Why would they show the logs to a well they intentionally made confidential, and will remain so for the next 5 months? If they did produce an independent engineering report showing the well's potential, which we assume to be very good, borrowing money would be no problem. There is however, the issue of aquiring more land, and other issues we are not privy to at this time.

What I see in the shorter term is the deep gas from JB#2 - 17 feet of pay. The blowout well was estimated at 5 million feet per day. That is 5000 mcf, which at $13/mcf is $65,000 in revenues per day. I think that makes for easy loan payment capability. Every 15.3 days they have $1 million. If the short term plan was to drill the two deep wells, at $5mil each, and 6 weeks drilling (est's), the cashflow will pay for the drilling costs.

NR May 6-08 Blackrock is to carry MEO for $1.25 million, and "Montello is preparing a completion program for its partners to approve that includes perforating the potential gas bearing zone..." , "Completion work on the oil zone identified on the logs in the John Bowen #2 Well,... will be addressed after the completion work is conducted on the deep potential gas bearing zone at 8,275 feet."

At the AGM, Peter described how close by and easy the route to connecting to the main trunk line, that's about 1 mile away.

That's what I expect to hear about (not necessarily want to hear about) in the next NR, which is now overdue, so this coming week will work well.