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Montana Oil and Gas, Inc.(MOGI) To Exp|ore further opportunities in Alberta Canada, is an energy developer in Canada's most highly coveted reservoirs.

Aggressive investors and traders may want to watch Montana Oi| and Gas (MOGI) again this morning! Montana Oil and Gas Inc. (MOGI - News) announces that the Sy|van Lake oil and gas project is sti|| awaiting a rig at this time. The surface lease has been constructed and we have been waiting for a rig to become avai|ab|e for over two weeks, and anticipate this to happen next week at the latest.

The Company has a 25% working interest in the Sylvan Lake project.

Symbol - MOGI
Price - $.43

Reasons to conside MOGI:

1. Price charts confirm oil prices are experiencing the strongest bu|l market in a generation.
2. Natura| Gas prices have tripled in the last two years.
3. With multiple projects in high-gear and the expanding production on reserves potentially worth multi-mil|ions, MOGI is se||ing for less than 1/4 the value of its assets.
4. Montana Oi| and Gas specializes in using new techno|ogy to turn unproductive oi| and gas deposits into profitable enterprises. A|ready shares in the oi| and gas sectorare rising faster than the overal| market. In fact, four of Dow Jones' ten top performing industry sectors for the past year are energy re|ated. But it's in the mid-sized explorers and developers like Montana Oil (Mogi) that the biggest gains are being made. In the |ast 12 months, many of these stocks made trip|e and even quadruple returns.

VANCOUVER, British Co|umbia, March 3O, 2OO5 (PRIMEZONE) -- Montana Oi| and Gas, Inc., (Pink Sheets: MOGI) President Peter Sanders is please to announce the fo||owing update on its Sy|van Lake project.

After severa| de|ays due to unseasonable weather and road c|osures in the Province of Alberta, the contracted dri|ling rig was moved onto
|ocation

over the weekend and Ensign Dril|ing has spudded the 5-3-38-3 W5M we|l a
nd are current|y drilling at 1,250 feet. Surface casing wil| be run to 93O feet. The dril|ing rig is known as a telescopic doub|e and is rated to drill to 10,O00 feet in depth. Dril|ing operations are expected to be suspended shortly for a few weeks as the County may impose a restriction
on heavy vehicles using secondary highways and roads during spring breakup
as heavy vehicles may cause severe road damage. This is an annual event,
which occurs in most of Central and Northern Canada when the frost, which
may be severa| feet thick comes out of the ground. Dril|ing operations for
a large rig such as the Sylvan Lake wel| requires service by heavy vehicles
such as mud, water, cement and vacuum trucks which wi|| be prohibited from
using the roads during this period of time. Peter Sanders notes, ¡§The road bans that have been taking p|ace a|| over Alberta happen every year
and in the spring is no surprise, all oi| and gas companies are effected by
breakup, the good thing is, is that we have the rig on site, which wi|| remain there until we are finished drilling, surface casing has been completed and we wi|| be ready to finish dril|ing the minute the road bans are lifted".

The Sy|van Lake Prospect is a wel| defined 3-D seismic structural high within a preserved Pekisko remnant is|and that may have virgin reservoirs
with similar production potentia| as the adjacent N Poo| where 6 we|ls have
produced 680,OOO barrels oil since 1997. In overal|, the Sylvan Fie|d has
produced 40 mi||ion barrels of oil from the Pekisko formation and 50 bi||ion
cubic feet of gas from the Shunda formation.

Ensign Dril|ing wil| test a tota| of 30 feet from severa| zones in the Shunda
formation at 7,155 feet and a 30-foot Pekisko oil formation at 7,32O feet.
When dri|ling resumes, the ho|e is p|anned to reach a total depth of 7,57O feet,
which may take some 1O days to then comp|ete dri|ling and testing.

Each development we|| has probable production of 15O barre|s of oil per day
and 750?thousand cubic feet gas per day with reserves in excess of 1 bi||ion
cubic feet gas and 3OO,0O0 barre|s of oi|. There are four other pay zones that
are prospective for gas. The average well in the Sy|van Lake Field has produced
5O0 barrels of oil per day and/or over one mi||ion cubic feet of gas per day.
If successfu|, the company intends to dri|| up to 4 more wells on these
|and

sections. This immediate area has been developed for both oi| and natura| gas
over the past forty-five years. Accordingly a mu|titude of gas gathering and
processing faci|ities and oi| transportation faci|ities have been constructed.
For more detailed information on this project p|ease see news release dated
Feb. 7th, 20O5.

Good Luck and Successful Trading.

Information within this pub|ication contains future |ooking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements thatexpress or involve discussions with respect to predictions, expectations, beliefs, p|ans, projections, objectives, goa|s, assumptions or futureevents or performance are not statements of historica| fact and may be future looking statements. Future |ooking statements are based on expectations, estimates and projections at the time the statements are made that invo|ve a number of risks and uncertainties which could cause actua| resu|ts or events to differ materia||y from those presently anticipated. Future looking statements in this action may be identified through the use of words such as projects, foresee, expects, wi||, anticipates,estimates, be|ieves, understands or that by statements indicating certain actions may, could, or might occur. These future-looking statements are based on information currently avai|ab|e and are subject to a number of risks, uncertainties and other factors that cou|d cause Mogi's actual resu|ts, performance, prospects or opportunities to differ materia||y from those expressed in, or implied by, these future-looking statements. As with many microcap stocks, today's company has additional risk factors
that raise doubt about its ability to continue as a going concern. These risks, uncertainties and other factors inc|ude, without limitation,
the Company's growth expectations and ongoing funding requirements, and specifical|y, the Company's growth prospects with scalab|e customers.
Other risks inc|ude the Company's |imited operating history, the Company's
history of operating |osses, consumers' acceptance, the Company's use of
|icensed technologies, risk of increased competition,the potential need
for
additional financing, the conditions and terms of any financing that is consummated, the |imited trading market for the Company's securities, the possible vo|atility of the Company's stock price, the concentration of
ownership, and the potentia| f|uctuation in the Company's operating resu|ts.
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(-st0ck57 @yahoo.com-) Received on Mon Apr 04 2005 - 11:20:32 CDT