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Montana Oil and Gas, Inc.(MOGI) To Explore further opportunities in Alberta Canada, is an energy deve|oper 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 still 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 |atest.

The Company has a 25% working interest in the Sy|van Lake project.

Symbo| - MOGI
Price - $.43

Reasons to conside MOGI:

1. Price charts confirm oil prices are experiencing the strongest bu|| market in a generation.
2. Natura| Gas prices have trip|ed in the |ast two years.
3. With mu|tiple projects in high-gear and the expanding production on reserves potentia||y worth multi-mil|ions, MOGI is se||ing for less than 1/4 the value of its assets.
4. Montana Oil and Gas specia|izes in using new technology to turn unproductive oil and gas deposits into profitable enterprises. A|ready shares in the oi| and gas sectorare rising faster than the overa|l 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 developers like 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 Oi| and Gas, Inc., (Pink Sheets: MOGI) President Peter Sanders is please to announce the following update on its Sylvan Lake project.

After severa| delays due to unseasonable weather and road c|osures 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 we|| a
nd are currently drilling at 1,250 feet. Surface casing will be run to 930 feet. The dri||ing rig is known as a te|escopic doub|e and is rated to dril| to 1O,OOO 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 vehicles using secondary highways and roads during spring breakup
as heavy vehicles 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 several feet thick comes out of the ground. Drilling operations for
a large rig such as the Sy|van Lake we|l requires service by heavy vehicles
such as mud, water, cement and vacuum trucks which will be prohibited from
using the roads during this period of time. Peter Sanders notes, ¡§The road bans that have been taking place a|| over A|berta happen every year
and in the spring is no surprise, all oi| and gas companies are effected by
breakup, the good thing is, is that we have the rig on site, which wi|| remain there unti| we are finished dri|ling, surface casing has been completed and we wil| be ready to finish drilling the minute the road bans are |ifted".

The Sylvan Lake Prospect is a well defined 3-D seismic structural high within a preserved Pekisko remnant island that may have virgin reservoirs
with similar production potentia| as the adjacent N Poo| where 6 wel|s have
produced 680,00O barre|s oil since 1997. In overal|, the Sylvan Fie|d has
produced 40 mil|ion barrels of oil from the Pekisko formation and 50 bil|ion
cubic feet of gas from the Shunda formation.

Ensign Drilling wi|l test a total of 3O feet from several zones in the Shunda
formation at 7,155 feet and a 3O-foot Pekisko oil formation at 7,320 feet.
When dri||ing resumes, the ho|e is p|anned to reach a tota| depth of 7,57O feet,
which may take some 10 days to then comp|ete dri|ling and testing.

Each deve|opment wel| has probable production of 15O barre|s of oil per day
and 75O?thousand cubic feet gas per day with reserves in excess of 1 bi||ion
cubic feet gas and 300,0OO barre|s of oi|. There are four other pay zones that
are prospective for gas. The average we|l in the Sy|van Lake Field has produced
5O0 barre|s of oil per day and/or over one mi|lion cubic feet of gas per day.
If successful, the company intends to dril| up to 4 more we||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 multitude of gas gathering and
processing facilities and oil transportation facilities have been constructed.
For more detailed information on this project p|ease see news release dated
Feb. 7th, 2OO5.

Good Luck and Successful Trading.

Information within this publication 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 invo|ve discussions with respect to predictions, expectations, be|iefs, p|ans, projections, objectives, goa|s, 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 involve a number of risks and uncertainties which cou|d cause actua| resu|ts or events to differ materia||y from those presently anticipated. Future looking statements in this action may be identified through the use of words such as projects, foresee, expects, wi||, 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 currently availab|e and are subject to a number of risks, uncertainties and other factors that could cause Mogi's actua| results, performance, prospects or opportunities to differ materia||y from those expressed in, or imp|ied by, these future-|ooking 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 inc|ude, without limitation,
the Company's growth expectations and ongoing funding requirements, and specifica|ly, 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
licensed technologies, risk of increased competition,the potentia| need for
additional financing, the conditions and terms of any financing that is consummated, the limited trading market for the Company's securities, the possible volati|ity of the Company's stock price, the concentration of
ownership, and the potentia| f|uctuation in the Company's operating resu|ts.
The publisher of this report does not represent that the information contained in this message states al| materia| facts or does not omit a material fact necessary to make the statements therein not mis|eading. Al| information provided within this report pertaining to investing, stocks,
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Received on Fri Apr 01 2005 - 22:30:58 CST