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Does stockhouse have this???
http://biz.yahoo.com/prnews/071220/to216.html?.v=59
LOOKS like Stockhouse board has most News so far
which board is actively following this stock, the MEO board or the MLORF board?
bay2! Yes that does, I pick up more shares last week. Been doing some math. and it looks very good to, I think that the blow out well runs all the way to JB2 well, in the PR its talk about it 17ft thick, thats a lot of oil, the copper formation is 370 ft thick, and they have not told is the fine at the bottom,but they pull back up 12 ft from bottom and case the well tell me they found oil there too. I hope. It hard waiting on the next PR.LOL good luck with this one.
Like you said they are getting more land.to lease.
FISH
Acquiring more LAND . That tells me all I need to know..... And .155 Best to buy more now And I am All IMHO.
PR NOV21..
Montello Completes the Drilling and Casing of the John Bowen # 2 Test Well
Wednesday November 21, 9:30 am ET
CALGARY, ALBERTA--(Marketwire - Nov. 21, 2007) - Montello Resources Ltd. ("Montello") (TSX VENTURE:MEO - News) announces that Montello as to 55%, Austin Developments Corp. (TSX VENTURE:AUL - News) as to 40% and Great Northern Oilsands Inc. (PINK SHEETS:GNNS - News) as to a 5% interest have cased the John Bowen # 2 Well in Morgan County, Tennessee, to 9,557 feet.
After releasing the drill rig, the well evaluation process will commence.
Furthermore, Montello et al are in the final stage of acquiring additional acreage in Morgan County.
About Montello Resources Ltd.
Montello Resources Ltd. (TSX VENTURE:MEO - News), www.montello.com, is an emerging, publicly traded company listed on the TSX Venture Exchange in Canada. Montello is engaged in sourcing and drilling high impact oil and gas exploration wells "hunting for elephants" in both the Tennessee Appalachians as well as in Canada.
The Morgan Highpoint Project is located in a part of the State of Tennessee where only a limited number of deep tests have been drilled. Montello is also active in the Pincher Creek area in Alberta where Montello recently participated as to a 25% interest in a successful recompletion of the Brown Sand and the Cadomin/Kootenay sections in the 1-11-4-29W4 well location.
The Pincher Creek Field has been one of the most prolific fields in Alberta having produced some 600 BCF of gas and over 1 million barrels of associated liquids.
ON BEHALF OF THE BOARD OF DIRECTORS
William R. (Bill) Cawker, President-CEO
Visit www.montello.com for ongoing updates & have your name included on our mailing list.
Reader Advisory: This news release contains certain forward-looking statements, including management's operations and capital expenditures and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Corporation's control. The Corporation's actual results, performance or achievements could differ materially from those expressed in, or implied. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties that could cause actual results to differ materially. There can be no assurances that future developments affecting Montello will be those anticipated by management. Furthermore any forward-looking statements contained in this news release are made as at the date of this news release and the Corporation does not undertake any obligation to update publicly or to revise them whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. We Seek Safe Harbor.
"BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead."
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
FISH
My feelings with regards to the Bowen well is that we have something "BIG" and they brought Halliburton in to make sure that the press release does not look like a pump.
jockee
under what symbol can I buy shares for montello?. I am in USA and have a scottrade account
Jimstr
The well is at the 9,580 ft.mark . Halliburton will log the well. (reservoir trsting. anlysis )Sure hope this is IT !
Nice !!
jockee
WOW Check out the NEWS...
Thire are some real good post on MEO and oil drilling over on Stockhouse board. Luck to all .I think this week will till the story.one way or the other............imha
Come on MEO
I sent Mr. Cawker an e-mail yesterday and he answered it ?
Imagine that
Jockee
Looking better ever day Slow up tic . but't thats better then down!picked up my first meo in 1999.and just set. went 3 years without news one time. Power did not have much to say . He was just on hold. lol. But with these new people runing things now I have lotts of HOPELuckto all longs..............
Gas Discovery in Alberta Drives Montello toward 12-Month High
By Myles Kirk
October 15, 2007
With oil prices over $80 per barrel, storm activity in the Gulf of Mexico and a cold winter predicted ahead elsewhere, not to mention worldwide demand for crude oil poised to rise again during the fourth quarter of 2007, now is a great time to be an oil and gas junior. One company taking full advantage of the sector’s upswing with successes of their own is Montello Resources (TSX-V: MEO). This emerging oil and gas company is engaged in drilling and exploration activities on their properties in Canada and the United States – with potential for blue sky payloads in both zones, particularly in Tennessee. Recent successes have garnered Montello a little increased investor attention in the past few weeks, with positive re-completion in Alberta and drilling approaching depth in Tennessee.
The company has a broad investor base, with approximately 150 million shares outstanding, and with new investors piling on, current trading volume is well up over one million shares a day. This increased volume is not surprising, considering that share prices in Montello have gained over 25% in the last month, not to mention the fact that Montello has now surpassed its 12-month high. Last Friday, more than 19 million shares MEO shares changed hands. On that day, the company was the leading volume trader on the TSX Venture exchange. On Monday, Montello was still trading exceptionally high at over 10 million shares.
Some of this success can be attributed to Montello recently announcing (October 4th 2007) positive re-completion results for its jointly owned Pincher Creek project – Montello owns a 25% interest with Paramount Resources holding 25%, a private company owning 12.5%, and the remaining 37.5% being retained by the operator, Pennine Petroleum Corp (TSX-V:PNN). The project, which covers over 4,800 acres, is located approximately 175 kilometres south of Calgary, in the prolific Pincher Creek Field. Since 1947, the field has produced approximately one million bbls of oil and 600 BCF (billion cubic feet) of gas, with estimates of over 220 BCF of gas still remaining to be produced. The region itself, which includes such fields as: Lookout Butte, Turner Valley, and Jumping Pound, have produced more than one trillion cubic feet gas and over 100 million bbls of associated liquids.
Montello’s JV partner Pennine recently completed (September 27th 2007) two 60-tonne fracture simulations on the Brown Sand and Cadomin/Kootenay section of the Pincher Creek project, with results uncovering two condensate zones. Both tested between 40 and 46 degrees, plus associated gas, with initial extended flow test results of over 330 boepd where none were pumping before.
The Brown Sand zone yielded an average production of 140 barrels of fluid a day with an initial water cut of 60% for a net 56 boepd and is expected to increase as frac fluid further drains. Montello is planning further exploration in the Brown Sand zone to assess feasibility.
Preliminary swab and flow results for the Cadomin/ Kootenay formation were more promising, having returned an average of 225 barrels of fluid a day with no water cut, and as much as 500 mcf of gas per day which can potentially translate to an additional equivalent of over 70 boepd.
Pennine has announced that they intend to install pumping equipment and the required production facilities to test the Cadomin/ Kootenay zone, and following positive results, may submit a Commingling Application to the Alberta Energy Utility Board, in order to take full advantage of the well. An existing pipe line is accessible to transport the gas, with plans for liquids to be taken out by truck to a processing facility. Pennine plans to announce the stabilized liquid and gas production rates following stabilized production.
With the success of recent drilling activities in Alberta, Montello and Pennine plan to follow sand development across the Pincher Creek structure and access hydrocarbon-baring sand via existing well-bores.
Montello is also involved in exploration and drilling activities (with JV partners Great Northern Oil Sands Inc. and Austin Developments Corp.) on its Morgan Highpoint project, located in the Tennessee Appalachians. The project is situated in a precarious but prolific region, near the spot where in 2002 Pryor Oil suffered a massive blow-out on its Howard-White #1 well when its drill penetrated an area containing highly pressurized oil. Incredibly, hydrocarbon fluids spewed up and out of the ground at a rate of 12,000 bbls a day and caught fire. The government stepped in and halted work on the project – permanently.
On its neighbouring property, Montello is using advanced techniques to literally “dig deep”, in an attempt to find the source of the Pryor Oil blow out or similar pockets. Montello recently announced that drilling at its John Bowen # 2 well had passed 7,780 feet in the Rogersville Formation and entered the Rome formation at 7,850. The location of the monster payload that caused the blow-out at the nearby Howard-White #1 remains illusive, but a possibility as the company continues toward basement, which is a first for the area – and is believed to be between 8,500 and 9,500 feet deep.
Resourcex Investor asked Marc Davis, a director for Montello, if he was happy with the rate of progress for the Tennessee project, and why no one else had ever tried or been able to drill this deep in this area before.
“It has been tough going, you know. This is a difficult environment to work; the rock is very dense. At the same time, we’ve seen very encouraging results and believe ourselves to be a few days away from hitting basement.”
Davis continued, “As for how we have been able to drill deeper than anyone before in this part of Tennessee, it has everything to do with money. Other companies in Tennessee simply have not had the opportunity to go that deep. But we think we could be close to a sizable pay off here.”
The cost of the well, initially estimated at $3 million US, (Montello paid 10% of this) has escalated to US $5 million, to date. Early in October, the company announced, “A Supplementary Authorization For Expenditure ("AFE") of USD $1.7 million has been issued to the partners based on their earned interests in the Test Well being Montello as to 55%, Austin as to 40% and Great Northern as to 5%. All partners have paid their proportionate share of the cash call associated with the Supplementary AFE.”
When asked which property he thinks is most important to Montello at the moment, Davis replied, “Tennessee as it has the greatest potential, but Pincher Creek [in Alberta] is money in the bag.”
With the recent activity at both their Tennessee and Alberta projects, Montello seems to be garnering more investor interest than ever before. On October 12, volume trading surged past 13 million shares, pushing the stock price past $0.20 for the first time in 12 months. And the volume has continued to be very heavy. Whether this activity is due to speculation of success in Tennessee or Alberta (or both) is hard to say. But the excitement in MEO’s stock charts is palpable.
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.
I think the drop is due to the private placement announced today for needed money
We are doing the YO-YO again. They are working the short. Guess there is a lot of money to be made shorting stock I don't understand it at all.
Montello is on the run to day 0.23 knocking on 7M. Better jump in nowStates MLORF ca. MEO
A STOP SALE ON MONTELLO @ 9:51 On Co. Web Site @ 10:15 10/4/07 FOR NEWS.... Sure hope its GOOD. ( Montello.com )
sorry SAYis missing
What's up with this price. , with the movement yesterday 15 &16 cents is too low , same price as the pass months or is it years. been seting on this from 1999 Are they playing a game with the price of this stock ? The co Puts out a pr But they not a thing! whats with that?
Why NO News. @ 25 ft per hour They ought to be at the bottom The stock price is still to low for whats going on .
Even More on Montello
Oil Drilling Expertise Fashioned in Alberta Translates to Hard-won Acceptance in Tennessee
John Hurst, ResourcexInvestor.com
September 26, 2007
Since the turn of the 20th century, the green hills of Tennessee have largely remained a patchwork of small, undisturbed private land holdings. Consequently, any oil exploration of note has been done by family businesses and small to intermediate oil and gas companies, while Big Oil has largely passed the Appalachians by for larger, easier pickings in Texas, Oklahoma, Kansas, Louisiana, and California.
Besides not having to deal with so many small landowners, amassing large land packages was a motivator for looking elsewhere in the early years of US oil exploration. More often, according to sources like the US Geological Survey, it was the technical nature of finding oil in the Appalachians.
Montello Resources Ltd. (TSX.V:MEO) is one of only a handful of oil & gas companies to commence a multi-million dollar oil and gas exploration program in the technically challenging Appalachians Mountains and Foothills. The upstart company from Calgary, Alberta, recently won over government approval besides local resident support to earn a shot at re-drilling two of the most exciting oil prospects that the State of Tennessee has seen in decades. Montello is undaunted by the prospect of being one of the few companies to drill far deeper than most would contemplate in this under-developed but emerging oil & gas state.
Bill Cawker, who heads Montello, rightly echoes country comedienne Minnie Pearl: “We’re just so proud to be here,” he says, “because the advice, experience, smart field savvy, overall execution and technical expertise of our Alberta professionals goes such a long way here.”
“Everyone we work with says, “You have such a professional well site! It’s amazing that you are a little company from Calgary. Anyone coming here would think this is run by Conoco, Phillips or Shell, not a small Canadian company like yourselves.”
Cawker says he believes that if Montello had not posted photographs of its well site on the company’s website, some people might not believe the progress they’ve made. Montello has chiseled a well site 250 feet by 250 feet by some 30 to 40 feet deep out of the rock.
“This is the type of project normally tackled by a company much, much bigger than ours, so we come by the upstart or underdog tag honestly here. We like proving ourselves and relish the fact that we are showing up all the naysayers to date.”
Montello’s drill site is situated at the heart of a scenic farming region that offers few discernable clues as to the potentially prolific oil reserves that are believed to exist completely untapped thousands of feet below Morgan County’s lush green pastures. Hence, the State of Tennessee Department of Environment and Conservation, Division of Geology, Oil and Gas Program, has officials monitor Montello’s work, closely and constantly. Cawker says Montello welcomes the assistance of top flight geologists from the state while drilling the John Bowen #2 Well.
A drill permit application on the Morgan Highpoint Project #1 well (officially known as the John Bowen #2 Well) was granted by the Department of Environment and Conservation, in July. Construction of the well site was completed to the satisfaction of the Department and its oil and gas inspector walked the site and presented a hard copy of the approved Drill Permit in person on Monday, July 23.
Montello and its joint venture partners are drilling on the property, 164 acres that adjoin the Howard family farm property near the community of High Point in rural north-central Tennessee, one hour and 40 minutes drive north of Knoxville. The drill location is a mile from the site of Pryor Oil’s Howard White #1 well – the original name of an over-pressurized gusher that came to be known as “the Blowout Well.” The oil released from the well was a light crude oil (38.1 API) with low to medium viscosity. It flowed at up to 750 barrels per hour, acccording to the well’s operator. But the subsequent blow-out caused a fire and a minor oil spill that essentially put the operator out of business.
The well has languished in a legal limbo ever since.
However, a nearby well named the John Bowen #1 Well (originally called the TexFlora well) also struck pay-dirt of up to 800 bpd in November 2003, but encountered problems of an entirely different nature and entirely unrelated to the well’s potential for commercialization: After the well was shut-in during the fall of 2003, owner Jerry Walsack took a Thanksgiving vacation at his home in Florida. While there, he died unexpectedly and as a result the John Bowen #1 was never put into production.
Now it’s Montello’s turn to tap into Morgan County’s previously elusive oil reserves. And this plucky junior is no stranger to major challenges and high stakes rolls of the dice, as recently appointed company president, Bill Cawker, is keen to point out.
“Montello has been around just about forever,” he says. “In 20 to 25 years the company has gone through three or four incarnations, with at least three different management groups doing mineral exploration, such as diamonds in North Alberta, shallow oil and gas, and so on.”
The current 2007 drilling programs in Tennessee and Pincher Creek, Alberta could be the company’s elusive ticket to the next level. Judging from the demonstrated oil and gas structures that caused the Howard White #1 blowout, John Bowen #2 has the potential to provide major shareholder growth.
The company and its management team have certainly risen to the occasion for their shareholders as they’ve devoted considerable time and energy, as well as big dollars to ensure that the company is marshalling the best technological know-how, the best equipment and the best consultants in the business to get the desired results from this high-impact drill program.
Contact Info:
Montello Resources Ltd (TSX Venture Exchange Symbol: MEO)
P.O. Box 1757 Station M
Calgary, AB T2P 2L8
(1-866-379-3960) / 604-408-7600/ 604-649-0080
www.montello.com / lmyles@montello.com/ bcawker@montello.com
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.
The author and ResourcexInvestor.com are not shareholders in the companies herein mentioned, and the author, as an employee of Resourcex Publishing Corp is expressly prohibited for owning any securities about which they may write for a period of 30 days prior to and 30 days after initial publication of the article in which the securities of any company are mentioned.
More on Montello: The results from John Bowen #2 are due any day... !
Montello (TSXV: MEO) Progresses toward Depth at Massive Formation in Tennessee
By Doug Hadfield
Resourcex Investor
Sept. 18, 2007
As a director of Montello Resources (TSXV: MEO), a financial journalist and seasoned stock speculator, Marc Davis doesn’t get particularly caught up in the excitement of most oil & gas drill projects any more. But there are rare exceptions. And that’s why he agreed to become a director of the feisty oil & gas upstart, Montello Resources. He views it as a company that is drilling an oil and gas formation with the potential to blow Tennessee’s oil and gas industry wide open – literally. I spoke with Davis on the phone briefly and he explained a few of the salient details on the ground at Montello’s John Bowen #2 Test Well.
“We're drilling right now to find the hydrocarbon source of the most over-pressured oil county in all of Tennessee. In layman’s terms, there’s something big down there that was responsible for a gusher that spewed so much oil that the rig was apparently lifted right off the ground and the well had to be plugged for safety reasons,” Marc said, referring to the Howard-White #1 Well, which Pryor Oil drilled in 2002.
According to numerous 3rd party reports provided at www.montello.com, the Howard-White #1 could have been the largest well in recent Eastern US history – had it not blown out under its own unpredictably massive pressure and caught fire. The result was an ugly environmental accident that led the US Government and the Environmental Protection Agency (EPA) to halt the project indefinitely. That is, until Montello’s spud on August 15th, 2007. Pryor Oil essentially had the rights to Howard-White stripped from it; legal and cleanup fees sounded the company’s death knell. Read through www.pryoroil.com for the full picture.
Since then, little follow-up exploration has been reported in the area of the Howard-White #1. Records show that when Pryor’s drilling hit oil, the well began gushing light gravity crude oil at up to 750 barrels per hour, or 12,000 barrels of oil per day, which at today’s oil prices could generate close to $1 million in revenue per day. In spite of this, the oil and gas formation underlying the Howard-White #1 well remains untapped and tied up in a legal battle that has no end in sight.
According to Pryor Oil, the Howard-White #1 could have produced in excess of 5 million cubic feet of gas per day. (Both oil & gas co-exist in this part of Tennessee). Moreover, the same zone that caused the blow-out at the Howard-White #1 Well was encountered in the John Bowen # 1 Well – located 250 feet away from Montello's John Bowen # 2 Well.
According to a recent article posted by Davis on his electronic financial newsletter, www.smalllcapmedia.com, the John Bowen #1 remains significant to the overall picture in the area. It apparently flow tested at up to 800 barrels of oil per day prior to being cased and shut-in ahead of a production decision that never came, due to legal issues relating to the untimely death of the well's operator.”
Davis points out that Montello is not just after the rich shallow pocket of oil and gas that Pryor discovered, but also the source itself. That’s the big payoff. As such, Davis says, the company is not overly concerned that it has not yet hit the same shallow high pressure interval that Pryor hit back in 2002.
“I’m not in a position to say whether or not we’ve hit anything substantial yet, but we’re more than satisfied with our progress having drilled to a depth over 4000 feet to date”. He also told me: “We’re aware that there is concern that we’ve drilled past 2,400 feet and haven’t reported significant news yet but investors need to understand that the geology is very complex in this area and that what we are really after is the source of what caused the Howard-White #1 well to become over pressured at 2,400 feet.
To put the location of Montello’s John Bowen #2 Test Well into context, if you were to jump in your truck and drive from John Bowen #1 directly to Howard-White #1, you would be there in about a minute or two. It is so close geologically that the company, pundits, and many investors believe that Montello can hit the same pocket as Pryor Oil.
Montello and its 45% joint venture partners Austin Developments Corp. (TSXV: AUL) and Great Northern Oil Sands Inc. (OTC: GNNS:PK) have now progressed approximately 4,380 feet of the way down the planned maximum 9,000 foot well. The present well is the first of up to three or four that Montello the Operator, feels should be drilled to evaluate the potential in the area.
“We believe that one or more really big pay zones potentially exist at much deeper depths than we have penetrated so far,” Davis continued. “The fact that there was oil under such high pressure at 2,400 feet suggests that it migrated from a deeper formation, from the originating source if you will, and we're going after it.”
Davis anticipates another three weeks of drilling before Montello has a clear picture of the contents of John-Bowen #2. “Really the proof is in the pudding, which is illustrated by the mere existence of the blow out well, and also the John Bowen #1, which was never completed. There could be prolific oil and/or gas, but nobody has ever gone to basement. No company has gone to depth to probe where all the oil is emanating from. So we’re probing into uncharted geological territory.”
In response to concerns that company insiders have been clearing out their holdings or taking profit, Davis is dismissive. “Any selling that’s going on by company insiders is being used to prudently cash up Montello’s treasury. There’s not much of a spread on the exercise of these warrants or options. Certainly nobody’s selling them just to pocket small amounts of money. We’ve generated over $650,000 that way so far to help in the financing of acquiring further land leases, optioning of additional land, and to cover any unforeseen additional costs.”
Davis stated emphatically: “A company looks to make a discovery to benefit itself, its joint venture partners, and its shareholders not competitors waiting to pounce when it is opportunistic as land prices can be driven up to unreasonable levels. We need to try to ensure that a discovery benefits us – not the competition or unaffiliated 3rd parties.”
Montello Resources trades on the TSX Venture under the symbol MEO. The company has approximately 148,575,386 shares outstanding and a year high-low of $0.165 - $0.085. Find out more at www.montello.com
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.
Montello Resources (TSX.V:MEO) - Drilling Down The Devil’s Throat
By Eric Pratt
ResourcexInvestor.com
Montello Resources (TSX.V:MEO – www.montello.com), an oil and gas exploration firm based in Calgary, Alberta, potentially has a very big problem on its hands. It’s the kind of problem most junior explorers only wish they had.
The company is in the last leg of drilling on the John Bowen #2 test well in Tennessee, just over a mile from the site of the now notorious Pryor Oil blowout, after a drill penetrated a formation at 2,400 feet that was under an estimated 2200 pounds per square inch of pressure. The resulting explosion of condensates blew the derrick into the air, and by the time the EPA showed up to take control of the scene, the gusher had flowed at rates of up to 12,000 boe a day!
Pryor Oil was all but annihilated by the legal and cleanup costs, and for years afterwards, the Tennessee Oil and Gas Authority banned any further exploration in the region.
That was over 5 years ago, and it has taken that long for Montello president Bill Cawker to get the company’s ducks in a row to take another shot at the monster formation.
When it came to putting a property package together in Tennessee, fractured ownership and obtuse property configurations were enough to alienate all the usual American Big Oil suspects for a well with potential of the John Bowen.
The reality is that highly pressurized formations like the one under Tennessee are merely a technical challenge requiring a strategic approach to sinking a well.
Montello was delayed in spudding the John Bowen #2, originally planned for January 2007, due to the lead time required to organize specialized drilling equipment for the drilling program. The drilling contractor is Nabors Drilling USA, a subsidiary of Nabors Industries (NYSE:NBR). Nabors is the world’s largest provider of land and platform drilling contact services for exploration of oil, gas, and geothermal wells.
High-pressure reservoirs are traditionally drilled with large overbalanced margins to minimize the risk of unplanned reservoir inflow. The high pressures associated with these influxes can result in larger kick volumes, reduced reaction time and consequently, greater risk. Challenges associated with these overbalanced margins serve to increase loss of circulation risk, resulting in high-pressure kicks, differential sticking and wellbore damage, never mind environmental accidents like the one involving Pryor Oil in 2002.
Domestic supplies of hydrocarbon energy are a new priority for George Bush and the U.S. government. The upside for Montello is that should this first well result in the safe oil and gas production from a domestic source, it is likely that “Tennessee Oil and Gas” will be predisposed to accommodate Montello in its application for additional drill permits.
In the August monthly newsletter of the Tennessee Oil and Gas Association, the lead article quotes Montello’s intentions from the company’s own web site, which seems to demonstrate local support for Montello.
There are good reasons why major oil companies have steered clear of Tennessee. About 215 million years ago, under the heat and pressure of a continental collision, the rocks in northern Tennessee began to bend. When they broke — in a series of long, jagged, parallel lines — oil and gas migrated from deep in the Earth into cracks and folds in the rocks. Prospectors in Tennessee spend lifetimes tracing the patterns of ancient breakage; they call it "chasing fractures."
That makes the reservoir like the one that produced the Pryor gusher a rarity, and big oil companies don’t like to waste time on such locations. Drilling is shallow and cheap here, compared with Texas or Oklahoma, but the biggest discoveries have topped out at 1,000 barrels a day, a payoff too small to attract large companies.
''There are thousands of acres east of this that have never been drilled,'' added Alan Murrell, one of the owners of Southeastern Energy, the company that discovered an 800 boe/d well in 2004 near Pickett County.
'This has been a hot area to drill in,'' he said. ''Tennessee is finally getting the recognition it deserves. It's a little Texas, I've always thought.''
Montello, on the other hand, is drilling deep in an effort to get a broad understanding of the geophysical characteristics of the target ground. Montello will be drilling to the basement (Pre-Cambrian) to the depth of the "Granite Wash Shale” to an estimated depth of between 7000-9500 feet.
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.
The author and ResourcexInvestor.com are not shareholders in the companies herein mentioned, and the author, as an employee of Resourcex Publishing Corp is expressly prohibited for owning any securities about which they may write for a period of 30 days prior to and 30 days after initial publication of the article in which the securities of any company are mentioned.
THis looks like one of the good ones . at a price like this I got all I had the money to spend. Holding 52 K IF you like oil and gas .check this out www.montello.com
meo aka. mlorf looks like a true sleeper. If they hit this Tennessee oil well, the stock will hopefully soar
Well I am always looking for a sleeper, with slow and steady growth. I will do some DD on this one, and let you know what I find, and if I buy in. GLTY
O Well this co giveing stock options of $0.11 till 2011 Not much of a outlook for the price. WHY are thet holding the price down. when they have flowing OIL and GAS? Anyone TIA
Looks like we are now on the move 6 cents in just a few days.up that is.Been seting on this a long long time.about 7 years. And still have HIGH hopes. Hang in thire.
Still hopeing and still holding. I think this stock will be a good one .one day when they stop spending all thire time at thire other stock ADD. and give us some INFO on the oil and gas wells in TENN. With the sale of oil and gas from the producing wells .I said WELLS. THE price ought to be way higher then it IS.........!!!!
One time we went 2 years without any News. Hope that don,t happen again. No madder the news we get . the price of this stock wont stay up.
MONTELLO RESOURCES LTD. MEO .. & u.s. is MLORF They have over 50 old wells in TENN. that they are reworking . Gas & oil also a few are pumping OIL . they have hooked up to the GAS line and selling gas from 10 wells. they have taken over Moonshine resources and the land next to it, Silver Peak industries ltd. Best thing to do is go to the web site ( www. montello.com ) every thing is thire you mite want to know. they tride on the TSX. V exchange It's @ .115 can. today
hey PA, nothing changed since Jan... What is that co do??
cw
FROM THIS LINE UP OF POST .LOOKS LIKE I AM THE ONLY ONE HERE. ANYWAY WE ARE AT 0.13 CAN TODAY. and the co. is on the move (oil and gas) in tenn. and now for all the good news. go to . www.montello.com . and on the TSX Venture Exchangeand type in MEO check it out
Am still here.holding on to meo .closed on jan,1,05 @13 cents Thats better then its been doing. Anyway am 77 now . hope I get a few bucksout of this. Before I Passon to the next world.
LOOKS like I am still the only one who likes this stock,BUT Good news this week stock has gone UP from .03 now .06 to .07 The Co. has picked up 49 more oil& gas wells in TENN. They still have stock in ( ARCTIC STAR Diamond Corp,) I think they had or have some were around 1,600,000 shares But today it's down to 0.25 that is the low of all times. ANYWAY I CAN DREAM>>>>>>>>>>>
AM very unhappy with this stock. as they just droped us off a clif. NO news from the time they picked up the new leases in TENN . I guess the CEO is puting in all his time on ADD ARTIC STAR AND forGOT the GAS wells And the stock holders in Montello IMO This is not RIGHT.
Looks like I am all alone here .I can understand that. with no news from the CO .in 3 months now and stock at 4 and 5 cents in ca. and no sales in the U.S. last was 3 cents. the co. HAS to do something with the gas well in Tenn. NEWS IS WHAT WE NEED. Luck to us all
So we now go into a new year 2003.Hope we due better then in the pass. with the 3 new fields in East Tenn. and a hit of gas at Rogersville field . Am HOLDING AND HOPEING FOR SOME NEWS . None in the pass few months.
Good to see someone is posting on the thread ... Have had MEO for a long time now... Just hanging in there and hoping for something big .... (just like everybody else, I guess)
))
CK
So the well hit salt water.a few months back. that looks like a lost, BUT now the co. has two big plots of land in East Tennessee. new report of the 3D at Rogersville,Tenn. is looking real good stock is now @ 16/17 cents ca. IMHO this wii get better. My last post stock was .08 so we are UP
m OT New News from Montello, www.montello.com check it out. today 1/18/01
Looks like they drilled to deep .that were the salt water is coming from. They may drill another well beside this one . but not as deep. then they can take the gas with out water .am hoping that is what they will do . this is all IMHO still think this is a good buy
thanks Oaker2 for the dd sites. I did not have them . check out this outher site . www.nview.com
Sounds like a good company to follow.Thanks for the site.If it will help those that follow the canadian stocks,you can do you d.d. at the www.cdnx.ca ,and at www.stockscape.com ,the latter also has american stocks too.Would it help to put these on the Ibox? later
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