VANCOUVER, B.C., July 19, 2006 ~ Mont Blanc Resources Inc. (TSX-V: MTN) confirmed today that three of the Company¹s six recently drilled wells have flowed sweet gas at commercially viable rates following initial completion activities.
Inflow results from the deeper zones that were initially completed in the remaining three wells are still being evaluated. In due course, the Company expects to recomplete one of these wells in the same uphole zone that was completed in the previously mentioned successful wells.
The Company and its partners are encouraged by these results and are currently assessing tie-in options and gas gathering infrastructure requirements to get the successful wells on production and accommodate production from future development drilling locations.
Under the terms of its farm-in deal, Mont Blanc has a 50% interest in the six recently drilled farm-in wells (reverting to 25% after payout) and, following completion activities, will have earned a 25% interest in over eight sections (5,120 gross acres) of land. The completion results to date indicate that most of this acreage is prospective for a low risk, multi-well shallow gas development drilling project.
Over the coming weeks the company will provide further development details and specify the timing of production, provide production data and indicate the number of wells to be drilled in the development program.
About Mont BlancMont Blanc (www.montblancresources.com) is an oil and gas exploration company focused on participating in low to medium risk oil and gas opportunities.
Mr. Lindsay CarswellCorporate Development and Investor Relations604-601-2079
Mr. Jens BiertumpelCEO604-642-6165
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Any statements regarding the company's future financial position, revenues, earnings, plans and objectives are forward-looking statements. Mont Blanc will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian Securities regulatory authorities by Mont Blanc. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents herein.
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