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Gold/Mining/Energy : Montello Resources

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To: FRANK KENDRICK who started this subject	8/21/2000 1:06:07 PM
From: JP	Read Replies (1) of 4256

Montello Resources Ltd. is pleased to announce that progress on its MONTELLO STURLS 13-1-69-21 W5M Test Well, 50% owned by Montello, is proceeding on schedule. Current depth as of 8:00 A.M. August 21, 2000 is 2388 Meters. The well is licensed to 2840 Meters Total Depth. A definitive Devonian Wabamun Formation top has been identified in well cuttings and confirmed as a sharp drilling break on the geolograph. The subsea elevation of the Wabamun top is structurally at a higher elevation than the regional strike of the Wabamun. It is also at a significantly higher structural elevation than the Discovery Well approximately one kilometer to the Northwest. The Company's consulting Geologist interprets the higher than regional positive Wabamun structure as a 'drape' factor in the Wabamun above suspected underlying reef buildup(s). To view one of the 2-d seismic lines that helps illustrate this feature please visit the company web site at montello.com. Updates will continue as Montello drills ahead. ON BEHALF OF THE BOARD OF DIRECTORS MONTELLO RESOURCES LTD. Per: "Patrick Power" PATRICK POWER, President

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