SEATTLE, Oct. 5 /PRNewswire-FirstCall/ -- Westmont Resources, Inc. (OTC Bulletin Board: WMNS) ("Westmont"), is pleased to announce it has filed its Annual Report, 10-K and accompanying audit performed by Malone & Bailey (M&B) of Houston, Texas. The filings insure that Westmont is current and includes Westmont's previously announced acquisitions of 92 oil and gas wells in the Tennessee Chattanooga Basin.

Currently, Westmont estimates the reserve valuation of its Marcellus and Chattanooga shale lease holding located in Pennsylvania, Tennessee and West Virginia to be in excess of $200 million.  Westmont is focused on "wringing value from" long-lived, low risk natural gas and oil properties. Currently the company's efforts are primarily in the emerging Marcellus and Chattanooga Shale Plays in the Appalachian Basin and in the vicinity of other major oil company discovery wells. "Our current operations are centered on acquiring existing properties and extracting greater returns than previously realized. Our core competence is to apply cutting-edge technology to squeeze more out of mature basins," said Westmont's incoming President, Glenn McQuiston.

Malone & Bailey, based in Houston, is one of the most experienced public accounting firms in the oil & gas sector and has extensive experience and expertise with publicly traded companies. The firm is registered with the Public Company Accounting Oversight Board and is an independent member firm associated TIAG and MSNA. Malone & Bailey will review and audit the SEC filings in order to bring Westmont current in its 1934 Exchange Act disclosure obligations, and perform the audits on the two target acquisitions.

"We are very happy to have an experienced and very qualified firm to bring the company current and complete the audits of our acquisitions in the Marcellus/Chattanooga shale basin," said Mr. McQuiston. "We look forward to moving forward with our business integration and planned growth strategy of acquiring additional wells such as our recently announced projects in the Marcellus in West Virginia and Pennsylvania."

About Westmont Resources

Westmont Resources is an independent natural resource and development company headquartered in Bellevue, Washington, with principal operations in the United States.  Westmont's business model emphasizes the acquisition and operation of existing producing assets, in the oil and gas industry.  As new technologies expand both the exploration possibilities and production of oil and gas in the face of ever-rising demand, obtaining peak efficiency and production from existing aging wells becomes increasingly profitable.  Westmont Resources is committed to significant growth as it pursues its strategy to combine and consolidate assets and companies in the oil and natural gas production and services sectors. Westmont believes this to be a significant growth opportunity as it follows its strategy to "roll up", combine and consolidate companies and applying cutting-edge technology to these mature assets to optimize the remaining reserves. For more information about Westmont Resources, Inc., visit the company's website at www.westmontresources.com

SOURCE Westmont Resources, Inc.

Back to top

RELATED LINKS
http://www.westmontresources.com/