MEO Montello Resources Ltd (Tier2)

Montello Resources Ltd. (TSX VENTURE:MEO) ("Montello") as Operator of the Morgan
Highpoint Project is pleased to announce that the analysis and interpretation
work has now been finished with respect to the cased hole logs that were
recently run by Schlumberger on the John Bowen # 1 and #2 Wells.


The John Bowen # 2 logs confirm that there is a potential gas zone at 8,275 feet
in the Rome formation that has approximately 17 feet of interpreted net pay.
This potential gas zone has never been produced in the State of Tennessee as no
wells have been cased for production to this depth in Tennessee prior to
Montello et al drilling the John Bowen #2 Well. The JV Partners are pleased to
finally get confirmation that the logs on the John Bowen #2 Well confirm the
presence of gas which is consistent with what was seen in samples as well as
what was recorded on the gas detector at the 8,275 foot level when the well was
drilling. Although it is premature to say what kind of reserves there may be
attributable to the John Bowen #2 Well or what production rates may be achieved,
we are anticipating that there may be significant pressures and flow rates
encountered based upon how deep the zone is.


Montello is preparing a completion program for its partners to approve that
includes perforating the potential gas bearing zone of interest and then
stimulating it, depending on the flow rates that are achieved. Preliminary
discussions have been held with field personnel with respect to delivering gas
from the John Bowen #2 Well into Spectra's East Tennessee pipeline system that
is located approximately 1 mile away from the John Bowen #2 Well. Montello has
been informed that there is significant excess capacity available and that the
pipeline is part of the main gas transmission system that runs across the United
States. Montello views this potential gas discovery as the opening up of another
play fairway for the Company and its partners in Tennessee which would
complement the recently announced oil discovery in the Morgan Highpoint #3 Well.


Completion work on the oil zone identified on the logs in the John Bowen #2
Well, which is the same zone from which the Morgan Highpoint #3 Discovery Well
is currently producing from, will be addressed after the completion work is
conducted on the deep potential gas bearing zone at 8,275 feet.


In addition, now that the cased hole logs that were recently run by Schlumberger
on the John Bowen #1 Well have been analyzed and interpreted, the JV Partnership
is reviewing potential re-completion options in the fractured interval that was
identified and never previously perforated. Prior to Montello having
Schlumberger run the cased hole logs on this well, there were no modern logs
available to analyze as to how best to re-complete the well. Based on the
interpretation of the logs that Montello now has on both of the John Bowen Wells
and the Morgan Highpoint #3, #4 and #5 Wells, it is believed that the John Bowen
#1 and the other wells are in close proximity to a high pressure fracture
regime. The Partnership is therefore reviewing directional drilling methods to
better identify the fracturing in an effort to extract higher volumes that have
been previously encountered in the area.


Montello is further pleased to announce that the Company is in the process of
finalizing an arrangement with Blackrock Petroleum Corp. pursuant to which
Blackrock Petroleum will carry Montello for a total of $1.25 million in future
costs attributable to Montello's interest in the Morgan Highpoint Project, in
exchange for being assigned a 15% interest in and to the John Bowen #1 and # 2
Wells along with the outright ownership of both a 15% interest, in and to the
surface rights and mineral rights underlying the 110 acres comprising the Bowen
Lands as well as a 15% interest in and to the lease applicable to the 50 acres
which comprise the spacing unit for the John Bowen #2 deep well-bore,
hereinafter collectively referred to as the "Bowen Assets". At such point in
time as closing occurs, which is contemplated to occur within 14 days, ownership
in and to the Bowen Assets will be 40% Montello, 40% Austin Developments Corp.,
15% Blackrock Petroleum and 5% Park Place Energy Corp.


To avoid the potential for any competitive drainage issues amongst the JV
Partners going forward, Montello and Austin have further agreed to grant to
Blackrock Petroleum after the oil and gas zones identified on the John Bowen #1
& #2 Well logs have been tested, a right of first refusal to acquire at fair
market value, based on a complete engineering evaluation, a further 5% interest
from Montello and a 10% interest from Austin in and to the Bowen Assets where
the ownership in the Bowen Assets could become Montello 35%, Austin 30%,
Blackrock Petroleum 30%, and Park Place Energy 5%. The JV Partners have also
agreed to enter into a 10 mile Area of Mutual Interest (AMI) outside of the
Bowen Assets, where the participation rights will be Montello 35%, Austin 30%,
Blackrock Petroleum 30%, and Park Place 5%.


Having a mechanism in place for there to eventually be common ownership
throughout the Morgan Highpoint Project will be beneficial to all parties as any
potential issues relating to the timing of drilling or completing wells or
allocation of costs pertaining to the various land holdings and production
facilities will be minimized. Avoiding the potential for any competitive
drainage issues amongst the JV Partners going forward, was paramount to this
agreement being reached at the JV Partners Meeting of April 11, 2008. The JV
Partners are encouraged with results achieved to date on the Morgan Highpoint
Project and look forward to announcing completion plans in due course.


About Montello Resources Ltd.

Montello Resources Ltd. (TSX VENTURE:MEO), http://www.montello.com is an
emerging, publicly traded company listed on the TSX Venture Exchange in Canada.
Montello is pursuing shallow oil and gas opportunities in Northern Alberta,
engaged in deep high impact drill projects in southern Alberta, as well as high
impact oil and gas exploration "hunting for elephants" in the Tennessee
Appalachians.


ON BEHALF OF THE BOARD OF DIRECTORS

William R. (Bill) Cawker, President-CEO

For further information contact Montello Resources Ltd.: Larry Myles
lmyles@montello.com 1-604-408-7600 or William (Bill) Cawker President - C.E.O.
bill_cawker@montello.com. All prospective and current shareholders of Montello
Resources are invited to join the company's official investment forum
exclusively at Pinnacle Digest: http://www.pinnacledigest.com/company/meo:ca.
The forum allows for investor controlled discussion, questions and progressive
feedback from other shareholders and investors. Third party reports on the
company are also available at www.pinnacledigest.com. Please also go to
www.sedar.com for a detailed list of all filings.


Reader Advisory: This news release contains certain forward-looking statements,
including management's operations and capital expenditures and the timing
thereof, that involve substantial known and unknown risks and uncertainties,
certain of which are beyond the Corporation's control. The Corporation's actual
results, performance or achievements could differ materially from those
expressed in, or implied. Investors are cautioned that forward-looking
statements are inherently uncertain and involve risks and uncertainties that
could cause actual results to differ materially. There can be no assurances that
future developments affecting Montello will be those anticipated by management.
Furthermore any forward-looking statements contained in this news release are
made as at the date of this news release and the Corporation does not undertake
any obligation to update publicly or to revise them whether as a result of new
information, future events or otherwise, except as may be required by applicable
securities laws. We Seek Safe Harbor.


"BOEs may be misleading, particularly if used in isolation. A BOE conversion
ratio of 6 Mcf: 1bbl is based on an energy equivalency conversion method
primarily applicable at the burner tip and does not represent a value
equivalency at the wellhead."

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