Montana Exploration Corp. Announces Agreement to Acquire Joint Venture Agreement

Montana Exploration Corp. is an oil and gas exploration and production company focusing on the Shaunavon oil and Eagle gas opportunities underlying its land holdings and drilling rights in the state of Montana. The Company is engaged in the business of exploring, developing and producing conventional petroleum and natural gas reserves in Alberta and Montana. Its segments include Canadian, including Viking Kinsella, Cardiff, Killam/Sedgwick, and US, including Battle Creek, Cherry Patch, Pine Mills and White Bear. In the United States, it operates through its subsidiary, Montana Land & Exploration, Inc. It has a land base consisting of approximately 350,000 net primarily contiguous acres in Blaine County, Montana. It has a producing oil well and over 40 producing gas wells in Montana. It controls interests in approximately 26,810 gross (over 7,880 net) acres at Viking Kinsella, Alberta, including over 30 producing wells and varying interests in a gas gathering system.