Montello Suspends Drilling Operations After Encountering Hydrocarbons in Morgan Highpoint # 3 Test Well, Morgan County Tennessee

http://www.marketwire.com/mw/release.do?id=830519

CALGARY, ALBERTA--(Marketwire - March 10, 2008) - Montello Resources Ltd. (TSX VENTURE:MEO) announces that the participating interests in the Morgan Highpoint # 3 and # 4 Test Wells are as follows: Montello, as Operator, is paying 15% of all costs associated with both the Morgan Highpoint # 3 and # 4 Test Wells to earn a 35% interest in the associated production spacing units. Austin Developments Corp. (TSX VENTURE:AUL) is paying 20% of the costs to earn a 30% interest, Blackrock Petroleum Corp. (OTCBB:BRPC) is paying 60% of the costs to earn a 30% interest and Park Place Energy Corp. (OTCBB:PRPL) is paying 5% of the costs to earn a 5% interest.

The Morgan Highpoint # 3 Test Well, located in Morgan County, Tennessee is strategically located approximately one mile west of the John Bowen # 1 & # 2 Wells and one mile north-west of the Howard White # 1 Well. From a geological standpoint this is significant as the Howard White # 1 Well, that was drilled in 2002, resulted in a Blowout flowing over 500 barrels / hour of light crude oil (12,000 barrels of oil per day for two days) before being capped. Environmental and legal issues relating to the Blowout have to date precluded the re-drilling of the Howard White # 1 Well

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