Bay2water ~!! Here what MEO been up to
September 10, 2009, CALGARY, ALBERTA - Montello Resources Ltd (TSX Venture Exchange Symbol: MEO) is pleased to announce the completion of its sale of its non-operated properties in the Mulligan area to the operator, Texokcan for the gross sum of $111,000.00.
In Tennessee, the Company has closed on the sale of 107 acres of land and associated buildings in Morgan County, for gross proceeds of approximately US$248,000.00. Montello and its partners will retain a 3.7 acre parcel around the two Bowen well bores and the access road to the well sites, along with all mineral rights.
Montello is currently reviewing operations on the Morgan Highpoint #3 well to commence initial work on this well with a view to attempting to bring it into production. Montello intends to examine the state of the downhole conditions of the well prior to applying any remedial treatment.
Going forward Montello will concentrate on its core properties in Southern Alberta and Tennessee while continuing to evaluate existing and emerging opportunities.
ON BEHALF OF THE BOARD OF DIRECTORS
"Peter C. Brown"
Peter C .Brown
President-CEO-Chairman
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