From their new releases the following sequence is noted, my comments are in italic, key dates and statements in bold:

 11/06 In late July 06 the TexFlora (John Bowen #1) With this work-over we accomplished a cased and re-perforation of the zone of interest, an acid wash and squeeze. The well responded with encouraging pressures and initial flow rates prompting the Company to acquire the Blowout lease project. The TexFlora Well was subsequently shut in and remains shut in. (they saw some good solid indicators on JB#1….they want to own it….they put a cop on it) 

4/21/07. The Company met with Lone Star Oil and Gas Inc. of Dallas, Texas registered owners of the mineral lease(s) where the blowout well occurred in 2002, and signed a Joint Venture Letter of Intent to re-drill a twin well. Due to outstanding issues which need resolution, drilling may commence here at a later date.

Montello is focused on drilling the Montello Bowen/White Unit #2 well and is negotiating for a rig capable of drilling to a depth of 10,000 feet. The first objective is to drill a vertical well to the "basement" in search of the high pressure interval present in the original Bowen Unit #1 well and which may be the same high pressure interval associated with the original Howard/White Unit #1 well that blew out. Operations believes that relocating the original drilling location from the Howard/White lease to the Bowen Unit #1 lease, with a further pooling with White, is prudent in moving this high impact exploration play to the forefront without further delay. (they are trying to identify/connect to the same high pressure zone they found in JB#1 and must be present in the original blowout HW#1…believing if found they have the pool)MDA 4/25/07. The Company owns oil and gas wells located primarily in Morgan and Scott Counties in Tennessee. At the end of June 2006, the Company focused on reworking the “Tex Flora Well. Upon re-completing and commencing evaluation for economic potential, Management felt it was prudent to immediately commence negotiations on the “Blowout Project Lands”. It was anticipated that negotiations would take two to three weeks but successful completion of this acquisition was not announced until October 10, 2006. “Tex Flora” was shut-in during the prolonged negotiation period and remains shut-in until after completion of the “Blowout Project” when it will be re-evaluated.8/9/07. Montello is and will be testing and evaluating the various formations while it drills the Test Well under-balanced. We will be using the services of an independent Geologist and Geophysicist to evaluate and analyze the logging data. (they have been using specialists all along and logging with consulting firms using specialized equipment and internet communications…this includes Strata Energy Services and Parsons systems)

8/21/07. STRATA Energy Services Inc. (www.strataenergy.net) is a Canadian Oilfield Service Company offering innovative equipment and solutions to the Energy Sector Worldwide such as for Managed Pressure and Under-balanced Drilling Services and Equipment. Its management and engineering team has been involved in over 500 wells drilled under-balanced. The Company has a strong background in all aspects of Managed Pressure and Under-balanced Drilling Operations including compression, nitrogen, surface recovery, and rotating flow diverters, to mention a few.

 

"Pason Systems Inc. is a Canadian industrial technology company headquartered out of Calgary, Alberta, providing design, manufacturing and rental of specialized drilling instrumentation systems for use on land-based drilling rigs. Pason's industry leading Internet DataHub allows the Operator to manage their current drilling activities via the Internet and more. It provides a convenient and inexpensive mechanism to store data and documents in a true electronic well file, which are then disseminated and retrieved from any location through the Internet. Pason's products and services include data acquisition, well-site reporting software, remote communications and Internet information management tools. The information pushed is extensive and includes Drilling Curves, Well Logs, and Electronic Tour Sheets and can be accessed with a standard browser from the Operator's desktop.

(and now at the bottom, now they bring Haliburtin for more logging/analysis….they have spared no expense to get here…note they planned all along that the 3 wells could be tied together…….and we wait!)