Majestic Oil & Gas, Inc to Drill Wildcat Oil Well in Northern Montana



    CUT BANK, Mont., Oct. 16 /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 will be drilling the Jody Field #4-1 well located
in Pondera County, Montana.
    This exploration wildcat oil well is being drilled in the NENENE-Section
4-T28N-R6W, Pondera County, Montana.  The projected depth of this oil well is
3,450 feet with the primary objective being the Madison/Sun River Dolomite.
Other potential zones of interest are the Bow Island and Sunburst Sandstones.
A wildcat well is considered to be a well that is drilled, based on a large
element of hope, in a frontier area where very little is known about the
subsurface.  However, the Company has determined that the site is located on
the upside block of a structural fault, which creates an excellent opportunity
for an oil deposit.  A study of the logs from offsetting wells showed good oil
or hydrocarbon shows in the Madison/Sun River Dolomite
    The Company owns a 25% interest in this wildcat oil well.  The well site
has been surveyed and we expect to commence drilling operations in the next
two weeks when the drilling rig becomes available.

    
     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, or
Fax,  +1-406-873- 2835, mjoag@bresnan.net Web Site:
http://www.majesticoilandgas.com/

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