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Gold/Mining/Energy : Canadian-under $3.00 Stock-Picking Challenge
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To: Duff Gain who wrote (6959)3/6/2002 2:00:49 PM
From: Al Collard   of 11802
 
MEO-v...in the news:

Montello's Tennessee lands to be drilled March 11 or 12


Wed 6 Mar 2002


Mr. Patrick Power reports
MONTELLO ENTERS INTO DRILLING CONTRACT IN TENNESSEE
Montello Resources has been notified by its joint venture partner, Capital
East Ventures, that a contract has been signed with Union Drilling to
commence drilling on its eastern Tennessee oil and gas properties.
The joint ventured leases, Rogezsville and Sneedville, were originally
selected by using the national uranium resource exploration (NURE) airborne
data acquired through the US Department of Energy's (DOE) 10-year
comprehensive survey of uranium values. Subsequently, charts from
high-quality 2-D seismic work performed under a DOE contract verified two
areas of significant potential gas reserves in east Tennessee. Radiometric
measurements along with telluric analysis were used to design an efficient
3-D seismic shoot.
The 3-D seismic was completed and interpretation produced drill targets.
These 3A targets were compared with the Tellurics targets and it was
confirmed that there was a direct correlation and both results indicated
the presence of hydrocarbons at the same depths. In addition to hydrocarbon
indicators, these drill targets display faulted and fractured reservoirs.
Capital East Ventures, the operator, has notified Montello that Union will
be able to mobilize the rig as of March 10, 2002, with actual drilling to
commence on March 11 or 12, 2002.
For further details on the drill program please call the company at
604-689-1799 or E-mail: it@nontello.com.
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