Montello Resources Ltd fka TSX:MEO

[man alive]

So much for the Break-out, now a break-down..short term, I would think..

[man alive]

Point and Figure breakout..

[mick]

it was nice so thanx to all,,,Montello Resources Ltd , (V.MEO)

[mick]

first two can tell ya this.


#2 V.MEO or [MEO.V on yahoo and charts]. mick 10/11/2007 5:30:36 PM
#1 i started this one for V.MEO because of mick 10/11/2007 5:15:15 PM


i think because of canadian symbol this one got formed.

[mick]

i had no idea there are three forums for V.MEO

[mick]

man alive, i put it together. i try to give information. if all feel this is the one then i should return as moderator here.

don't know who was first but does it matter?

i put GNNS together.

[contractor10940]

ya your right, I'll speak with Matt about it

[man alive]

Contrac.. No, but I feel this one has the best iBox, thats thanks to who ever put it together.

Is there a way to merge them? Or, just try to use one more than the other.

[contractor10940]

is there really a need for 3 Montello discussion boards? this one another meo.v and MLORF's

[man alive]

greeenM.. I'm sure you checked the quote/news link on this page today. Seems MEO is getting busy.. G/L

[greenmonster]

Looking for more PR soon


Jockee

[greenmonster]

.18 x 18.5 this morning premarket.


Jockee

[greenmonster]

Need to keep the MoMO !

Come on Cawker

jockee

[man alive]

News out today.. High of .19 so far today.. See the above thingy....
V.MEO Quote/Level II-News-

[pplatte9]

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.

[mick]

Detailed Quote for Montello Resources Ltd (V.MEO)
$ 0.225 0.015 (+7.14%) Volume: 1.67 m 3:35 PM EST Nov 5, 2007

[mick]

o.k., good afternoon. is that uranium purchase?

[greenmonster]

820 Acres from what i have found.
That is 1.5 square miles


Jockee

[mick]

was this acquisition a large one?

[mick]

hi pplatte, interesting company.

[mick]

hi monster, looks like this drilling company is for real.

thanx for these comments.

[mick]

hi pete, good morning. i didn't know there was some action here.

welcome to v.meo

[greenmonster]

11 - Acquisition carried out privately

bought on the open market ???

Prices between .25 and .27 on the 0ct15, 2007


MMMMMMMMMMMMMMMM???????????????

Jockee

[greenmonster]

The management is hogging the options all of a sudden.

http://www.canadianinsider.com/coReport/allTransactions.php?ticker=meo

Maybe they know something we dont ?????????????

Jockee

[pplatte9]

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.

[mick]

hi pinkeyepete, thanx for the great comment.

[mick]

hi greenmonster, i hope we will see the big oneas we go in this last qtr of 2007.

thanx for noticing v.meo

[greenmonster]

MEO has alot of potential

If they strike mmmmmmmmmmm...........

Have a small position
will increase with a market order if they strike

jockee

[pinkeyepete]

It looks like they are ready to punch through into the pressure zone, and you don't run 1 1/2 miles of casing down the hole if you didn't find anything. I'm betting they hit pay dirt, and before the well blows it's guts out they are casing it. Then it's a matter of how much more they can drill before we get a gusher under so much pressure they can't continue deeper. 400 barrels per hour would start ringing the cash register big time. $720,000 per day. 25% Montello intrest = $180,000 per day. 65.7 mil per year if it comes in at 400 per hour. Montello becomes a $6.75 stock at 15 times cash flow in 08.

[mick]

V.MEO or [MEO.V on yahoo and charts].

[mick]

i started this one for V.MEO because of their interesting places and properties driling for oil and natural gas.

also it didn't have a forum for canadian/u.s.a. views.