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Gold/Mining/Energy : MOGI - Montana Oil & Gas, Inc.
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From: doubloon3/2/2005 9:15:49 AM
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Sylvan Lake Oil Development Drilling Project

Energy 51, the operator, has contracted a drilling rig to be on site March 8th to drill the initial 7,200 ft Sylvan Lake well to test the Pekisko oil and the Shunda gas formations. The drilling and initial testing is expected to take approximately 12 days. Sylvan Lake project that has the potential for four oil and two gas wells where each well has the potential to produce approximately 300 barrels oil per day from the Pekisko oil formation with potential reserves of 500,000 barrels oil. In addition , the Shunda gas formation which is a secondary target, has the potential for approximately 1,000,000 cubic feet gas per day per well with potential reserves of three billion cubic feet gas.

Barrhead Natural Gas Development Drilling Project

Energy 51, the operator, advises that the drill pad has been completed and expects to contract a drilling rig in the next several days to spud the initial well to test the Belly River and Edmonton gas formations to a depth of 3200 feet. The Barrhead is a three section development drilling program with a minimum potential for six wells with reserves of approximately 0.6 billion cubic feet gas per well with a wellhead sales price of approximately $5 USD per thousand cubic feet gas produced
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