VANCOUVER, British Columbia, Oct. 20, 2005 (PRIMEZONE) -- Montana Oil and Gas (Pink Sheets:MOGI) is pleased to report that the 1-5-60-25W4M Westlock well -- that was completed and tied into a sales line in May -- continues to produce strong revenues for the company. The Westlock well thus far has produced 163.8, 271, 104.2, and 129.38 E3M3 (convert to MMCF 0.035494) from May to August inclusive. Volumes for September and October will be announced upon receiving the appropriate data from our operator. All appropriate royalties, transportation and operating costs have been factored in and taken off by the operator. Peter Sanders noted, "The huge rise in natural gas prices of late will benefit the company and its shareholders in terms of future revenues and immediate cash flows."
The Sylvan Lake 6-3-38-3W5M well, has been drilled to 7200 feet and has been cased as a potential Pekisko oil well and potential Shunda gas well. The operator is now conducting pre-production tests and is measuring pressures in the bore hole. The operators have informed Montana Oil and Gas, that details of the Sylvan Lake completion are expected in the last part of October or early part of November.
The company also reports that negotiations are taking place regarding a large farm-in plan in the state of Montana with two key joint venture partners. The company is also pleased to report to its shareholders that talks have begun regarding a non-conventional energy project in Mongolia. Details of both projects will be made public shortly.
Safe Harbour statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors effecting the company's operations, markets, products and prices and other factors discussed in the company's various filings with the Securities and Exchange Commission.
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