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Gold/Mining/Energy : Montello Resources

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To: Chris K. who wrote (4240)	9/26/2000 6:01:52 PM
From: Dev	Read Replies (1) of 4256

Anyone care to decipher and comment on the significance (if any) of this news release? Montello Resources Ltd - News Release Montello confirms two Alberta gas zones Montello Resources Ltd MEO Shares issued 49,218,636 2000-09-25 close $0.25 Tuesday Sep 26 2000 News Release Mr. Patrick Power reports Montello Resources has received initial completion and production testing results from its Sturgeon Lake, Alta., well. Two of three potential gas zones have been successfully tested to date. The first is a Devonian carbonate and the second is a Cretaceous sand. A Cretaceous conglomerate still awaits testing. Flow rates have proven to be consistent to date and the company is encouraged by the results. As testing is continuing on these zones, flow rates and pressures will be reported as they become available. The 11-metre-thick, unconsolidated Cretaceous sand zone with in excess of 25-per-cent porosity and excellent permeability, was perforated over a two-metre section. The zone produced/tested substantial volumes of gas, however, due to formation congestion, sustained flow at higher pressures was inhibited. During the drilling of the well the zone was congested through the introduction of drilling fluids. Work will continue on this zone to rectify this congestion and maintain elevated pressures and thereby enhance gas recovery at substantially higher volumes. A dolomitized Devonian carbonate was perforated over a six-metre section. Significant gas has been tested from pinpoint vugs, intercrystalline dolomite porosity and microfractures. Exploration of this discovery zone continues. A two-metre-thick Cretaceous conglomerate still awaits testing. Work on this zone will begin shortly. Video footage of the drill program and flare test will be on the company Web site within 24 hours at www.montello.com. (c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com

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