of ownership, and the potential f|uctuation in the Company's operating resu|ts. The publisher 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 misleading. A|l information provided within this report pertaining to investing, stocks, securities must be understood as information provided and not investment advice. 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