Montello Resources Ltd.
TSX VENTURE : MEO

Montello Resources Ltd.

March 18, 2008 09:15 ET

Montello Announces Under-Balance Drillers Mobilize At Highpoint, Tennessee

CALGARY, ALBERTA--(Marketwire - March 18, 2008) - Montello Resources Ltd. (TSX VENTURE:MEO) ("Montello") is pleased to announce that Strata Energy Services Inc., ("Strata") based in Red Deer, Alberta, Canada and Weatherford Services personnel from Casper, Wyoming, who specialize in Nitrogen drilling packages, have mobilized and set up their under-balanced drilling equipment on the Morgan Highpoint # 4 Test Well. Upon reaching total depth on the Morgan Highpoint # 4 Test Well, the drilling rig and Strata's under-balanced equipment will be moved onto the Morgan Highpoint # 3 Test Well which will then be drilled to total depth.

By drilling the wells under-balanced, damage to the fractured reservoirs, which are renowned for producing high volumes of both gas and oil, can be minimized. In addition, by drilling the wells under-balanced the test wells can effectively be tested and produced at the same time that they are being drilled, thereby providing significant information as to how best to complete and equip them.

Strata's management and engineering team has been involved in the drilling of over 500 wells under-balanced. Strata has a strong background in all aspects of managed pressure and under-balanced drilling operations including compression, nitrogen, surface recovery and rotating flow diverters.

The John Bowen # 2 Test Well will be logged and evaluated utilizing the same crew that will be logging the Morgan Highpoint # 3 & # 4 Test Wells. With having already encountered hydrocarbons in the Morgan Highpoint # 3 Test Well, we are excited about getting all three test wells drilled, logged and evaluated.

Drilling ahead on Morgan Highpoint # 4 was done to avoid keeping the rig idle awaiting for Strata Energy and Weatherford personnel and equipment to mobilize on-site for Test Well # 3. We have accomplished our goal of expediting drilling on both the # 3 and # 4 wells with as little down time as possible.

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 pursuing shallow oil and gas opportunities in Alberta and engaged in drilling high impact oil and gas exploration prospects "hunting for elephants" in the Tennessee Appalachians as well as in Alberta.

ON BEHALF OF THE BOARD OF DIRECTORS

William (Bill) R. Cawker, President & CEO

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Reader Advisory: This news release contains certain 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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