Montello Resources Ltd.
TSX VENTURE : MEO

Montello Resources Ltd.

November 14, 2007 15:01 ET

Montello Reaches Total Depth & Contracts Haliburton to Log John Bowen #2 Test Well in Morgan County Tennessee

CALGARY, ALBERTA--(Marketwire - Nov. 14, 2007) - Montello Resources Ltd. ("Montello") (TSX VENTURE:MEO) as to a 55% interest, Austin Developments Corp. (TSX VENTURE:AUL) as to a 40% interest and Great Northern Oilsands Inc. (PINK SHEETS:GNNS) as to a 5% interest, announces that the John Bowen #2 Well ("the Test Well") has now been drilled to a total depth of 9,580 feet after having reached what is believed to be the Pre-Cambrian basement after circulating granite samples to surface. The hole is being conditioned and Haliburton has been contracted to handle the logging of the Test Well.

About Montello Resources Ltd.

Montello Resources Ltd. (TSX VENTURE:MEO), www.montello.com, is an emerging, publicly traded company listed on the TSX Venture Exchange in Canada. Montello is engaged in high impact oil and gas exploration "hunting for elephants" in the Tennessee Appalachians as well as in Alberta. Montello is also active in the Pincher Creek Area in Alberta where Montello recently participated, as to a 25% interest, in a successful recompletion of the Brown Sand and the Cadomin / Kootenay sections in the 1-11-4-29W4 well location. 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.

ON BEHALF OF THE BOARD OF DIRECTORS

William R. (Bill) Cawker, President-CEO

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Reader Advisory: This news release may contain forward-looking statements, including management's operations and capital expenditures and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Corporation's control. The Corporation's actual results, performance or achievements could differ materially from those expressed in, or implied. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties that could cause actual results to differ materially. There can be no assurances that future developments affecting Montello will be those anticipated by management. Furthermore any forward-looking statements contained in this news release are made as at the date of this news release and the Corporation does not undertake any obligation to update publicly or to revise them whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. We Seek Safe Harbor.

"BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead."

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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