WESTON, Fla., Feb. 8, 2005 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: Montana Oil and Gas (Pink Sheets:MOGI), Kerr-McGee Corporation (NYSE:KMG), Texas Instruments Incorporated (NYSE:TXN) and Halliburton Company (NYSE:HAL).
Aggressive investors and traders may want to watch Montana Oil and Gas (Pink Sheets:MOGI) this morning! Yesterday after the markets closed, the company issued a press release presenting a project description with regards to its Sylvan lake oil and gas lease.
This could be great news for investors! Peter Sanders, Montana Oil and Gas President noted, "After overwhelming curiosity from shareholders and potential shareholders concerning the Sylvan Lake area, and how the company's partners came to acquire such coveted land, I am happy to be able to present this project description in great detail."
Investors watch this one! According to the press release, The Sylvan Lake oil and gas field was discovered in the late 1950's and has produced over 40 million barrels (mbbls) of high quality crude oil and 50 billion cubic feet (bcf) of associated natural gas, predominantly from the Mississippian Pekisko and Shunda formations.
The mineral rights sat available and dormant until the early 2000's as almost all oil and gas companies thought they were held by the original lessee. Through diligent land work (including field visits) Montana Oil and Gas partners discovered this relinquishment of the deeper mineral rights and quickly leased the west half of section 3. Since that time their partners have managed to lease an additional 160 acres (one quarter section) of section 3. Energy 51 has the right to earn 50% of this prospect (possibly 75%) with the drilling of a test well in 5-3-38-3W5M.
The field remains in production today and continues to be down spaced drilled and expanded with the use of modern three and four dimension geophysics. See the company's press release for complete details of the project.
For more in-depth coverage of Montana Oil and Gas, visit http://216.63.242.254/MOGI0207.htm
Prior to yesterday's press release, the stock closed yesterday at Fifty cents a share.
Stocks showing interesting activity yesterday at the close of the regular trading day were: Kerr-McGee Corporation (NYSE:KMG) up 0.3% on 3.9 million shares traded, Texas Instruments Incorporated (NYSE:TXN) down 0.4% on 11.1 million shares traded and Halliburton Company (NYSE:HAL) down 2.3% on 3.3 million shares traded.
Commentary:
"Thursday will see the U.S. trade gap numbers for December. The deficit hit a record of $60.29 billion in November, mainly due to strong oil demand and consumer goods. The overall deficit for the year 2004 will top $600 billion according to the Commerce Department," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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