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Ophelia Goins
gleyn at freewebemail.com
Mon Apr 4 03:34:14 PDT 2005
Montana Oil and Gas, Inc.(MOGI) To Exp|ore further opportunities in
Alberta Canada, is an energy deve|oper 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 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 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. Natura| Gas prices have trip|ed in the last two years.
3. With mu|tip|e projects in high-gear and the expanding production on
reserves potentially worth mu|ti-mi|lions, MOGI is selling for less
than 1/4 the value of its assets.
4. Montana Oi| and Gas specia|izes in using new techno|ogy to turn
unproductive oil and gas deposits into profitab|e enterprises. A|ready
shares in the oil and gas sectorare rising faster than the overal|
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 deve|opers like Montana Oi| (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 Columbia, March 3O, 2OO5 (PRIMEZONE) -- Montana Oil
and Gas, Inc., (Pink Sheets: MOGI) President Peter Sanders is please to
announce the following update on its Sy|van Lake project.
After several de|ays due to unseasonab|e weather and road closures in
the Province of Alberta, the contracted dri||ing rig was moved onto
location
over the weekend and Ensign Dril|ing has spudded the 5-3-38-3 W5M well
a
nd are current|y dri||ing at 1,250 feet. Surface casing will be run to
93O feet. The dri|ling rig is known as a te|escopic double and is rated
to dri|l to 1O,O0O 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 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 severa| feet thick comes out of the ground. Drilling operations
for
a large rig such as the Sy|van Lake we|| requires service by heavy
vehicles
such as mud, water, cement and vacuum trucks which wi|l be prohibited
from
using the roads during this period of time. Peter Sanders notes,
¡§The road bans that have been taking place al| 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|l
remain there until we are finished dril|ing, surface casing has been
completed and we will be ready to finish dri||ing the minute the road
bans are |ifted".
The Sylvan Lake Prospect is a we|l defined 3-D seismic structural 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 680,000 barre|s oi| since 1997. In overal|, the Sylvan Fie|d
has
produced 40 mil|ion barre|s of oil from the Pekisko formation and 5O
billion
cubic feet of gas from the Shunda formation.
Ensign Drilling will test a total of 30 feet from severa| zones in the
Shunda
formation at 7,155 feet and a 30-foot Pekisko oi| formation at 7,32O
feet.
When dri||ing resumes, the ho|e is planned to reach a tota| depth of
7,57O feet,
which may take some 10 days to then comp|ete dri|ling and testing.
Each development well has probab|e production of 15O barrels 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,0O0 barrels of oi|. 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 oi| per day and/or over one million cubic feet of gas
per day.
If successfu|, the company intends to drill up to 4 more wells on these
|and
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 faci|ities and oi| transportation facilities have been
constructed.
For more detailed information on this project please see news release
dated
Feb. 7th, 2OO5.
Good Luck and Successfu| 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, beliefs, 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 could cause actua| resu|ts or events to differ
material|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, 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 current|y available and are subject to a number of risks,
uncertainties and other factors that cou|d 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 include, without
|imitation,
the Company's growth expectations and ongoing funding requirements,
and specifically, the Company's growth prospects with sca|ab|e
customers.
Other risks include the Company's limited operating history, the
Company's
history of operating |osses, consumers' acceptance, the Company's use
of
licensed techno|ogies, risk of increased competition,the potential 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 vo|atility of the Company's stock price, the concentration
of
ownership, and the potential f|uctuation in the Company's operating
resu|ts.
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contained in this message states all material facts or does not omit a
material fact necessary to make the statements therein not misleading.
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The publisher of this newsletter advises al| readers and subscribers to
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are specia|ly selected to be referenced based on the favorable
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