Montello Resources Ltd.

Montello Resources Ltd.

March 15, 2005 19:20 ET

Montello Completing Two More Wells


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: MONTELLO RESOURCES LTD.

TSX VENTURE SYMBOL: MEO

MARCH 15, 2005 - 19:20 ET

Montello Completing Two More Wells

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 15, 2005) - Montello
Resources Ltd. (the "Company") (TSX:MEO) is pleased to provide the
following update on its Oil and Gas Leases located in North Central
Tennessee.

Further to the news release dated February 15, 2005, the Company was
successful in commencing work on its "Knox" Prospect. The "Knox"
Prospect was initially drilled to 1500 feet in the late 1970's and was
re-entered and drilled to it's present depth of approximately 3600 feet
in the late 1980's. After reviewing logs and the geologist's report it
was determined that there are several potential pay zones. In order to
determine which formation or formations have been continually producing
oil, in addition to the fact that the well was only cased to 800 feet,
the Company chose to hire a firm to film video footage from app. 800
feet to the bottom of the well in both the Knox well and the Bobby
Brooks #6 well. This observation has proven very successful in not only
showing exactly what depth the oil and gas is coming from, but the zones
are larger than the logs had indicated. After reviewing the video
footage a decision was made to production case both wells. The video
footage will be used to determine the exact depth in which to perforate
the well. To view video footage of the well please visit our web site at:

high bandwidth

www.montello.com/i/videos/meo-mar152005-clip-high.wmv

low bandwidth

www.montello.com/i/videos/meo-mar152005-clip-low.wmv

As of today the Company has production cased and cemented both the Knox
and the Bobby Brooks #6 wells. Perforating, acid fracing and production
testing of the wells is scheduled to commence on Monday the 21st, 2005.

Montello continues to test the gas wells on the Tompkins property and is
currently installing a pipeline in order to tie these wells together at
the gathering yard. We hope to tie these wells into the main pipeline
and commence production on these wells soon. Further production numbers
from the balance of the ten gas wells will be released as they become
available.

ON BEHALF OF THE BOARD OF DIRECTORS OF

MONTELLO RESOURCES LTD.

Patrick Power, President


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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Montello Resources Ltd.
    Patrick Power
    President
    (604) 689-1799
    (604) 689-8199 (FAX)
    www.montello.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.