The Company's authorized share capital consists of unlimited common shares without par value. The Company has only one kind and class of shares and there are no unusual rights or restrictions attached to that class. As at July 31, 2007, the Company had a total of 142,363,552 common shares issued and outstanding (2006 - 103,438,353).

As of November 30, 2007, the Company had a total of 175,933,353 common shares issued and outstanding. As at November 30, 2007, the Company issued 11,449,855 common shares for the exercises of options with proceeds $1,249,006.71; the Company issued 12,417,780 common shares for the exercise of warrants with proceeds of $1,577,027.19 and on October 19, 2007 the Company by way of private placement issued 8,202,166 common shares at 18 cents per share with an attached share purchase warrant at 30 cents exercisable for one year for proceeds of $1,476,389.88 less share acquisition costs (finders fees).

The transfer agent has confirmed that on November 30, 2007, there were 175,933,353 shares outstanding per the various dates below are:

October 31, 2007	174,957,993	October 31, 2006	113,327,552
July 31, 2007	142,363,552	July 31, 2006	103,438,343
April 30, 2007	142,363,552	April 30, 2006	101,238,343
January 31, 2007	142,363,552

FINANCING ACTIVITIES

During the first quarter ended October 31, 2006, the Company entered into a debt settlement agreement with an arm's length creditor extinguishing $870,562 .99 by issuing 7,914,209 common shares at $0.11 per share plus 7,914,209 share purchase warrants entitling the holder to purchase an additional share of the Company at a price of $0.11 per share expiring September 20, 2008.

On December 19, 2006 the TSX Venture Exchange accepted for filing documentation with respect to a Non-Brokered Private Placement announced November 9, 2006 and November 14, 2006. Gross Proceeds of $1,272,000.00 was raised via the sale of 12,720,000 units priced at $0.10 per unit. The unit offering consisted of 12,720,000 shares and 12,720,000 share purchase warrants to purchase 12,720,000 shares at $0.13 for a two year period. There was a four month hold applicable for the shares and a finder's fees of 6% totaling $69,780 was payable on the placement in accordance to the policies of the TSX Venture Exchange. The proceeds of the private placement are being used for general working capital purposes and for further potential oil and natural gas mineral lease acquisitions.

On December 29, 2006 the TSX Venture Exchange accepted for filing documentation with respect to a non-brokered flow through private placement announced December 19, 2006. Gross Proceeds of $898,600.00 were raised via the sale of 6,419,000 Flow-Through units consisting of 6,419,000 shares at $0.14 per share and 6,419,000 share purchase warrants to purchase 6,419,000 shares at $0.20 for a period of 15 months from the date of issuance. The common shares issued pursuant to the Private Placement will be subject to a four month hold period expiring April 23, 2007. The proceeds from the private placement were for drilling in Alberta prior to December 31, 2007..

During the year ended July 31, 2007, the Company issued 7,700,000 common shares on exercise of share purchase warrants at $0.10 per share for total cash proceeds of $770,000 and furthermore the Company issued 4,172,000 common shares on the exercise of stock options at various prices ranging from $0.10 to $011 per share for total cash proceeds of $428,600.

Between January 1, 2007 and July 31, 2007 the company did not raise any money via Private Placements via the exercise of warrants and options during this period ending July 31, 2007.

Subsequent Events and Financing Activities for the Period encompassing August 1 through to November 30, 2007:

- On September 6, 2007 the Company granted 2,900,000 stock options at 14 cents per share expiring September 5, 2012.

-There were 2,039,565 warrants exercisable at CDN $0.20 per share that expired on September 15;

- On October 2, 2007 granted 3,529,868 stock options at 15.5 cents per share expiring October 1, 2012.

-On October 19, 2007, the Company by way of private placement issued 8,202,166 common shares at 18 cents per share with an attached share purchase warrant at 30 cents exercisable for one year for proceeds of $1,476,389.88 less share acquisition costs (finders fees);

-On October 30, 2007 the Company granted 9,900,000 stock options at 21 cents per share expiring October 29, 2012.

-There were 1,003,884 warrants exercisable at CDN $0.20 per share that expired on November 18;

-The Company issued 11,449,855 common shares for the exercises of options with proceeds $1,249,006.71;

-The Company issued 12,417,780 common shares for the exercise of warrants with proceeds of $1,577,027.19;

-On November 1, 2007 the Company and Vanguard Exploration Corp. announced an agreement to purchase "Said Interests" of $3,499,000 located on the T'suu Tina Reserve (Sarcee) subject to regulatory approval, to be paid for by Montello issuing 11,663,333 common shares valued at $0.30 from treasury, which will subject to a four (4) month hold period.

Disclaimer: Data regarding Montello's Capital Structure (common shares outstanding, warrants, options) is gathered from sources deemed to be reliable. It cannot be guaranteed for accuracy as to whether it is current and up to date. The exercise or issuance of warrants or options from time to time will alter the totals, so the Company therefore provides the above data only as an indicator. Please refer to News Releases and Reports posted on www.sedar.com to help you ascertain its accuracy.


There are no "Share Structure" items released on this web site at this time.