Montana Exploration has entered into an unsecured loan agreement with one of its creditors, Rioco Partners, Ltd, which is controlled by Montana's largest shareholder and director James Collins. The Company has received $372,000 USD to use for general corporate purposes. A 1% origination fee is payable on the loan, or $3,720 USD, bringing the loan [...]
Montana Exploration announced execution of an amended farm-in agreement with a major regional Utility to extend the time for performance of the 10 well Initial Drilling Program for approximately nine months to July 1, 2018. The Farm-in Agreement pertains to approximately 315,000 acres in Blaine and Hill Counties in the State of Montana much of [...]
Montana Exploration announces that it has filed its financial and operating results for the fiscal year ended Dec 31, 2016. Montana has filed its audited Financial Statements and related Management's Discussion and Analysis for the year ended Dec 31, 2016. Montana has also filed the disclosure and reports relating to reserves data and other oil and [...]
Montana Exploration is pleased to announce that the Corporation has completed the settlement agreements with certain of its creditors, whereby the Corporation has issued common shares of the Corporation at a deemed price of $0.195 per common share in full and final settlement of the amounts owing to such creditors. Pursuant to the Settlement [...]
Montana Exploration announced that it intends to undertake a non-brokered private placement offering of up to 1,289,603 common shares of the Company at a price of $0.195 per Common Share for gross proceeds of up to $251,472.59. A director of the Company who controls Vanco-Stock, a majority shareholder of the Company, and a family member of the [...]
Montana Exploration has entered into settlement agreements with certain of its creditors, whereby the Corporation shall issue common shares of the Corporation at a deemed price of $0.195 per common share in full and final settlement of the amounts owing to such creditors. Pursuant to the Settlement Agreements, the Corporation intends to settle an [...]
Montana Exploration announced that it has entered into an agreement with a private US-based family office group pursuant to which the Farmee will fund up to US$20 million in drilling costs in the Company's Montana oil and gas prospects. Farm-out Agreement Funds committed by the Farmee under the Farm-out Agreement will be applied primarily to drill [...]
Montana Exploration is pleased to announce that the Company raised gross proceeds of $1,496,245.34 from its previously announced offering of rights which expired on January 13, 2017. Proceeds of the Rights Offering will be applied to the Company's working capital deficiency and to fund general and administrative expenses as the Company seeks [...]
Vanco-Stock Ltd. acquired 6,776,620 common shares in the capital of Montana Exploration, for an aggregate subscription price of $1,321,440.90. The Common Shares were issued to pursuant to the terms of a rights offering circular of Montana dated Dec 6, 2016 whereby all shareholders of Montana were issued one right for each Common Share held. The [...]
Montana Exploration announced that the Company has, thus far, completed two of five vertical wells drilled and cased under the Company's current five well Montana program. The two wells were perforated and successfully swab tested for oil production from the Upper Shaunavon. Production was 100% oil and rates are expected to meet or exceed type [...]
Montana Exploration announced that it will be offering rights to holders of its common shares at the close of business on the record date of December 12, 2016, on the basis of one right for each common share held. Each 4 rights will entitle the holder to subscribe for one common share of Montana Exploration upon payment of the subscription price of [...]
Montana Exploration announced that the Company has drilled and cased each of the first three wells in the Company's current five well program directed to both oil and natural gas targets. The fourth well in the program was spudded on Nov 29, 2016. Drilling operations on the program are forecasted to be completed by mid-December. The Company will [...]