Mountainview Energy Ltd. provides operational update on its 12 Gage Project in the Williston Basin

CUT BANK, MT, July 9, 2013 /CNW/ - Mountainview Energy Ltd. (TSXV: MVW.V) ("Mountainview" or the "Company") is pleased to provide an operational update on the current drilling program in the Williston Basin and the current production rates for those wells completed during the winter drilling program.

Heckman 7-6-1H, Section 7 & 6 T162N-101W, Divide County, North Dakota

Mountainview moved in Nabors 272 and commenced drilling operations on the Heckman 7-6-1H well (the "Heckman Well"), the first Three Forks well of Mountainview's planned three well summer drilling program on its 12 Gage Project. The Company spudded and drilled to 1345' and successfully cemented 9 5/8" surface casing on the well.  Sanjel Corp. was the service Company who completed the cementing operations.  The Company is currently drilling at 3600' on the well, which has a planned total depth of 18,270'.  The Company plans to use a 26-stage, plug and perforate frack stimulation, as performed on its previous 3-well program.

Olson 2-11S-1H, Section 2 & 11 T162-101W, Divide County, North Dakota

The Company's second Three Forks well of its summer drilling program is the Olson 2-11S-1H well (the "Olson 2 Well").  The well has been permitted and the Company plans to use the same location and road as the Olson 34-26-1H well, which will provide significant cost savings in the drilling and completion stages of this well.  The Company plans to drill the Olson 2-11S-1H well to a total depth of 18,450'.

Charolette 1-12-1H, Section 1 & 12 T162-R101W, Divide County, North Dakota

The third well planned for the summer drilling program is the Charolette 1-12-1H  (the "Charolette Well").  The Charolette well is in the process of being permitted.  This well is a direct eastern offset to the Olson 2-11S-1H well.

The following list details the Company's operated wells in the 12 Gage Project:

			Well Name			Working Interest			Current Status
			Wigness 5-8-1H			93.75%			June Average Production - 186 boe/d
			Leininger 3-10-1H			87.51%			June Average Production - 227 boe/d
			Olson 35-26-1H			62.27%			June Average Production - 213 boe/d
			Heckman 7-6-1H			90.26%			Drilling at 3600'
			Olson 2-11S-1H			70.26%			Permitted & Location built
			Charolette 1-12-1H			30.23%			Permitting

Management's Comments

Patrick Montalban, President & CEO of Mountainview Energy commented on the current drilling program: "The Company is extremely excited about its 2013 summer drilling program.  Mountainview expects to significantly reduce drilling and completion costs during its Summer program in comparison to its Winter  program, as we are not dealing with subzero temperatures.   In addition, with the hiring of Justin Balkenbush, VP of Engineering, we will be reducing our consulting costs, as all operations conducted by our VP of Engineering out of our Billings office.  The company has more than quadrupled its operated production from a daily average of 130 boe/d in May 2012 to 787 boe/d in May 2013, and will continue to increase its daily production after completing the current summer program.  The Company is growing at a significant pace due to the large Working Interest (Company ownership) position held on the wells being drilled."

About Mountainview

Mountainview Energy Ltd. is a public oil and gas company listed on the TSX Venture Exchange, with a primary focus on the exploration, production and development of the Bakken and Three Forks Shale in the Williston Basin and the South Alberta Bakken.

Forward-Looking Statements

Certain information contained in this press release constitutes forward-looking statements, including, without limitation, information related to the use of proceeds from the Facility, the intention to complete the three-well summer drilling program, the contents of certain documents related to the Facility, potential drilling locations, Mountainview's operational plans and the timing of operations on certain wells.  By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's control including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, competition from other industry participants, the lack of availability of qualified service providers, personnel or management, stock market volatility and ability to access sufficient capital from internal and external sources, inability to meet or continue to meet listing requirements, the inability to obtain required consents, permits or approvals and the risk that actual results will vary from the results forecasted and such variations may be material.  Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company's actual results, performance or achievement could differ materially from those expressed in or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive therefrom.

The forward-looking statements contained in this press release are made as of the date of this press release.  Mountainview disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Additionally, Mountainview undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.

The forward-looking statements contained in this press release are made as of the date of this press release.  Mountainview disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Additionally, Mountainview undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

SOURCE: Mountainview Energy Ltd.

Patrick M. Montalban, President & Chief Executive Officer
Address: PO Box 200, Cut Bank, MT 59427
E-Mail: [email protected]
Web Site: www.mountainviewenergy.com
Fax: [phone]