Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
track down Fish1031, he's got the scoop
new info. on the company with this link,
http://www.montello.com/s/Home.asp
anyone hear anything about this company?
http://biz.yahoo.com/ccn/080401/200804010452423001.html?.v=1
Nice, another PR, lol
it is a good company from what i read.
We hit .205 looking up . holding on for a big run end of this week with news Luck
which one you decide on and mgmt is o.k. with me.
Moderator: bay2water Assistants: NoneBoardmarks: 5
Created: 12/28/2000 2:17:17 PM
Am hopeing this Co. will make me some MONEY. It is @ 0.08 can.money .. A very good price to buy these stocks IMHO. It has a new oil well that they hope to pump 1 oil & 2 gas from the same well. as of now they have some salt water in the gas. am hoping they will get that fixed soon . they also have a Venture with Kennecutt canada Exploration. 60%. montello 40% Check thier web site @ www.montello.com A very good site.
Options: Sign up for 'Montello Resources Ltd.' (MEO) E-Mail List
this is the one i couldn't find. bay2water ya hit a home run.
this is a good company.
i see ya retired like ah me.
i have interest in GNNS but it hasn't done well.
We have a hit on # 3. Rig moved to # 4
NEWS!!!!!!!!!!
Mar 05, 2008 09:00 ET
Montello Spuds Morgan Highpoint #3 Well in Morgan County, Tennessee; Provides Alberta Update
CALGARY, ALBERTA--(Marketwire - March 5, 2008) - Montello Resources Ltd. (TSX VENTURE:MEO) ("Montello") is pleased to announce that funds are now in place to cover the costs to drill and case the Morgan Highpoint #3 Well in Morgan County, Tennessee which spud on March 4, 2008.
The Morgan Highpoint #3 Well is strategically located approximately one mile west of the John Bowen #1 & #2 Wells and one mile north-west of the Howard White #1 Well. From a geological standpoint this is significant as the Howard White #1 Well, that was drilled in 2002, flowed over 500 barrels / hour of light crude oil (12,000 barrels / day for two days) before being capped due to a "blowout." Environmental and legal issues relating to the blowout have to date precluded the re-drilling of the Howard White #1 Well. Based on the conclusions reached after conducting an in depth geological and scientific review of all available data in the area Montello along with participants, that will be announced forthwith, are targeting specific geological formations in the Morgan Highpoint #3Well.
The drill syndicate, which includes new participants, is using a more cost efficient drilling rig to drill the first of up to three potential wells that are strategically located on contiguous lands leased from a private U.S. party. Montello, as Operator, plans to run cased hole logs on the John Bowen # 2 Well immediately after the Morgan Highpoint #3 Well is open hole logged. Montello's President / CEO, Bill Cawker stated "We are very pleased to be in a position to announce that we have not only secured partners to participate in the next test well in Morgan County, Tennessee but that drilling has actually begun. Based on the fact that the John Bowen #2 Well needs to be logged through the casing, we have determined that we will be able to garner, on a cost effective basis, the most amount of information by logging and evaluating it immediately after the Morgan Highpoint # 3 Test Well has been logged. "We remain confident that Morgan County Tennessee will prove to be a lucrative county for Montello to be actively exploring for prolific high impact oil and or gas wells and thank shareholders for their continued faith in our efforts."
Montello is further pleased to announce that negotiations are proceeding with respect to the acquisition of various shallow oil and gas assets / leases in Central and Northwestern Alberta from a private Alberta oil and gas company. This acquisition is being negotiated on a 100% equity basis by issuing shares from treasury at a deemed value of $0.13 per share. Closing is subject to Montello obtaining an independent 3rd party evaluation and TSX Venture Exchange approval. Negotiations may be terminated at any time by either party.
Montello has elected not to extend approximately 5,515,429 warrants currently priced at $0.20 per share which are scheduled to expire on March 21, 2008. The Company is issuing 1 million options at $0.10 to two new executives that are subject to regulatory approval.
About Montello Resources Ltd.
Montello Resources Ltd. (TSX VENTURE:MEO), www.montello.com, is an emerging, publicly traded company listed on the TSX Venture Exchange in Canada. Montello is pursuing shallow oil and gas opportunities in Alberta and engaged in drilling high impact oil and gas exploration prospects "hunting for elephants" in the Tennessee Appalachians and in Alberta.
ON BEHALF OF THE BOARD OF DIRECTORS
William R. (Bill) Cawker, President-CEO
Might be news in the morning. Saw this on Stockhouse.
http://www.stockhouse.com/bullboards/viewmessage.asp?no=22642765&t=0&all=0&TableID=0
Cheers,
Pete
Trying to keep us from falling off this board. WE sure need some news.
Looks like most of the money can only be used in Alberta?
NEWS
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Dec. 18, 2007.
Number of shares: 467,520 flow-through common shares; 12,480 common shares
Let's see what March brings. If they actually are preping the site right now then theyshould be ready to go with the next well. The question is ,will the same partners be drilling the next well or have new people stepped up to the plate?
The fact that they drilled the current well to depth without a blowout shows some competance. My guess is they are still after more land hence the lack of progress logging the last well. In time we should get the true picture.
Cheers,
Pete
My post of /on 10/30/2000 This stock was @ ,08 . That was my first buy of ( mlorf ). SO far not much of a money maker for ME. Have to LOL or CRY Just hopeing for the best some day..............
That would be nice to know. Anyone ???
It looks like MEO has put up their share of the money but there is no mention if the partners put up their share. Correct me if I'm wrong in guessing someone is a little slow in coming to the table with the cash to allow work to continue. If that's the case is there a time line before a penalty kicks in? Does the party that's not able to come up with the cash give up a percentage of the ownership in the play?
Pete
Pete GO to the Montello Website and read DEC.17 Co. post ! ONE (1) Millon $$$$$$ U.S. forward to U.S.Morgan Highpont account. SO why do you think they need MONEY Just read the post. Before you spread glum and doom
Sounds like someone may not be able to come to the table with the money to log? Time for some communication from the company?
interesting animation.
http://geoart.com/animations/
luckypete! let hope so.
The weather has cleared so this week might be the time to bring in the equipment to do the testing.
Pete
A little overdue for some news. Wonder if management will give a call to see about an update? Meanwhile looks like almost base building here?
Cheers,
Pete
Potential for a major discovery is what attracts interest. Tripled my position with the drop in price but have to hope that between Pincher Creek and Tennessee they have enough cash flow to drill the next big well without dilution of the stock.
Cheers,
Pete
New Year and Historical High for Oil Prices Primes Montello to Grow Exponentially Via the Drill Bit
By Doug Hadfield
The year 2007 was certainly a year to be remembered by investors familiar with Montello Resources (TSX.V: MEO). The company and its JV partner Pennine Petroleum Corp. (TSX.V:PNN) have achieved success at their Pincher Creek operations in Alberta, with one new well completed and scheduled to soon become a producer.
In Tennessee, the company drilled one of that state’s deepest wells ever, totaling 9,557 feet. The company also succeeded in adding – after a year of negotiations – another 190 acres to its land holdings within the Morgan Highpoint Area in Tennessee, adjacent to the infamous Howard-White #1 well, which blew out after briefly producing at an estimated initial flow rate of over 400 barrels of light gravity crude per hour in 2002.
Add to all that, the breaking of a historical threshold – the price of oil has now, for the first time, passed the $100 ceiling. This fact can only bode well for juniors involved in oil and gas exploration. But for Montello, the news is particularly heartening, in the sense that the new oil price preps this producer for production in Alberta and potential production in Tennessee.
For Montello, led by CEO and President Bill Cawker, 2007 was a year of significant growth and change.
In August, the company entered into an agreement to participate in the Mannville recompletion of the Pennine Well at Pincher Creek, in southern Alberta. Four companies were involved in the effort. Specifically, Montello holds a 25% interest, with the remainder of the project held by Pennine (37.5%), Paramount Resources (25%), and a private company as the other JV partner. The team soon found success, hitting pay dirt in September. Initial swabbing rates were 337 barrels of condensate and 500 million cubic feet (MCF) per day of natural gas. The company expects to begin receiving revenues from this well by the end of April 2008.
The Pincher Creek field is one of the most prolific fields in Alberta and has produced more than 600 billion cubic feet (BCF) of gas and 1 million-plus barrels of associated liquids since 1947 from the Mississippian-age carbonates of the Rundle Formation. Total production from the Pincher Creek field is around 600 BCF of gas and over 1 million barrels of associated liquids. An estimated 225 BCF of gas remains to be produced from the Mississippian formations in the productive plates that have been accessed to date.
In 2007, Montello also made strides toward making a name for itself in Tennessee by refocusing its efforts on deep prospectively high-impact plays.
Hence, the company dropped all ownership of 52 shallow oil and gas wells. Key to its new strategy is its newest acquisition – 190 acres of new prospective oil concessions in close proximity to its existing property on the Morgan Highpoint prospect, on which the company has already drilled one deep test well (which has yet to be logged).
In 2008, Montello is in a much better position now to concentrate its energies on developing and hopefully monetizing its prized assets in Morgan County, including new drilling at Morgan Highpoint – which is the site of the infamous Howard-White #1 blowout.
Just prior to the Howard-White #1 Well blowout, this well produced at an estimated initial flow rate of over 400 barrels of light gravity crude per hour. The operator of that ill-fated project, Pryor Oil (a private company), also estimated that the well was capable of producing in excess of 5 million cubic feet of gas per day.
A nearby well (John Bowen #1), drilled by another private company, tested at 800 barrels of oil equivalent per day, prior to the owner’s sudden death. The well has yet to be brought online due to legal issues, according to company documents.
In July 2007, Montello’s board announced the appointment of Phil Emrich as the Drilling Advisor /Drilling Manager. The highly anticipated drilling of John Bowen #2 test well would become Emrich’s responsibility. The plan: Drill and test one of the deepest wells in the history of oil and gas in Tennessee and find the source of hydrocarbons that were present in the previously drilled prolific Howard-White and John Bowen wells.
Emrrich’s plan is almost complete. The John Bowen # 2 Well has now been drilled and cased to around 9,557 feet. Due to technical drilling difficulties relating to well bore stability the well was cased prior to running logs which is the customary practice. The well is scheduled to be logged through the casing in the coming weeks which is an essential step that needs to be conducted before Montello and its partners can ascertain whether or not the well will be completed as a successful well and placed on production.
However, Montello’s final press release for the 2007 season was the very thing many shrewd investors had been waiting for – the company announced it had secured an additional 190 acres within the Morgan Highpoint area. Those familiar with the tongue-in-cheek exploration term “closeology” will understand the significance of this: There is an enormous resource somewhere beneath Morgan Highpoint. That has been proven twice: 400 barrels per hour at Howard-White #1 and another 800 barrels per day at John Bowen #1.
Having access to an additional 190 acres of land in 2008 will allow Montello’s geoscientists to make a discriminating choice on the crucial follow up second test well, which is scheduled to be drilled in the first Quarter of 2008.
This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.
Wonder how much cash is being burned up waiting for testing to begin? Need some big numbers to support all the people on the payroll.
Cheers,
Pete
Luckypete! Yes on the markets, Here it the mid of Jan, any day how maybe we will hear about some wells. Got 5 wells to PR. Let have it lol ..FISH
Ouch ! Rough day on the markets today!
I m aa 69er agian LOL
FISH
From another board
New Year and Historical High for Oil Prices Primes Montello to Grow Exponentially Via the Drill Bit
By Doug Hadfield
Jan, 10th
The year 2007 was certainly a year to be remembered by investors familiar with Montello Resources (TSX.V: MEO). The company and its JV partner Pennine Petroleum Corp. (TSX.V:PNN) have achieved success at their Pincher Creek operations in Alberta, with one new well completed and scheduled to soon become a producer.
In Tennessee, the company drilled one of that state’s deepest wells ever, totaling 9,557 feet. The company also succeeded in adding – after a year of negotiations – another 190 acres to its land holdings within the Morgan Highpoint Area in Tennessee, adjacent to the infamous Howard-White #1 well, which blew out after briefly producing at an estimated initial flow rate of over 400 barrels of light gravity crude per hour in 2002.
Add to all that, the breaking of a historical threshold – the price of oil has now, for the first time, passed the $100 ceiling. This fact can only bode well for juniors involved in oil and gas exploration. But for Montello, the news is particularly heartening, in the sense that the new oil price preps this producer for production in Alberta and potential production in Tennessee.
For Montello, led by CEO and President Bill Cawker, 2007 was a year of significant growth and change.
In August, the company entered into an agreement to participate in the Mannville recompletion of the Pennine Well at Pincher Creek, in southern Alberta. Four companies were involved in the effort. Specifically, Montello holds a 25% interest, with the remainder of the project held by Pennine (37.5%), Paramount Resources (25%), and a private company as the other JV partner.
The team soon found success, hitting pay dirt in September. Initial swabbing rates were 337 barrels of condensate and 500 million cubic feet (MCF) per day of natural gas. The company expects to begin receiving revenues from this well by the end of April 2008.
The Pincher Creek field is one of the most prolific fields in Alberta and has produced more than 600 billion cubic feet (BCF) of gas and 1 million-plus barrels of associated liquids since 1947 from the Mississippian-age carbonates of the Rundle Formation. Total production from the Pincher Creek field is 2 MCF; an estimated 225 BCF of gas remains to be produced from the Mississippian formations in the productive plates that have been accessed to date.
In 2007, Montello also made strides toward making a name for itself in Tennessee by refocusing its efforts on deep prospectively high-impact plays.
Hence, the company dropped all ownership of 52 shallow oil and gas wells. Key to its new strategy is its newest acquisition – 190 acres of new prospective oil concessions in close proximity to its existing property on the Morgan Highpoint prospect, on which the company has already drilled one deep test well (which has yet to be logged).
In 2008, Montello is in a much better position now to concentrate its energies on developing and hopefully monetizing its prized assets in Morgan County, including drilling at Morgan Highpoint – which is the site of the infamous Howard-White #1 blowout.
Just prior to the Howard-White #1 Well blowout, this well produced at an estimated initial flow rate of over 400 barrels of light gravity crude per hour. The operator of that ill-fated project, Pryor Oil (a private company), also estimated that the well was capable of producing in excess of 5 million cubic feet of gas per day.
A nearby well (John Bowen #1), drilled by another private company, tested at 800 barrels of oil equivalent per day, prior to the owner’s sudden death. The well has yet to be brought online due to legal issues, according to company documents.
Montello cognoscenti will be aware of the company’s first acquisition and subsequent drilling efforts. In July 2007, Montello’s board announced the appointment of Phil Emrich as the Drilling Advisor /Drilling Manager. The highly anticipated drilling of John Bowen #2 test well would become Emrich’s responsibility. The plan: Drill the deepest cased well in the history of oil and gas development in this part of Tennessee and find the source of the previous Howard-White and John Bowen wells.
What some see as a disappointment in that the well has yet to offer clear indications of becoming a spectacular success remains to other investors a silver lining scenario: The well, drilled to 9,557 feet, remains to be completed and logged , an essential factor in determining any oil and/or gas contents of the well bore and surrounding earth.
The well log was to be completed by Haliburton late in 2007. However, the job was postponed due to Thanksgiving scheduling issues; length of time to complete drilling and casing; technical issues with the logging equipment; and the timing of the acquisition by Park Place Energy of Great Northern Oilsands Inc.'s 5% interest in the property.
However, Montello’s final press release for the 2007 season was the very thing many shrewd investors had been waiting for – the company announced it had secured an additional 190 acres within the Morgan Highpoint area. Those familiar with the tongue-in-cheek exploration term “closeology” will understand the significance of this: There is an enormous resource somewhere beneath Morgan Highpoint. That has been proven twice: 400 barrels per hour at Howard-White #1 and another 800 barrels per day at John Bowen #1.
Having access to an additional 190 acres of land in 2008 will allow Montello’s geoscienists to make a discriminating choice on the crucial follow up second test well, scheduled to begin in the first quarter of 2008.
This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.
E
Bay2Water you mentioned MEO might still be involved in a project with Kennecutt. Were you referrring to Arctic Star and the diamond properties. I think all that's left is some shares of stock in Arctic Star. All that changed a number of years ago when there was a change in the president and CEO. The management team now appears to consist of experienced oil men who are serious about drilling for the big one. Putting this kind of property package and exploration play together was a major feat. It was only surpassed by being able to pull together a team to successfully drill a well to the basement not to mention getting the funding together. Whatever happens with the evaluation have to say I'm impressed.
Cheers,
Pete
Looking forward to this week. Hope they can start the testing phase. A lot on the line here. If they found the elephant they were expecting then there will be cause for a major celebration. If not the stock could be in the dog house until the Alberta properties are brought on line and maybe longer. Imagine testing and results could take us to the end of the month.
Cheers,
Pete
The critical thing is how porous are the zones? Hope they are able to start testing/evaluation next week.
Cheers,
Pete
Bay2water! I ve been looking at the Knox formation as the same as the Blow Out Well and the JB #1 Wells thats is MEO Well too.
With its 17 ft of play, this holds a lot of oil and gas, then you got the Copper Ridge formation with it 370 ft of play Hummmm . lets hope.
FISH
Bay2water! I think that wait is going to pay off
FISH
Holy Smokes, since 1999!?, when ya having kids, lol. I'll talk to Matt.
Contractor 10940 , You are more then WELCOME to be Moderator. I looked for a place to add you .But did not see any place to do so. SO if you know how to do it .Please do so..On any board I got going............... I guess I am In Love with MEO . been seting on it from 1999 . Don't know why.
$100 a barrel oil first time ever. Light, sweet crude for January delivery rose $4.02 to $100 a barrel on the New York Mercantile.
Oil & gas, gold and silver all up today.
Cheers,
Pete
bay2water, any chance you can update the Ibox with Montello news, info, a chart maybe, or add me as assistant moderator on this board or the MLORF board to do it there?
Till next year-best of luck!
Pete
NEWS!
Mr. William Cawker reports
MONTELLO ACQUIRES ADDITIONAL LAND IN TENNESSEE; PINCHER CREEK 1-11 WELL COMES ON PRODUCTION; FIRST WELL AT GROUARD COMPLETED AS A GAS WELL; FINANCING CANCELLED
Montello Resources Ltd. has acquired additional leases totalling 190 acres to add to its landholdings within the Morgan Highpoint area. The company is in the final stages of surveying the site for a proposed follow-up second test well to the John Bowen No. 2 well which is cased and scheduled to be logged in the new year.
The company's Pincher Creek operating JV partner, Pennine Petroleum Corp., has brought the 1-11 well on production. Condensates are currently being trucked to market and gas production is being flared pending stable rates and tie-in.
The company's operating JV partner, Northern Sun Exploration Inc., has drilled and cased both wells at Grouard, Alta. It informed the company today that the first well 1-15-76-14-W5 has been completed as a gas well with testing continuing, while the service rig will be on site tomorrow to commence completion on the second well 10-3-76-14-W5. There have been discussions with Northern Sun with regards to potentially furthering the company's joint ventures in the area.
Montello has chosen to cancel the previously announced $1.2-million non-flow-through non-brokered private placement of up to 10 million units at the price of 12 cents per unit. Each unit was to consist of one common share at 12 cents and one common share purchase warrant priced at 25 cents.
Canceled the private placement. Now that is super bullish news.
Cheers,
Pete
Like the potential of this company. Am guessing if the well comes in big (over 5000 BOE) its worth at least $80 000 per flowing BOE. Understand the well is cased and just needs to be logged/tested. Tells me they expect at least 1000 BOE since they cased the well. This one is a company maker. What I really like is that Halibuton will have results in the very near future.
Cheers,
Lucky Pete
Contractor Good one lol
lol, I dont know if they carry pics of Santa Claus off season...
Contractor! Does stockhouse have this...
Followers
|
3
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
101
|
Created
|
12/28/00
|
Type
|
Free
|
Moderators |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |