Replies to post #209 on Montana Oil (fka MOGI)

[Stix]

I guess if you need news......could have waited on that one till they had something to say news worthy.

[Mr. Zen]

mikeymac, thanks for that news, Also I just got off the phone with Pete Sanders, he was away (in Europe) and he sounded happier than I have ever heard him,

Putting a well tie in line into a production pipeline is a coordinated effort, I did not know that the entire line had to be shut down, but that makes sense.

There is also a drilling rig shortage in Alberta because of all the wells going in but Pete has a rig on route, minor delay with tonnage of the rig over one township but that seems to be sorted out, drilling usually take 10 to 14 days depending on depth.


now I need to read between the lines, does the trip to europe have anything to do with the news of financial backing?? Pete would not comment on it so I guess we just wait and see.

[Argyll]

>>The Sylvan lake project will begin very shortly the company and its partners have secured a drilling rig and are only waiting for a temporary road ban to be lifted. The rig is currently sitting in Red Deer Alberta a mere 30 miles from Sylvan Lake. The initial well is a 7,200-foot Peskisko Sand test that is prospective for oil and gas. It is expected to take approximately 10 to 12 days to drill and test the initial well. Each development well has probable production of 150 barrels of oil per day and 750 million cubic feet gas per day with reserves in excess of 1 billion cubic feet gas and 300,000 barrels of oil. There are four other pay zones that are prospective for gas. The average well in the Sylvan Lake Field has produced 500 barrels of oil per day with over one million cubic feet of gas per day. If successful, the company intends to drill up to 4 more wells on these land sections. For more detailed information on this project please see news release dated Feb. 7th, 2005. An announcement will be made immediately upon the commencement of drilling.>>