Majestic Oil & Gas, Inc to Drill Wildcat Oil Well in Northern Montana
Posted on: Tuesday, 16 October 2007, 12:00 CDT
CUT BANK, Mont., Oct. 16 /PRNewswire-FirstCall/ -- MAJESTIC OIL & GAS, INC (the "Company") (BULLETIN BOARD: MJOG) , a United States Public Company whose securities are qualified for quotation on the Over the Counter Bulletin Board today announced that the Company will be drilling the Jody Field #4-1 well located in Pondera County, Montana.
This exploration wildcat oil well is being drilled in the NENENE-Section 4-T28N-R6W, Pondera County, Montana. The projected depth of this oil well is 3,450 feet with the primary objective being the Madison/Sun River Dolomite. Other potential zones of interest are the Bow Island and Sunburst Sandstones. A wildcat well is considered to be a well that is drilled, based on a large element of hope, in a frontier area where very little is known about the subsurface. However, the Company has determined that the site is located on the upside block of a structural fault, which creates an excellent opportunity for an oil deposit. A study of the logs from offsetting wells showed good oil or hydrocarbon shows in the Madison/Sun River Dolomite
The Company owns a 25% interest in this wildcat oil well. The well site has been surveyed and we expect to commence drilling operations in the next two weeks when the drilling rig becomes available.
MAJESTIC OIL & GAS, INC "Patrick M. Montalban" Patrick M. Montalban, Chairman of the Board President & Chief Executive Officer
THIS NEWS RELEASE WAS PREPARED BY MANAGEMENT. THE OTCBB DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS
RELEASE
Majestic Oil & Gas, Inc
CONTACT: Majestic Oil & Gas, Inc, +1-406-873-5580, or Fax, +1-406-873-2835, mjoag@bresnan.net
Web site: http://www.majesticoilandgas.com/
Source: PRNewswire-FirstCall
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