Majestic Oil & Gas, Inc Successfully Drills Two Natural Gas Wells and Is Currently Moving a Rig to the Location to Drill One Wildcat Oil Well in Northern Montana



    CUT BANK, Mont., July 31 /CNW/ -- MAJESTIC OIL & GAS, INC (the "Company")
(OTC Bulletin Board:    MJOG), a United States Public Company whose securities
are qualified for quotation on the Over the Counter Bulletin Board today
announced that the Company successfully drilled the Stoltz #18-1 well located
in Pondera County, Montana, bringing the total number of successfully drilled
wells to-date to seven.  This well is the second well of a three-well drilling
program, planned by the Company.
    This natural gas well is located in Section 18-T29N-R5W, Pondera County,
Montana.  The initial production test of the Stoltz #18-1 well was 4.5 pounds
on a 1" orifice, which is 75 MCF per day.  Together with the production from
the Boucher #18-1 well, the Company has 345 MCF per day of new natural gas
production.   These results confirm that the Lake Frances Field extends to the
northwest, which proves up additional locations for drilling.  The production
interval on the Stoltz #18-1 well is 2268' to 2282', with 14 feet of total pay
zone.  The Company has plans to complete this well within the next week in
addition to constructing the pipeline necessary to connect this well to the
gathering system.
    Majestic Oil & Gas, Inc owns a 25% working interest in this well and will
release additional results once the well is completed and placed on
production.

    
    MAJESTIC OIL & GAS, INC
    

    
    "Patrick M. Montalban"
    

    
    Patrick M. Montalban, Chairman of the Board
    President & Chief Executive Officer
    

    THIS NEWS RELEASE WAS PREPARED BY MANAGEMENT. THE OTCBB DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS
    
                                   RELEASE

    




For further information:

For further information: Majestic Oil & Gas, Inc, +1-406-873-5580, Fax,
+1-406-873-2835, mjoag@bresnan.net Web Site: http://www.majesticoilandgas.com

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