snowiegeorgie
13 years ago
Friday, March 2, 2012 - Montello Resources - RESTART BOARD ?
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From A Recent Montello Post on Their Site :
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Thu Feb 9, 2012
Montello announces update to 23 December 2011 release
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. CALGARY, ALBERTA - Montello is pleased to update its shareholders that the company is close to completing its transaction with the private company as outlined in the previous news release of 23 December 2011.
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The major delay has been in tracing the line of title for the Pincher Creek area, specifically the property owned by Montello. Many changes have occurred in title over the past 20 years and Montello's potential partners in this play have taken longer than they anticipated in unraveling the history of title.
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The majority of that work has now been completed and the company feels the final hurdles for the transaction are about to be crossed.
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This delay has also led to a disruption in the company's ability to submit its business plan and the necessary filings the TSXV have requested. The company has been in constant contact with the Exchange and has been given until the 29th of February to submit the necessary documents for reinstatement.
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Although Montello's unaudited financials are up to date, a delay in this transaction has led to a delay in the timing of the company's audited statements, which will be submitted with all other documents related to reinstatement.
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Montello once again thanks its shareholders for their patience and support through these difficult times.
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ON BEHALF OF THE BOARD OF DIRECTORS
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"Peter C. Brown"
Peter C. Brown
President-CEO-Chairman
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when dealing with Montello, or its spokes-people, its I.R. people, and especially with Peter Brown, you can never be really sure what to believe.
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there was a one-year trading halt about 3 - 4 years ago ( from memory ) and this current trading halt is two years old. so i have incredibly owned this for almost five years, and i have been under a cease trade order for three of those years ! ! ! !
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i think a bought this originally on a recommend by 321Gold, which is not to blame 321Gold at all, they are blameless here . i am the d0pe who bought this.
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IF I CAN GET OUT WITH A DIME ( theroretically that is possible ) then i'll get out with a small profit. i think this b0z0 company actually does have some oil or gas !
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is there anyone still out there ?
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snowiegeorgie
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contractor10940
16 years ago
looky here;
MONTELLO RESOURCES LTD.
P.O. Box 1757 Station M
Calgary, Alberta
T2P 2L8
Tel. 604-408-7600
Friday, June 05, 2009 TSX Symbol: MEO
Montello Resources to be Reinstated for Trading June 8
2009-06-05 16:30 ET - Cease Trade Company Rescinded
Further to the TSX Venture Exchange bulletin dated April 8, 2009, the exchange has been advised that the cease trade order issued by the Alberta Securities Commission on April 8, 2009, has been revoked.
Effective at the opening, Monday, June 8, 2009, trading will be reinstated in the securities of the Company.
FISH1031
16 years ago
Its about TIME
FISH
Montello Provides Update on Tennessee and Announces Small Financing
Thursday November 20, 10:25 pm ET
CALGARY, ALBERTA--(MARKET WIRE)--Nov 20, 2008 -- Montello Resources Ltd. ("Montello") (CDNX:MEO.V - News) is pleased to announce the commencement of operations for the testing-completion of the John Bowen #2 deep gas zone. The rig arrived on site November 18, 2008. Montello is also currently involved in projects in Alberta.
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Montello also wishes to announce a non-brokered flow through private placement unit financing consisting of up to 1,550,000 units priced at $0.31 per unit. The unit is comprised of (4) four non-flow through common shares, (6) six flow through common shares for a total of 10 common shares as well as (10) ten common share purchase warrants exercisable at (5) five cents each, with a one year term.
The proceeds of up to $480,500 from the offering will be used to develop Montello's oil and/or natural gas prospects in Morgan County, Tennessee, and advance exploratory-completion activities on our Alberta joint venture properties.
If all common share warrants are exercised it would provide the Company with additional gross proceeds of $775,000.00. Sixty percent of the proceeds received from the sale of the flow through units will be used by Montello to incur qualifying Canadian exploration expenses, which will be renounced in favour of purchasers for the 2008 and/or 2009 taxation year depending on closing.
The purchase price of the flow through units will be allocated as to $0.03 per common share, and $0.001 per common share warrant. The closing trading price on November 18, 19 and 20, 2008 was (3) three cents per common share on the TSX Venture Exchange.
Finder's fees of up to 8% may be payable in certain instances.
The foregoing is subject to regulatory approval.
ON BEHALF OF THE BOARD OF DIRECTORS
Montello Resources Ltd.
Peter C. Brown, President-CEO
About Montello Resources Ltd: Montello Resources Ltd. (CDNX:MEO.V - News) is a Calgary based, publicly traded oil and gas explorer listed on the TSX Venture Exchange in Canada with operations focussed in Tennessee and in Alberta. Prospective and current shareholders of the Company are invited to join the company's official investment forum exclusively at www.pinnacledigest.com. The forum allows for investor-controlled discussion, questions, third party reports and articles, and progressive feedback from other shareholders and investors. Please go to www.sedar.com for a detailed list of all filings and news releases. Also visit www.montello.com for ongoing updates & have your name included on our mailing list. See http/www.pinnacledigest.com/company/meo:ca.
FISH1031
16 years ago
Contractor! Maybe this is why you still think this is a good stock too be in to.
Pay 2.52 a gal for gas the other day its going lower I think
Montello Resources Ltd. Pincher Creek Operational Activity Update
Wednesday October 15, 12:18 pm ET
CALGARY, ALBERTA--(Marketwire - Oct. 15, 2008) - Montello Resources Ltd. ("Montello") (TSX VENTURE:MEO - News) is pleased to follow up on the news release of yesterday provided by Pennine Petroleum Corp., our operator at Pincher Creek, Alberta which stated that equipment has been mobilized to initiate pump testing of the Brown Sand reservoir at the 100/01-11-004-29W4M discovery well.
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Although the operator estimated the work program to take 14 days, progress to date has been encouraging. The Brown Sand reservoir will soon be placed on pump to establish stabilized daily rates of oil flow. The operator has stated in their daily reports of October 12th and 13th to Montello, that approximately 500 barrels of clean oil has already been produced.
The Brown Sand was stimulated in October 2007, with flowing and swabbing production at indicated rates of 233 barrels per day of oil (43 API) and minor solution natural gas. The well bore was subsequently configured to production test the upper Cadomin formation reservoir. According to our operator, prior to sanding off, the Cadomin was producing an equivalent of 290 barrels per day fluid, 82-per-cent, 43-API oil with a steadily decreasing load fracture fluid cut to 18 per cent and 300 thousand cubic feet of sweet solution natural gas.
Subsequent to a mandated ERCB (Energy Resources Conservation Board) hearing to address the placement of a 258-metre sweet solution natural gas conservation pipeline, a commingling application will be made to the relevant authorities to produce both the Brown Sand and Cadomin formation reservoirs. The hearing initially scheduled for September 30th was re-set for November 26th and 27th, to discuss the tie in of the well directly into an existing system feeding Shell's Waterton gas plant. Issues such as over land reclamation and compensation rights for landowners will be discussed and clarified and thus are expected to not have an impact on production testing in the area.
Montello has a 25% interest in the 1-11-4-29W4 well. For further information, see our news releases of September 27 and October 4, 2007 filed on www.sedar.com. The Pincher Creek Field has been one of the most prolific fields in Alberta having produced some 600 BCF of gas and over 1 million barrels of associated liquids for over 50 years.
ON BEHALF OF THE BOARD OF DIRECTORS
Montello Resources Ltd.
FISH1031
16 years ago
Press Release Source: Montello Resources Ltd.
Montello Provides Update on Tennessee and Alberta and Announces Financing
Tuesday August 12, 4:58 pm ET
CALGARY, ALBERTA--(Marketwire - Aug. 12, 2008) - Montello Resources Ltd. ("Montello") (TSX VENTURE:MEO - News) wishes to provide the following update on the status of operations in Tennessee and Alberta.
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Montello Resources USA Ltd., the Operator, has been diligently making arrangements with Service Contractors for the proposed stimulation of the Morgan Highpoint Wells and for the testing-completion of the John Bowen #2 gas zone. The goal has been to commence these operations once "Services" were organized and the AFE signed. Montello apologizes for the lack of information pertaining to the project prior to July 31st, as this was prior to all of the JV Partners having signed the AFE for the first project to proceed. Peter Brown recently commented, "I have been reviewing previous work and data since coming aboard and would like to determine the extent of the potential at Highpoint and elsewhere in Tennessee so it is important to commence this next stage of operations imminently."
Elsewhere, Montello continues to participate in the condensate discovery in Pincher Creek, where it has a 25% working interest in a well that tested significantly from 2 zones (Please see our news releases of September 27th and October 4th, 2007 and our Quarterly MD&A's filed on www.sedar.com). The final work to bring on the condensate is anticipated to commence following a successful "Right of Way Hearing" - posted August 7th by the ERCB (Energy Resources Conservation Board) and scheduled for Tuesday, September 30th, 2008. An application was submitted by our operator for approval to construct and operate a pipeline that would be approximately 0.26 kilometres in length. Montello anticipates participating in further activities in the Pincher Creek area along the discovered condensate trend once this step is completed.
To assist Montello with such matters going forward on either side of the border, the Company is pleased to announce the advisory assistance of Mr. Darrell Davidson of Calgary, Alberta. Darrell has 30 years of business management experience that encompasses "Pipeline and Power Line Right of Way Management", as well as Land Brokerage for the resource industry for surface, freehold and crown mineral and oil and gas leases in British Columbia, Alberta, and Saskatchewan. He also has extensive experience in sales, marketing, and business development including private sector joint ventures as well as with First Nations. Montello welcomes his participation as the Company attempts to solidify its foundations.
Montello is in discussions with its Sarcee, Alberta JV Partners, regarding the timetable for commencement of work on the potentially high impact, currently suspended 10,957 foot 12-13-23-4 W5M cased potential Rundle Gas Well ("12-13 Well") on the T'suu T'ina Reserve approximately 18 miles west of the city of Calgary near Bragg Creek, Alberta. Montello holds an 8.5% working interest, net to the Company, in this potential large gas play.
Additionally, Montello has entered talks to acquire up to a further 10,000 acres of land in its focus areas in Alberta associated with current production.
Peter Brown stated, "My mandate in assuming the role of President of Montello quite simply is to bring on our various projects that I feel have solid merit and add to them. The goal is therefore to raise the necessary monies to get the work done in as expeditious a manner as possible and if the Company takes on a bigger piece of any particular project then so be it."
In order to be in a position to participate in all of the above projects with the anticipated follow up work, Montello is pleased to announce that it intends to make a non-brokered, no minimum amount, private placement of non-flow through units (the "Non-Flow Through Units") and flow through units (the "Flow Through Units") to accredited investors in the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba and Ontario, and subject to qualification, in the United States an aggregate offering to raise up to CDN $2,655,000, before the exercise of warrants ("the Private Placement Unit Offering").
The Non-Flow Through Unit portion of the offering will consist of up to 3,250,000 units priced at CDN $0.51 per unit and will be comprised of ten (10) Common Shares and ten (10) Common Share Purchase Warrants (the "Common Share Warrants"). Each Common Share Warrant will entitle the holder to purchase one additional Common Share at CDN $0.10 per share if exercised within a period of nine months from the first closing of the offering. If fully subscribed, the sale of the Non-Flow Through Units will provide the Company with gross proceeds of CDN $1,657,500.00, and if all Common Share Warrants are exercised will provide the Company with gross proceeds of an additional CDN $3,250,000.00. The purchase price of the Non-Flow Through Units will be allocated as to CDN $0.05 per Common Share and CDN $0.001 per Common Share Warrant.
The Flow Through Unit portion of the financing will consist of up to 1,750,000 units priced at CDN $0.57 per unit and will be comprised of four (4) Common Shares, six (6) flow through Common Shares and ten (10) Common Share Warrants. If fully subscribed, the sale of the Flow Through Units will provide the Company with gross proceeds of CDN $997,500.00 and if all Common Share Warrants are exercised will provide the Company with gross proceeds of an additional CDN $1,750,000.00. Sixty percent of the proceeds received from the sale of the Flow Through Units will be used by Montello to incur qualifying Canadian exploration expenses, which will be renounced in favour of purchasers for the 2008 taxation year. The purchase price of the Flow Through Units will be allocated as to CDN $0.05 per Common Share, CDN $0.06 per flow through Common Share, CDN $0.001 per Common Share Warrant.
Finder's fees of 8% of the purchase amount of Non-Flow Through Units or Flow Through Units, as applicable, sold as a result of introductions of subscribers to the Company, in cash, plus a number of Common Share Warrants equal to 8% of the number of such units sold as a result of such introductions may be paid on those portions of the Private Placement Unit Offering to persons qualified to receive such fees. The Private Placement Unit Offering is subject to the approval of the TSX Venture Exchange.
The Private Placement Unit Offering may close in one or more closings. Proceeds will be used by Montello to pay for the costs of the offering, and in management's discretion, to: develop its oil and natural gas prospects in Morgan County, Tennessee; advance exploratory activities on joint venture properties, including Pincher Creek, Sarcee, Grouard, Mulligan as well as to explore lands that Montello may acquire or farm-in to, and for general working capital purposes.
FISH1031
16 years ago
Montello Resources Ltd. Update on Tennessee; Management Update
Thursday July 31, 2:49 pm ET
CALGARY, ALBERTA--(Marketwire - July 31, 2008) - Montello Resources Ltd. (TSX VENTURE:MEO - News; "Montello") is pleased to announce that yesterday afternoon the last of our Joint Venture Partners, forwarded the signed "AFE" (Authorization To Fund Expenditure) to the Operator, Montello Resources USA Ltd., for a pending "Shallows Horizontal Stimulation Program". The testing of the deep gas zone in the John Bowen #2 Well is scheduled to proceed shortly afterwards. All JV Partners have now signed the existing "Shallows Horizontal Stimulation AFE". This phase of the Highpoint Project was approved by the JV Partners in May, 2008. We invite our shareholders to review the web-site www.petrojet.ca and view the "Wellbore Extender Animation Video" which provides a general overview of the procedure scheduled to be undertaken at Highpoint.
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Phil Emrich, President of Montello Resources USA, has been in Tennessee since Sunday. He has dedicated an extraordinary amount of time and effort in locating and coordinating for the mobilization of necessary equipment and services from significant distances away from our location at Highpoint, Tennessee. As soon as "AFE Monies" have been received, his goal is to finalize a start date so that mobilization can commence, given the logistics involved with services and availability of equipment necessary for this project to begin at Highpoint.
The Company is also pleased to announce that effective Monday, August 11, 2008, Mr. Peter C. Brown, currently COO, VP of Exploration and Geology, will assume the role as President of Montello Resources Ltd. Phil Emrich, President of Montello Resources USA Ltd. is joining the Board of Directors effective on August 11, 2008. Please refer to their credentials in the Management section at www.montello.com. Although Bill Cawker is stepping down as President, he will continue as Chairman of the Board of Directors, and will continue to closely work in a corporate capacity.
Also effective August 11, 2008, Michael A. Williams, B. Comm, FCA, of Calgary, Alberta, is assuming the duties of Chief Financial Officer. He became a Chartered Accountant with Peat Marwick & Mitchell in 1959, and was elected a Fellow of the Alberta Institute of Chartered Accountants in 1981. He began his oil and gas career working with the Home Oil Company from 1962 to 1969 and then from 1969 to 1981 he worked with CanDel Oil. Initially their Treasurer, he rose through the ranks to become president over a 12 year period. He subsequently joined Sulpetro Limited in 1981 becoming their CFO, then President International, managing their foreign operations and assumed duties as President from 1985 - 1987. Since then, he has been involved in various private and public oil and gas companies. He is analytical, pragmatic, a problem solver, and enjoys new challenges. Montello will greatly benefit from his expertise and years of experience in the oil patch and the Company welcomes him aboard.
Montello is working on terms for a proposed non brokered private placement including flow through shares to be announced shortly. The Company will be providing an update on its Alberta Projects in the near future.
ON BEHALF OF THE BOARD OF DIRECTORS
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