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MONTELLO DRILLING AHEAD ON BASEMENT TEST - Montello Resources Ltd. (TSX Venture: MEO) has run 9 5/8 inch intermediate casing on the John Bowen #2 and installed a sub-surface downhole deployment valve that can be activated to shut off the well. The deep test is located in Morgan County within 1.25 miles of the Howard-White #1 that blew out and flowed at an initial rate of over 400 barrels of light gravity crude per hour. Montello reports it hit the Knox at 3,511 feet and reported that they were drilling at a rate of 25 feet an hour. The firm announced it "appears through the analysis of drilling cuttings that as much as 17 feet of porosity has been drilled through." The firm expects the Knox to be about 2,500 feet thick and says it plans to drill to a depth of between 7,000 and 9,500 feet to hopefully discover one or more high pressured zones that were encountered in the Howard-White well.
Time to pick up a few more shares........
hopefully not by the neck..LOL
still hanging............
With this new tite hold on 3-4-5-6-For 6 months Who knows .JUST mite go that low .And that will be a very good BUY
nah, not going to happen, check out the MEO board at agoracom.com, if only Ihub had that type of info
Looks like I will be buying @ 5 cents ,SOON
Just keep hopeing. maybe one day the co. will tell us something....................
I m stell holding out for a NICKEL , at the look of things we just may get it
I AM STARTING TO BELIEVE THE SHAREHOLDERS HAVE BEEN SOLD OUT BY MANAGEMENT . IMHO
SALUTE to all the Veteran this Memorial Day
FISH
got a order in good for the day, slightly above the ask, we'll see if there are any takers
Bay2water! We need oil and gas out of the ground in Tennessee and dollars in the bank for MEO to move up. SH meeting today and when it back to work.
FISH
I live in VA. so if tenn is as much rain as we have had I can understand the slow going. the sun will dry us out soon.
Contractor! Let hope that you are right about the smiles, use one my self right about now.
FISH
Ya there are alot of factors with all that, mainly the weather has been extremely uncooperative this Spring. When things start to dry out come summer time, I suspect we'll see a turn around that will produce a few smiles here and there.
Contractor! Thats the million dollar question, very one up set over the last PR. Or the 15 barrels a day from JB #3 but the plan on drilling up to 20 wells is over looked. I do know that there a new pump jack on JB # 3 so they are thinking that its worth the money there, but pump jack can be move around. Still not got any word on the two other wells JB# 4,5. Everone also upset over the 4 to 6 weeks to get the equipment for the work on JB# 3. But we now have 1500 acres to drill in up form 445 acres, and they are tryin to get more, tells me that they are NOT giving up on finning the elephant of the high impact oil and gas pressure. They only got to put in 1 mile of gas line for the start of the selling of the Nat gas from JB# 2. So we wait.
FISH
so Fish, when is BC gonna bust out with market shattering news about all of the Tennessee happenings? You speak to him about as much as I do CB. Interesting developments with FSNR, engineers quiting and all.
If PRPL plans on $510K over the next year on its part of the High Point project, That should be about $ 30K per well, at 5% of cost. It run about $400k -$600k per well to drill and complete each well. in Tennessee. We do not know the total cost for the wells so lets go with the higher number $ 600k. That would let 17 wells to be drill there, in the next year.
MEO cost if its going to put in there 15% would be three times this. As there PR of Mar 11,2008 Or $ 90 k for very well, to get 35 % of the well.
FISH
Yup, I moderated PVX once before and NVBF a long while back
Contractor! Would that be PNEA.
FISH
No I didnt, I assisted this board, (updating the ibox) until recently. This is the only MLORF board, the other 2 are MEO. Either way there is little to discuss until the company produces some physical production numbers, much like another company we're familiar with.
Bay2water! Yes you right, it easy to use, there about 4 or 5 boards where you can post things on MEO. Contractor went and started a board for MEO. Ive not been there, this one works for me.
Hoping for a PR any day on the next drilling of a well.
FISH
I don't understand why this board don't have more posters .it is easy to work and post. maybe people just dont know how good this site is........
Bay2water! Yep not bad news but, was looking for more news on JB # 4, 5 Wells, but still we have now got 1500 acres to drill in, with well# 6 on its way.
FISH
Not verygood news BUT better then none. besides IMHO it not that bad eather. Read it slow
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7811758
Press Release Source: Park Place Energy Corp.
Park Place et al Announces Completion Plans For The Morgan Highpoint Project
Thursday May 8, 3:15 am ET
OTCBB:PRPL FRANKFURT: 3P2
CALGARY, May 8 /PRNewswire-FirstCall/ - Park Place Energy Corp. ("Park Place" or "the Corporation") is pleased to announce that the Operator of the Morgan Highpoint Project, Montello Resources Ltd. (TSX Venture Exchange symbol "MEO") has conducted an extended production test on the Morgan Highpoint # 3 Well after resolving a number of common operational start-up issues. In less than 10 full days of production the Operator has recovered in excess of 800 barrels of light sweet high gravity oil from the 6.25 inch well bore. After analyzing the logs, including the Weatherford Fracture Imaging Log that was run on the Morgan Highpoint # 5 Well and geological data recently obtained from the 5 wells recently drilled or logged, along with the extended production test on the Morgan Highpoint # 5 Well, the Operator has now confirmed the presence of an extensive fracture network which explains why the daily production rate in the Morgan Highpoint # 3 Well has sharply declined to approximately 15 barrels of oil per day which mirrors the decline rates recorded on other wells drilled to a similar depth in the southern portion of the Appalachians. After conferring with a number of service companies specializing in unique completion techniques the Operator has obtained approval from its partners including Park Place to proceed with a completion program that has been designed with the goal to exponentially increase daily production rates as well as significantly improve the ultimate recovery rates that are typically achieved from wells in the area. For competitive reasons Park Place and its partners will not be disclosing how the wells will be completed. The Operator has further advised the Corporation that logistics are now being finalized to mobilize specialized equipment from Canada and the United States to perform the contemplated completion programs which are anticipated to commence within the next four to six weeks.
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Park Place is further pleased to announce that plans are underway to finalize the surface location from which the Morgan Highpoint # 6 Well will be drilled. Park Place and its partners now have approximately 1,500 acres of land tied up. Without acquiring any additional mineral leases, if the scheduled completion programs are as successful as contemplated Park Place as to a 5% participating interest and its partners are positioned to conduct a multi-well drilling program consisting of over 20 shallow oil wells and 2 additional deep gas wells. Based on the knowledge and understanding that Park Place and its partners now have of both the shallow oil play and the deep gas play recently identified in the John Bowen # 2 Well, the Morgan Highpoint partners are now aggressively pursuing acquiring additional mineral leases and drilling/re-completion opportunities in Morgan County, Tennessee.
About Park Place
Did You Know?
AGORACOM is an exclusive provider of small cap content to AOL, Yahoo!, GlobeInvestor, and RIM
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Bay2water! Yes it hurts, but if it get thing a rolling along faster I m all for it. I know that you been in this for a long time and you hopes of a big pay long over due. But there more to this story ( when we been told, I think ) so lets let BC do all that he can, to show us the money.
FISH
+To give up 15% of 1 & 2 for that little money . and No real news. hurts................
Montello Announces Potential Gas Discovery in John Bowen #2 Well, Re-Completion Plans for John Bowen #1 Well
Tuesday May 6, 9:00 am ET
CALGARY, ALBERTA--(Marketwire - May 6, 2008) - Montello Resources Ltd. (TSX VENTURE:MEO - News; "Montello") as Operator of the Morgan Highpoint Project is pleased to announce that the analysis and interpretation work has now been finished with respect to the cased hole logs that were recently run by Schlumberger on the John Bowen # 1 and #2 Wells.
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The John Bowen # 2 logs confirm that there is a potential gas zone at 8,275 feet in the Rome formation that has approximately 17 feet of interpreted net pay. This potential gas zone has never been produced in the State of Tennessee as no wells have been cased for production to this depth in Tennessee prior to Montello et al drilling the John Bowen #2 Well. The JV Partners are pleased to finally get confirmation that the logs on the John Bowen #2 Well confirm the presence of gas which is consistent with what was seen in samples as well as what was recorded on the gas detector at the 8,275 foot level when the well was drilling. Although it is premature to say what kind of reserves there may be attributable to the John Bowen #2 Well or what production rates may be achieved, we are anticipating that there may be significant pressures and flow rates encountered based upon how deep the zone is.
Montello is preparing a completion program for its partners to approve that includes perforating the potential gas bearing zone of interest and then stimulating it, depending on the flow rates that are achieved. Preliminary discussions have been held with field personnel with respect to delivering gas from the John Bowen #2 Well into Spectra's East Tennessee pipeline system that is located approximately 1 mile away from the John Bowen #2 Well. Montello has been informed that there is significant excess capacity available and that the pipeline is part of the main gas transmission system that runs across the United States. Montello views this potential gas discovery as the opening up of another play fairway for the Company and its partners in Tennessee which would complement the recently announced oil discovery in the Morgan Highpoint #3 Well.
Completion work on the oil zone identified on the logs in the John Bowen #2 Well, which is the same zone from which the Morgan Highpoint #3 Discovery Well is currently producing from, will be addressed after the completion work is conducted on the deep potential gas bearing zone at 8,275 feet.
In addition, now that the cased hole logs that were recently run by Schlumberger on the John Bowen #1 Well have been analyzed and interpreted, the JV Partnership is reviewing potential re-completion options in the fractured interval that was identified and never previously perforated. Prior to Montello having Schlumberger run the cased hole logs on this well, there were no modern logs available to analyze as to how best to re-complete the well. Based on the interpretation of the logs that Montello now has on both of the John Bowen Wells and the Morgan Highpoint #3, #4 and #5 Wells, it is believed that the John Bowen #1 and the other wells are in close proximity to a high pressure fracture regime. The Partnership is therefore reviewing directional drilling methods to better identify the fracturing in an effort to extract higher volumes that have been previously encountered in the area.
Montello is further pleased to announce that the Company is in the process of finalizing an arrangement with Blackrock Petroleum Corp. pursuant to which Blackrock Petroleum will carry Montello for a total of $1.25 million in future costs attributable to Montello's interest in the Morgan Highpoint Project, in exchange for being assigned a 15% interest in and to the John Bowen #1 and # 2 Wells along with the outright ownership of both a 15% interest, in and to the surface rights and mineral rights underlying the 110 acres comprising the Bowen Lands as well as a 15% interest in and to the lease applicable to the 50 acres which comprise the spacing unit for the John Bowen #2 deep well-bore, hereinafter collectively referred to as the "Bowen Assets". At such point in time as closing occurs, which is contemplated to occur within 14 days, ownership in and to the Bowen Assets will be 40% Montello, 40% Austin Developments Corp., 15% Blackrock Petroleum and 5% Park Place Energy Corp.
To avoid the potential for any competitive drainage issues amongst the JV Partners going forward, Montello and Austin have further agreed to grant to Blackrock Petroleum after the oil and gas zones identified on the John Bowen #1 & #2 Well logs have been tested, a right of first refusal to acquire at fair market value, based on a complete engineering evaluation, a further 5% interest from Montello and a 10% interest from Austin in and to the Bowen Assets where the ownership in the Bowen Assets could become Montello 35%, Austin 30%, Blackrock Petroleum 30%, and Park Place Energy 5%. The JV Partners have also agreed to enter into a 10 mile Area of Mutual Interest (AMI) outside of the Bowen Assets, where the participation rights will be Montello 35%, Austin 30%, Blackrock Petroleum 30%, and Park Place 5%.
Having a mechanism in place for there to eventually be common ownership throughout the Morgan Highpoint Project will be beneficial to all parties as any potential issues relating to the timing of drilling or completing wells or allocation of costs pertaining to the various land holdings and production facilities will be minimized. Avoiding the potential for any competitive drainage issues amongst the JV Partners going forward, was paramount to this agreement being reached at the JV Partners Meeting of April 11, 2008. The JV Partners are encouraged with results achieved to date on the Morgan Highpoint Project and look forward to announcing completion plans in due course.
About Montello Resources Ltd.
Wish this would wake up. ............
Email sent.
My email is maxbids2@yahoo.com
We can all dance around the MAY POLE. IF we ever get some news of what output willbe per. day.
Which will be good for us and them
FISH
Bay2water! Its going to look good in about 2 weeks, give that fact that the logging is done and now MEO got to come up with a game plan, on production. Some of the people I talk to think that they are trying to get more land under there control. Which would be for us, and them.
FISH
We need production numbersssssss!!!!!!!!
We will reach the top soon. With oil and gas pumping at a good rate a day HAPPY DAYS are coming . IMHO
Maxbid! Email me at FISH10312001@yahoo,com
FISH
Bay2water! Yes it can be hard too understand how this is not flying to the demoon. But until we get some production number, it the same old story. NO MOVEMENT. I think that next week we will get the news we been looking for. I HOPE..
But if you look at the map that one poster put out at 10:58 pm last nite, you will see the the # 2 well and the # 4 well are about 1 1/4 to 1 1/2 miles apart east to west I think, tell me that the formation is big. I only hope that they ( the company ) is getting all the land that they can get. I think that they are selling shears to get more land under there control. On the permit for March it show that total depth to be 4950 ft. that put they looking at the copper ridge formation. ( I hope ) That formation is 370 ft thick. This is the way I m looking at it. Until the BC comes out and tell us I m dreaming BIG LOL.
FISH
As they say Time Will Tell. BUT in the neantime Iam going nuts ! We drilled 5 wells and took over 2 outher. =7 wells and the stock price gos down,
does make sense Fish
Contractor! This is one thing that can be holding back the BIG news we all would like to see.
FISH
it is a phenomenon
any chance they are quietly snatching up additional leases in the immediate area?
Montello et al Encounter Hydrocarbons In Morgan Highpoint #5 Offset Test Well
Wednesday April 23, 9:15 am ET
CALGARY, ALBERTA--(Marketwire - April 23, 2008) - Montello Resources Ltd. (TSX VENTURE:MEO - News), as Operator of the Morgan Highpoint Project, is pleased to announce that the Company has drilled and logged the Morgan Highpoint #5 Test Well to total depth. Hydrocarbons were encountered during the drilling of the well.
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Montello and its JV Partners are encouraged with the results achieved to date on the Morgan Highpoint Project and look forward to announcing completion plans in due course. Montello has engaged an energy services company and will be meeting with the partners to discuss the most efficient way to move forward on the Morgan Highpoint #4 and Morgan Highpoint #5 Wells.
The Morgan Highpoint #5 Well was drilled on a parcel of land that was recently acquired as part of the Morgan Highpoint Project and is strategically located between the Morgan Highpoint #3 Discovery Well and the Howard White #1 Well. The earned interests in the Morgan Highpoint #4 and #5 wells are Montello 35%, Austin Developments Corp. 30%, Blackrock Petroleum Corp. 30% and Park Place Energy Corp. 5%.
It is hard for me to understand WHY . good news and stock price gos down .......
Contractor Post that on the OUther board Iam sure outhers would like to know that. Thanks
Blackrock consists of 2 guys from Singapore. This is one of Singapores way to get a hold of North American oil. One of the gents is the son of Singapores prime minister, so "contributing" 80 million upfront so to speak, is locking in a guaranteed return. Nice to see a backer with deep pockets.....
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