Majestic Oil & Gas, Inc Discovers Wildcat Oil Well in Northern Montana
PRNewsWire News ReleasesPublished: 11/19/07 03:47 PM ESTReleased By:
Majestic Oil & Gas, Inc
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NewsvineCommentCUT BANK, Mont., Nov. 19 /PRNewswire-FirstCall/ -- Majestic Oil & Gas, Inc (the "Company"), MJOG a United States Public Company whose securities are qualified for quotation on the Over the Counter Bulletin Board today announced that the Company successfully drilled and ran 4-1/2" production casing in the Jody Field #4-1 well located in Pondera County, Montana.
This exploration wildcat oil well was drilled in the NENENE-Section 4-T28N-R6W, Pondera County, Montana to a Total Depth of 3,545 feet. The Company made a discovery in the Madison/Sun River Dolomite and encountered 3 separate pay zones. The first pay zone was from 3446' to 3454' (8 feet) with porosity of 8% to 10%. The second pay zone was from 3456' to 3464' (8 feet) with porosity of 8% to 11%. The third and most prolific zone discovered was from 3466' to 3488' (22') with porosity of 12% to 19%. This is a total discovery of 32 feet in the Madison/Sun River Dolomite. All zones showed excellent resistivity on the array induction tool, good permeability on the micro-log and excellent oil and gas shows throughout the geologic samples. These shows included a strong petroliferous odor, uniformed yellow fluorescence and live light brown oil stains in samples with a strong flowing cut in trichloroethane.
The Company owns a 25% interest in this wildcat oil well and plans to complete the well within the next few weeks.
MAJESTIC OIL & GAS, INC
"Patrick M. Montalban"
Patrick M. Montalban, Chairman of the Board
President & Chief Executive Officer
THIS NEWS RELEASE WAS PREPARED BY MANAGEMENT.THE OTCBB DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS
RELEASESource: Majestic Oil & Gas, Inc
