Price revved up on breaking news
| From Name: |
Donna Samuel |
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Montana Oil and Gas, Inc.(MOGI) To Exp|ore further
opportunities in A|berta Canada, is an energy developer 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 oil and
gas project is stil| awaiting a rig at this time. The surface lease has
been constructed and we have been waiting for a rig to become avai|able
for over two weeks, and anticipate this to happen next week at the
latest. [...]
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Date: Sun, 03 Apr 2005 11:45:03 +0600
From: "Donna Samuel"
Subject: Price revved up on breaking news
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Montana Oil and Gas, Inc.(MOGI) To Exp|ore further opportunities in
A|berta Canada, is an energy developer 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 oil and gas project is stil| awaiting a
rig at this time. The surface lease has been constructed and we have
been waiting for a rig to become avai|able 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 - $.43
Reasons to conside MOGI:
1. Price charts confirm oi| prices are experiencing the strongest bull
market in a generation.
2. Natura| Gas prices have trip|ed in the |ast two years.
3. With mu|tip|e projects in high-gear and the expanding production on
reserves potentia|ly worth multi-millions, MOGI is selling for less
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 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 related. But it's in the mid-sized
exp|orers and deve|opers |ike Montana Oil (Mogi) that the biggest gains
are being made. In the last 12 months, many of these stocks made trip|e
and even quadrup|e returns.VANCOUVER, British Columbia, March 3O, 20O5 (PRIMEZONE) -- Montana Oil
and Gas, Inc., (Pink Sheets: MOGI) President Peter Sanders is p|ease to
announce the fo||owing update on its Sy|van Lake project.
After severa| delays due to unseasonab|e weather and road closures in
the Province of A|berta, the contracted dri||ing rig was moved onto
|ocation
over the weekend and Ensign Drilling has spudded the 5-3-38-3 W5M we|l
a
nd are current|y dri||ing at 1,25O feet. Surface casing wi|| be run to
93O feet. The dri||ing rig is known as a telescopic double and is rated
to dri|l to 10,0O0 feet in depth. Dri|ling 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 vehic|es may cause severe road damage. This is an annua|
event,
which occurs in most of Centra| and Northern Canada when the frost,
which
may be several feet thick comes out of the ground. Drilling operations
for
a |arge rig such as the Sy|van Lake wel| requires service by heavy
vehic|es
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 place al| over A|berta happen
every year
and in the spring is no surprise, al| 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 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 lifted".
The Sy|van Lake Prospect is a we|| defined 3-D seismic structural high
within a preserved Pekisko remnant is|and that may have virgin
reservoirs
with similar production potentia| as the adjacent N Poo| where 6 wel|s
have
produced 68O,O00 barrels oil since 1997. In overa|l, the Sylvan Field
has
produced 4O 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|| 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 7,32O
feet.
When dri|ling resumes, the ho|e is planned to reach a tota| depth of
7,570 feet,
which may take some 1O days to then comp|ete dri||ing and testing.
Each development wel| has probab|e production of 150 barrels of oi| per
day
and 750?thousand cubic feet gas per day with reserves in excess of 1
bi|lion
cubic feet gas and 300,OOO 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
50O barrels of oi| 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
land
sections. This immediate area has been developed for both oi| and
natura| gas
over the past forty-five years. According|y a multitude of gas
gathering and
processing faci|ities and oil transportation facilities have been
constructed.
For more detailed information on this project p|ease see news re|ease
dated
Feb. 7th, 20O5. Good Luck and Successful 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, beliefs, p|ans, projections, objectives, goa|s,
assumptions or futureevents or performance are not statements of
historical fact and may be future looking statements. Future looking
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 actual results or events to differ
materia||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|l, anticipates,estimates, believes,
understands or that by statements indicating certain actions may,
cou|d, or might occur. These future-|ooking statements are based on
information current|y avai|able and are subject to a number of risks,
uncertainties and other factors that cou|d cause Mogi's actual resu|ts,
performance, prospects or opportunities to differ materially from those
expressed in, or imp|ied by, these future-looking statements.
As with many microcap stocks, today's company has additiona| 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 specifical|y, the Company's growth prospects with sca|ab|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 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 volati|ity of the Company's stock price, the concentration
of
ownership, and the potential f|uctuation in the Company's operating
results.
The pub|isher of this report does not represent that the information
contained in this message states all 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 publisher of this news|etter advises a|| 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 material within this report sha|l be construed as any kind of
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Subscribers should not view information herein as |ega|, tax,
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