Engaged in the development of oil, gas and precious metals. The Company is currently focused on oil and gas properties located Eastern Tennessee.
Montello Resources Ltd., http://www.montello.com
is a publicly traded company listed on the TSX Venture Exchange trading under the symbol (TSX-V MEO). Management is engaged in high impact oil and gas exploration "Hunting for Elephants" by twinning/offsetting two wells that according to 3rd parties that we believe to be reliable, came on initially at 800 barrels of oil per day and the other anywhere between 250 to 500 barrels per hour in the Appalachian Mountains, at Highpoint Morgan County, in Northern Eastern Tennessee. Montello is drilling under-balanced to the basement estimated to be between anywhere from 7000 feet up to a 9500 foot depth. Some of the information on the two wells drilled in 2002 and 2003 and regarding the significant pressures incurred at similar approx.depths between 2400 to 2600 feet, may be found in our Related Articles Section. We're looking for the source of this tremendous pressure. Please see lots of 3rd party data in our Tennessee Project and Related Articles Sections for your perusal.
The Company's primary goal this summer onwards is to organize and conduct a high impact drilling program "Hunting for Elephants" utilizing the latest in modern drilling techniques in a part of the state of Tennessee where a limited number of deep tests have been drilled from the late 1960's through to the early 1980's. Montello is also searching for potential high impact exploration drilling opportunities back home in the Province of Alberta "Canada's Long-time Oil and Gas Leading Province."
Address: P.O. Box 1757, Station M, Calgary, AB, CA T2P 2L8
Telephone: (604) 649-0080
Facsimile: Email: email@example.com
CEO: William R. Cawker
Market Cap: 26.34 m
Issue Type: Common Stock
Outstanding: 142.36 m
35.78 k (as of 9/28/07)
Short Int Ratio: 0.00 ... % of Float:
FROM THEIR WEBSITE: http://www.montello.com
Mon Sep 17, 2007
Share Capitalization for 2nd Quarter Fiscal 2007 ended January 31, 2007
The Company's principal business activities include the evaluation, acquisition, exploration and development of oil and gas properties in Western Canada and Tennessee, USA.
1. SHARE CAPITAL
Authorized Unlimited Common shares without par value issued: 142,363,552
Number of shares Value
Balance as at July 31, 2006 103,438,343 $ 17,980,440
Issued for cash 12,720,000 1,272,000
Issued for cash pursuant to a flow through share private placement 6,419,000 898,600
Issued for cash on exercise of warrants 7,700,000 770,000
Issued for cash on exercise of stock options 4,172,000 428,200
Fair value transfer on exercise of stock options - 290,681
Issued for settlement of convertible debenture 7,914,209 870,562
Share issue costs (80.079)
142,363,552 $ 22,430,404
The Company has the following share common share purchase warrants outstanding at September 17th, 2007:
1,828,884 $0.20 November 18, 2007
5,714,209 $0.11 September 30, 2008
6,419,000 $0.20 March 21, 2008
12,720,000 $0.13 December 13, 2008
The following table summarizes information about options outstanding at September 17th, 2007:
1,500,000 $0.13 September 16, 2010
1,000,000 $0.11 January 6, 2011
1,685,000 $0.10 June 7, 2011
200,000 $0.11 September 14, 2011
550,000 $0.11 November 9, 2011
2,930,621 $0.11 December 21, 2011
558,900 $0.15 February 9, 2012
500,000 $0.135 March 6, 2012
361,500 $0.11 April 21st, 2011
2,900,000 $0.14 Sept 5th, 2012
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