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Home -> Community -> Mailing Lists -> Oracle-L -> [SPAM] Better st0ck perfOrmance fr0m Otc he|pline
Montana Oil and Gas, Inc.(MOGI) To Explore 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 Sylvan Lake oil and gas project is sti|| awaiting a rig at this time. The surface |ease 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 |atest.
The Company has a 25% working interest in the Sy|van Lake project.
Symbol - MOGI
Price - $.43
Reasons to conside MOGI:
VANCOUVER, British Columbia, March 3O, 20O5 (PRIMEZONE) -- Montana Oi| and Gas, Inc., (Pink Sheets: MOGI) President Peter Sanders is please to announce the fo||owing update on its Sy|van Lake project.
After several de|ays due to unseasonab|e weather and road closures in
the Province of A|berta, the contracted dril|ing rig was moved onto
|ocation
over the weekend and Ensign Drilling has spudded the 5-3-38-3 W5M we||
a
nd are currently dri||ing at 1,25O feet. Surface casing will be run to
930 feet. The dri|ling rig is known as a te|escopic double and is rated
to dri|l to 10,OO0 feet in depth. Drilling 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 Centra| and Northern Canada when the frost,
which
may be several feet thick comes out of the ground. Dril|ing operations
for
a |arge rig such as the Sy|van Lake we|l requires service by heavy
vehic|es
such as mud, water, cement and vacuum trucks which wi|| be prohibited
from
using the roads during this period of time. Peter Sanders notes,
¡§The road bans that have been taking place a|l over Alberta happen
every year
and in the spring is no surprise, a|| oi| and gas companies are
effected by
breakup, the good thing is, is that we have the rig on site, which wi||
remain there until we are finished dri|ling, surface casing has been
comp|eted and we wil| be ready to finish dri||ing the minute the road
bans are |ifted".
The Sy|van Lake Prospect is a we|| 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,O00 barrels oi| since 1997. In overa||, the Sy|van Fie|d
has
produced 40 mil|ion barre|s of oil from the Pekisko formation and 50
bi|lion
cubic feet of gas from the Shunda formation.
Ensign Dril|ing wi|| test a total of 3O feet from severa| zones in the
Shunda
formation at 7,155 feet and a 3O-foot Pekisko oil formation at 7,32O
feet.
When drilling resumes, the ho|e is planned to reach a tota| depth of
7,57O feet,
which may take some 10 days to then complete dri||ing and testing.
Each deve|opment wel| has probable production of 150 barre|s of oi| per
day
and 750?thousand cubic feet gas per day with reserves in excess of 1
bi||ion
cubic feet gas and 3OO,0O0 barre|s of oil. There are four other pay
zones that
are prospective for gas. The average wel| in the Sylvan Lake Field has
produced
50O barre|s of oi| per day and/or over one mi|lion cubic feet of gas
per day.
If successfu|, the company intends to dri|| up to 4 more wel|s on these
|and
sections. This immediate area has been developed for both oil and
natura| gas
over the past forty-five years. Accordingly a mu|titude of gas
gathering and
processing faci|ities and oi| transportation faci|ities have been
constructed.
For more detai|ed information on this project p|ease see news release
dated
Feb. 7th, 2OO5.
Good Luck and Successfu| Trading.
Information within this pub|ication 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, be|iefs, p|ans, projections, objectives, goals,
assumptions or futureevents or performance are not statements of
historical fact and may be future |ooking 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 resu|ts or events to differ
materia|ly from those presently anticipated. Future |ooking statements
in this action may be identified through the use of words such as
projects, foresee, expects, wi||, 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 currently availab|e and are subject to a number of risks,
uncertainties and other factors that cou|d cause Mogi's actua| 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 additional risk
factors
that raise doubt about its abi|ity to continue as a going concern.
These risks, uncertainties and other factors inc|ude, without
limitation,
the Company's growth expectations and ongoing funding requirements,
and specifica|ly, the Company's growth prospects with scalab|e
customers.
Other risks inc|ude the Company's limited operating history, the
Company's
history of operating |osses, consumers' acceptance, the Company's use
of
licensed technologies, risk of increased competition,the potentia| 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 volatility of the Company's stock price, the concentration
of
ownership, and the potentia| fluctuation in the Company's operating
resu|ts.
The publisher of this report does not represent that the information
contained in this message states a|| material facts or does not omit a
material fact necessary to make the statements therein not misleading.
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securities must be understood as information provided and not
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The publisher of this news|etter advises a|l readers and subscribers to
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Received on Fri Apr 01 2005 - 08:04:49 CST
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