🕐17.09.09 - 00:02 Uhr
Montello Continues Asset Clean Up
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Re: News Release - Thursday, September 10, 2009
Montello Continues Asset Clean Up
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September 10, 2009, CALGARY, ALBERTA - Montello Resources Ltd (TSX
Venture Exchange Symbol: MEO) is pleased to announce the completion of
its sale of its non-operated properties in the Mulligan area to the
operator, Texokcan for the gross sum of $111,000.00.
In Tennessee, the Company has closed on the sale of 107 acres of land
and associated buildings in Morgan County, for gross proceeds of
approximately US$248,000.00.
Montello and its partners will retain a
3.7 acre parcel around the two Bowen well bores and the access road to
the well sites, along with all mineral rights.
Montello is currently reviewing operations on the Morgan Highpoint #3
well to commence initial work on this well with a view to attempting to
bring it into production.
Montello intends to examine the state of the
downhole conditions of the well prior to applying any remedial
treatment.
Going forward Montello will concentrate on its core properties in
Southern Alberta and Tennessee while continuing to evaluate existing
and emerging opportunities.
ON BEHALF OF THE BOARD OF DIRECTORS
"Peter C.
Brown"
Peter C .Brown
President-CEO-Chairman
For further information about this announcement and about Montello,
please contact Investor Relations Greg Tweed at .
Prospective and current shareholders are invited to join the companys
official investment forum at www.pinnacledigest.com/company/meo:ca
The online forum allows for investor controlled discussion, questions,
third party reports and articles, as well as feedback.
Please go to
www.sedar.com for a detailed list of all filings.
Visit
www.montello.com for ongoing updates & have your name included on our
mailing list.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
About Montello: Montello Resources Ltd.
(TSX-V: MEO), is a Calgary
based, publicly traded company listed on the TSX Venture Exchange in
Canada.
Managements goal is to pursue opportunities for high impact
oil and gas exploration and recompletion projects in the Appalachian
Basin in Tennessee as well as search for potential high impact
exploration drilling opportunities back home in the Province of
Alberta, Canadas oil and gas heartland.
Forward-Looking Information: This document may contain "forward-looking
information" within the meaning of Canadian securities legislation and
"forward-looking statements" within the meaning of the United States
Private Securities Litigation Reform Act of 1995 (collectively,
"forward-looking statements").
These forward-looking statements are
made as of the date of this document and Montello Resources Ltd.
(the
"Company") does not intend, and does not assume any obligation, to
update these forward-looking statements, except as required under
applicable securities legislation.
Forward-looking statements relate to future events or future
performance and reflect Company managements expectations or beliefs
regarding future events and include, but are not limited to, statements
with respect to the estimation of mineral reserves and resources, the
realization of mineral reserve estimates, the timing and amount of
estimated future production, costs of production, capital expenditures,
success of mining operations, environmental risks, unanticipated
reclamation expenses, title disputes or claims and limitations on
insurance coverage.
In certain cases, forward-looking statements can be
identified by the use of words such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or statements that
certain actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved" or the negative of these
terms or comparable terminology.
By their very nature forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or achievements
of the Company to be materially different from any future results,
performance or achievements expressed or implied by the forward-looking
statements.
Such factors include, among others, risks related to actual
results of current exploration activities; changes in project
parameters as plans continue to be refined; future prices of resources;
possible variations in ore reserves, grade or recovery rates;
accidents, labour disputes and other risks of the mining industry;
delays in obtaining governmental approvals or financing or in the
completion of development or construction activities; as well as those
factors detailed from time to time in the Companys interim and annual
financial statements and managements discussion and analysis of those
statements, all of which are filed and available for review on SEDAR at
www.sedar.com.
Although the Company has attempted to identify important
factors that could cause actual actions, events or results to differ
materially from those described in forward-looking statements, there
may be other factors that cause actions, events or results not to be as
anticipated, estimated or intended.
There can be no assurance that
forward-looking statements will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements.
Accordingly, readers should not place undue reliance
on forward looking statements.
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Copyright (c) 2009 MONTELLO RESOURCES LTD.
(MEO) All rights reserved.
For more information visit our website at http://www.montello.com/ or
send mailto:
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