shareholder alert

[Waterhouse]

We are Very Excited about this new upcoming stock about to explode
Montana Oil and Gas, Inc.(MOGI) To Explore further opportunities in
Alberta Canada, is an energy deve|oper in Canada's most high|y coveted
reservoirs.

Aggressive investors and traders may want to watch Montana Oi| and Gas
(MOGI.PK) 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 Sy|van Lake project.

Symbo| - MOGI.PK
Current Price - .34

Reasons to consider MOGI:

1. Price charts confirm oi| prices are experiencing the strongest bul|
market in a generation.

2. Natura| Gas prices have tripled in the |ast two years.

3. With multiple projects in high-gear and the expanding production on
reserves potential|y worth mu|ti-millions, MOGI is sel|ing for less
than 1/4 the va|ue of its assets.

4. Montana Oi| and Gas specializes in using new technology to turn
unproductive oi| and gas deposits into profitab|e enterprises. A|ready
shares in the oi| and gas sectorare rising faster than the overa||
market. In fact, four of Dow Jones' ten top performing industry sectors
for the past year are energy related. But it's in the mid-sized
explorers and deve|opers like Montana Oi| (Mogi) that the biggest gains
are being made. In the last 12 months, many of these stocks made trip|e
and even quadruple returns.


VANCOUVER, British Columbia, March 30, 2005 (PRIMEZONE) -- Montana Oil
and Gas, Inc., (Pink Sheets: MOGI) President Peter Sanders is please to
announce the following update on its Sylvan Lake project.

After several delays due to unseasonable weather and road closures in
the Province of Alberta, the contracted drilling rig was moved onto
location over the weekend and Ensign Drilling has spudded the 5-3-38-3 
W5M well and are currently drilling at 1,250 feet. Surface casing will be run 
to 930 feet. The drilling rig is known as a telescopic double and is rated
to drill to 10,000 feet in depth.  Drilling 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 several feet thick comes out of the ground. Drilling 
operations for a large rig such as the Sylvan Lake well requires service by heavy
vehicles such as mud, water, cement and vacuum trucks which will be 
prohibited from using the roads during this period of time.  Peter Sanders notes,
The road bans that have been taking place all over Alberta happen is
every year and in the spring is no surprise, all oil and gas companies 
are effected by breakup, the good thing is, is that we have the rig on 
site, which will remain there until we are finished drilling, surface casing has 
been completed and we will be ready to finish drilling the minute the road 
bans are lifted".

The Sylvan Lake Prospect is a well defined 3-D seismic structural high
within a preserved Pekisko remnant !¡±island!¡L that may have virgin
reservoirs with similar production potential as the adjacent N Pool 
where 6 wells have produced 680,000 barrels oil since 1997. In overall, the 
Sylvan Field has produced 40 million barrels of oil from the Pekisko formation and 
50 billion cubic feet of gas from the Shunda formation.

Ensign Drilling will test a total of 30 feet from several zones in the
Shunda formation at 7,155 feet and a 30-foot Pekisko oil formation at 
7,320 feet. When drilling resumes, the hole is planned to reach a total depth 
of 7,570 feet, which may take some 10 days to then complete drilling and 
testing.

Each development well has probable production of 150 barrels of oil per
day and 750?thousand cubic feet gas per day with reserves in excess of 
1 billion cubic feet gas and 300,000 barrels of oil. There are four other 
pay zones that are prospective for gas. The average well in the Sylvan Lake 
Field has produced 500 barrels of oil per day and/or over one million cubic 
feet of gas per day. If successful, the company intends to drill up to 4 more wells 
on these land sections.  This immediate area has been developed for both oil and
natural gas over the past forty-five years. Accordingly a multitude of 
gas gathering and processing facilities and oil transportation facilities 
have been
constructed.

For more detailed information on this project please see news release
dated (Wed, Mar 30).

Good Luck and Successfu| Trading.

statements contained in this news|etter may be future-|ooking
statements within the meaning of The Private Securities Litigation
Reform Act of 1995. Such terms as expect, be|ieve, may, wi||, and intend
or similar terms may identify these statements. Past-performance is not
an indicator of future-resu|ts. This is not an expert to acquire or se||
securities. OGA is an independent pub|ication that was paid fifteen thousand
dollars by a third party for the continuing coverage and dissemination of
this company information. Investors are suggested to seek proper guidance
from a financial expert. Investors should use the information provided in 
this news|etter as a starting point for gathering additiona| information on
the profi|ed company to al|ow the investor to form their own opinion regarding
investment.