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| |  Montello Acquires 49 Tennessee Wells Montello Resources Ltd. (the "Company") (TSX Symbol "MEO") announces that it has acquired 49 oil and gas wells in central Tennessee. The wells are a combination of oil, gas and oil, and gas wells that were shut-in in 1985 due to low oil and gas prices. Most of the wells have had previous production, are cased, and are ready to resume production. The wells are all at a depth of approximately 1,500 ft. and can be described as high volume low pressure wells. None of the wells has been stimulated by modern techniques such as acid fracing or secondary flooding. A review of the drill logs shows that there are additional areas that show potential for oil and gas. The Company intends to open the wells and negotiate a new contract with the transmission provider (pipeline). The Company is currently negotiating for additional acreage and production in the area. ON BEHALF OF THE BOARD OF DIRECTORS OF MONTELLO RESOURCES LTD. "Patrick Power" Patrick Power, President The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Video Clips Real Player is required to view these video clips. Please click on the RealPlayer icon to download the free player.
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