Preheat oven to Roast at 350 degrees.
Remove Prime Rib roast from refrigerator and allow to it to come to room temperature. (20-40 minutes).
Brush roast with olive oil.
Rub Montreal Steak Seasoning into roast covering top and ends well.
Place in roasting pan on a roasting rack.
Place roast in oven. Roast at 350 degrees for 2 hrs, 30 minutes for medium rare. Using an instant read thermometer check the internal temperature of the roast. (For medium rare I prefer the internal temperature of 145 degrees.) Remove from oven and cover with aluminum foil. Let stand for 15 minutes before slicing. (The internal temperature will rise to 150 degrees)