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Montello Resources Ltd

Publié le 25 novembre 2008

Provides Update on Highpoint Tennessee, Pincher Creek and Mulligan, Alberta Operations

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MONTELLO RESOURCES LTD.
P.O. Box 1757 Station M
Calgary, Alberta
T2P 2L8
Tel. 604-408-7600/(604) 649-0080
Tuesday, November 25, 2008 TSX Symbol: MEO
Montello Provides Update on Highpoint Tennessee, Pincher Creek and Mulligan, Alberta Operations

Calgary, Alberta, November 25, 2008... ... ... Montello Resources Ltd. ("Montello") (TSX V: MEO) is pleased to announce that, subsequent to the issuance by Montello, of an independent operations notice to its partners, the well (Pennine Pincher Creek 1-11-4-29 W4M) has been re-entered by Pennine with the objective of confirming the production capability of the Brown Sand formation. Upon the well being opened to flow, gas was recorded at the wellhead and oil flowed to surface from the Brown Sand formation for a continuous period of 33 hours with a total oil recovery of 327 barrels of condensate, at which time the pumpjack was activated but had to be shut down due to overheating. The pumpjack was activated the following morning without being able to pump any fluids to the surface, due to mechanical failure in Montello's opinion. The well has been shut-in and secured pending a technical review of the mechanical pumping configuration.

In Tennessee, Montello is currently onsite at the John Bowen No. 2 well, and is heading into day 8 of its completion attempt in the deep gas zone. The Company expects to perforate the zone of interest shortly. As previously announced, cased hole logs that were run by Schlumberger confirming a potential gas zone at 8,275 feet in the Rome Formation.

At Mulligan, Montello has recently completed the construction of a water pipeline, which is allowing the Company to dispose more water including 3rd party sources. This will resolve any potential voidage issues going forward as well as increase daily oil production.

As previously announced, Montello is seeking approval for a non-brokered flow-through private placement unit financing consisting of up to 1,550,000 units priced at $0.31 per unit, with proceeds of $480,500 from the offering. The proceeds of the offering will be applied towards Montello's oil and/or natural gas properties in Morgan County, Tennessee, and exploratory-completion activities on Montello's Alberta properties.

By month end Montello will have filed its annual engineering report and its audited year end financials.

ON BEHALF OF THE BOARD OF DIRECTORS

Montello Resources Ltd.
"Peter C. Brown"

Peter C. Brown, President-CEO
For further information contact Montello Resources Ltd.: Larry Myles lmyles@montello.com 1-604-408-7600 or Bill Cawker Chairman of the Board bcawker@montello.com 1-604-649-0080. All prospective and current shareholders of Montello Resources are invited to join the company's official investment forum exclusively at Pinnacle Digest: http://www.pinnacledigest.com/company/meo:ca. The forum allows for investor controlled discussion, questions and progressive feedback from other shareholders and investors. Third party reports on the company are also available at www.pinnacledigest.com. Please also go to www.sedar.com for a detailed list of all Montello's filings and to our web site www.montello.com for articles, photos, previous news releases, financials, etc.

Reader Advisory: This news release contains certain forward-looking statements, including management's operations and capital expenditures and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Corporation's control. The Corporation's actual results, performance or achievements could differ materially from those expressed in, or implied. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties that could cause actual results to differ materially. There can be no assurances that future developments affecting Montello will be those anticipated by management. Furthermore any forward-looking statements contained in this news release are made as at the date of this news release and the Corporation does not undertake any obligation to update publicly or to revise them whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. We Seek Safe Harbor.

"BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead."

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release


 

Montello Resources Ltd

CODE : MEO.V
ISIN : CA61238L1094
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Montello Res. est une société d’exploration minière d'or basée au Canada.

Montello Res. détient divers projets d'exploration au Canada.

Ses principaux projets en exploration sont BUFFALO HILLS (NICO), CHAIN LAKES (TYRELL) - MONTELLO et HINTON au Canada.

Montello Res. est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 997 125 CA$ (998 920 US$, 720 621 €).

La valeur de son action a atteint son plus haut niveau récent le 29 décembre 2000 à 0,46 CA$, et son plus bas niveau récent le 29 janvier 2010 à 0,01 CA$.

Montello Res. possède 199 425 000 actions en circulation.

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Présentations des Compagnies de Montello Resources Ltd
09/10/2007Larry Myles Reports: The Montello Resources 'Blowout Well' ...
Financements de Montello Resources Ltd
19/03/2008 Announces Morgan County Tennessee Update & Extension of War...
22/10/2007closed its previously announced private placement of 8,202,1...
Attributions d'options de Montello Resources Ltd
31/10/2007 Updates Pincher Creek Activity; Grants Incentive Stock Opti...
Nominations de Montello Resources Ltd
24/06/2009Appoints New CFO, Concludes Executive Search
09/07/2007Approves Appointment of Drilling Advisor-Manager at Montello...
Rapports Financiers de Montello Resources Ltd
20/11/2009Late Filing Of Annual Financial Results
Projets de Montello Resources Ltd
03/11/2007(Chain Lakes (tyrell) - Montello) Purchases John Bowen Land Package Complete With Mineral Rig...
Communiqués de Presse de Montello Resources Ltd
29/01/2014Director updates shareholders
12/08/2013Announces an Update on its Pincher Creek Asset
01/08/2013Announces Retraction of July 29, 2013 News Release
21/09/2012Announces an Update on its Pincher Creek Asset and Re-instat...
12/07/2012Announces an Update on its Pincher Creek Asset and New Partn...
25/05/2012Announces an Update on its Pincher Creek Asset
14/03/2012announces update on its reinstatement process and strategic ...
09/02/2012announces update to 23 December 2011 release
27/04/2011Provides Further Reinstatement Update
08/03/2011Provides Reinstatement Update
27/07/2010Corporate Update
21/01/2010President's Message
08/12/2009First Default Status Report
27/10/2009Files Lawsuit Against Pennine Petroleum and its President De...
16/09/2009Continues Asset Clean Up
05/08/2009ASC Continuous Disclosure Policies File satisfactorily close...
22/06/2009President's Message For June 17, 2009
17/06/2009Provides Operational Update
05/06/2009to be Reinstated for Trading June 8
16/02/2009Provides Updates on Operations at Pincher Creek, Alberta and...
18/12/2008Provides Updates on Highpoint, Tennessee & Pincher Creek, Al...
01/12/2008Provides Tennessee Update
25/11/2008Provides Update on Highpoint Tennessee, Pincher Creek and Mu...
20/11/2008Provides Update on Tennessee and Announces Small Financing
12/08/2008Provides Update on Tennessee and Alberta and Announces Finan...
01/08/2008on Tennessee; Management update
03/06/2008Announces Promotions and Additions to Management-Consultant ...
09/05/2008 Announces Completion Plans for the Morgan Highpoint Project
06/05/2008 Announces Potential Gas Discovery in John Bowen #2 Well, Re...
15/04/2008Spuds Morgan Highpoint # 5 Offset Test Well & Cancels Purcha...
09/04/2008 To Drill Morgan Highpoint #5 Test Well; Commence Logging of...
02/04/2008 Prepares for Morgan Highpoint # 5 Offset Test Well
01/04/2008Montello Prepares For High Impact Drilling/Re-Completion Pro...
31/03/2008Northern Alberta Update: Grouard and Mulligan; Two Successfu...
27/03/2008 Puts Morgan Highpoint # 3 "Discovery" Well On Production & ...
18/03/2008 Announces Under-balance Drillers Mobilize At Highpoint, Ten...
10/03/2008Montello Suspends Drilling Operations After Encountering Hyd...
14/02/2008 Prepares Site for Drilling John Bowen #3 Exploratory Well i...
03/01/2008 Welcomes VP of Exploration and VP of Infrastructure and B...
27/12/2007Acquires Additional Land in Tennessee; Pincher Creek 1-11 We...
17/12/2007Log/Evaluate John Bowen #2 Well In New Year & Conduct Financ...
11/12/2007 Closes Purchase of Vanguard Working Interest and Finishes D...
04/12/2007 Farms-in on Two Low-Risk Gas Exploration Wells in Northwest...
29/11/2007 Files NI 51-101
21/11/2007 Completes the Drilling and Casing of the John Bowen # 2 Tes...
15/11/2007 Reaches Total Depth & Contracts Haliburton to Log John Bowe...
06/11/2007Directionally Drilling Ahead While Under-Balanced to Targete...
02/11/2007 Acquires Additional Interest In Sarcee Project
24/10/2007 to Drill Under-Balanced Through Rome Formation to Basement
12/10/2007 Reaches Rome Formation In John Bowen # 2 Test Well Morgan C...
11/10/2007Updates John Bowen # 2 Test Well Morgan County Tennessee
13/09/2007Successfully Runs 9 5/8 Inch Intermediate Casing & Penet...
04/09/2007Begins to Set Intermediate Casing on John Bowen # 2 Test Wel...
21/08/2007Prepping to set Surface Casing; Contracts Strata Energy Serv...
15/08/2007Spuds the John Bowen #2 Well in Tennessee
09/08/2007 Brings On New Partner "Great Northern Oilsands Inc. (OTC: G...
02/08/2007and JV Partner Austin Developments Commence Drill Site Mobil...
25/07/2007and JV Partner Austin Developments Receive Drill Permit A...
24/07/2007Hires Well-Site Geologist Sloan for Morgan
20/07/2007Ramps-Up for High-Impact Drilling Program Morgan Highpoint
23/04/2007Drilling funds in place for Morgan Highpoint #1 Well Tyrkalo...
23/04/2007Receives Additional US $500,000 from JV Partner Austin; Drop...
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