Montello Achieves Commercial Oil Production in Tennessee.VANCOUVER Vancouver, city, Canada Vancouver, city (1991 pop. 471,844), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver Island and just N of the Wash. border. , British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- Montello Resources Ltd. (the "Company") (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:MEO (Medium-Earth Orbit) A communications satellite in orbit from 1,600 to 15,000 miles above the earth. It is higher than a low-earth orbit (LEO) satellite and lower than a geostationary earth orbit (GEO) satellite. ) is pleased to provide the following update on its Oil and Gas Leases located in northern Tennessee Tennessee, state, United States Tennessee (tĕn`əsē', tĕn'əsē`), state in the south-central United States. . The Company is pleased to announce that the Brooks Number 9 well is currently producing 36 barrels of oil per day. A pump jack is in place, new tank battery is installed, power line and flow lines are connected. The well is now a commercial producer. A second well, the Brooks Number 8, located on the same property, is undergoing swab testing and is also producing oil at approximately 28 barrels of oil per day. A pump jack has been installed. The company is currently completing flow lines and power lines to this well. The Brooks Number 8 well will connect to the same battery as the Brooks Number 9 well and will be soon in commercial production. Both Brooks number 8 and 9 wells are also producing natural gas. The company will test this potential once the oil production hook up is complete. A third well, the Brooks Number 10 well, also located in the same area, is also producing oil. However, due to inclement in·clem·ent adj. 1. Stormy: inclement weather. 2. Showing no clemency; unmerciful. in·clem weather, the company has been unable to complete testing of this well to date. Once access is available this testing will be finished. There are five additional wells located on the Brooks Property and the company plans to test each of them for the potential to produce oil and gas. The Company is continuing to work on its Brooks Number 5 well, the "Knox Prospect". Further to the news release dated March 15, 2005, the "Knox Prospect" was initially drilled to 1,500 feet in the late 1970's and was re-entered and drilled to its present depth of approximately 3,600 feet in the late 1980's. After testing the lower Knox formation, this past work determined that it was uneconomic for oil and gas. Montello agrees, however, after the success of the Brooks Number 8 and Number 9 wells (as mentioned above), it is now realised that economic formation containing oil and gas was recorded in Brooks Number 5 well by the earlier drilling but never tested. Given the close proximity to the producing Brooks number 8 and 9 wells the company has given high priority to testing the Brooks Number 5 well in the same productive formations. Tennessee had been receiving unseasonably wet weather and this has hindered the Companies progress in completing tie-in on the Tompkins gas property. Work in these boggy bog n. 1. a. An area having a wet, spongy, acidic substrate composed chiefly of sphagnum moss and peat in which characteristic shrubs and herbs and sometimes trees usually grow. b. conditions would have caused damage to the unsealed roads and fields in the area. In respect to the local landowners wishes, the company ceased work to prevent such damage. The area is now sufficiently dry and tie-in work has recommenced. There are 14 wells located on the Tomkins Property of which the company aims to tie-in 12 in the near-term. To view new pictures of the progress in Tennessee, please check out our web site at www.montello.com ON BEHALF OF THE BOARD OF DIRECTORS OF MONTELLO RESOURCES LTD. Patrick Power
Patrick Power was a Canadian politician and a member of the Canadian House of Commons for the riding of Halifax in Nova Scotia. , President The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Montello Resources Ltd. (TSX VENTURE:MEO) |
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