Montello Resources Ltd. (MLORF)

[contractor10940]

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.