MEO Montello Resources Ltd (Tier2)

Montello Resources Ltd. (TSX VENTURE:MEO) ("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.


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

William R. (Bill) Cawker, President - Chairman

All prospective and current shareholders of Montello Resources are invited to
join the company's official investment forum exclusively at Pinnacle Digest:
http://www.pinnacledigest.com/company/meo:ca. The forum allows for investor
controlled discussion, questions and progressive feedback from other
shareholders and investors. Third party reports on the company are also
available at www.pinnacledigest.com. Please also go to www.sedar.com for a
detailed list of all filings.


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.

Montello Resources Ltd (Tier2) (TSXV:MEO)
Historical Stock Chart
From Jun 2024 to Jul 2024

Montello Resources Ltd (Tier2) (TSXV:MEO)
Historical Stock Chart
From Jul 2023 to Jul 2024