Mountainview Energy Ltd Announces Initial Production Test of 442 Boe/d in the Williston Basin

Tue Feb 5, 2013 10:44pm EST

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TORONTO,  Feb. 5, 2013  /PRNewswire/ - Mountainview Energy Ltd. (TSXV: MVW)
("Mountainview" or the "Company") is pleased to provide an operational update on
Mountainview's 12 Gage
 Project in the  Williston  basin.


Wigness 5-8-1H, Section 5 & 8 T162N-101W,  Divide County, North Dakota


Upon completion of the successful fracing operations on the Wigness
 5-8-1H well (the "Wigness Well"), the Company's first horizontal Three Forks
well in its three-well
 winter drilling program, Mountainview conducted a 6-day production/flow
 test.  During the 6 day period the well flowed on a 32/64" choke and
 the well averaged 355 barrels of oil per day, 228 mcf of gas per day
 and 998 barrels of water per day. The peak production rate on the
 6th day was 383 barrels of oil per day, 352 mcf of gas per day and
 1,212 barrels of water per day.  The Company plans to install an
 artificial lift system in the next three to five days with a view to
 putting the well on production.



Through its wholly-owned subsidiary Mountain Divide, LLC ("Mountain  Divide"),
Mountainview holds a 93.75% working interest in the Wigness Well,
 25% of which is subject to reversion to another working interest owner
 following payout of 100% of the cost of their proportionate working
 interest costs in the well plus a 200% penalty. Pursuant to  MountainDivide's 
credit facility (the "Facility"), all of Mountain Divide's oil and gas
properties located in  Divide
 County, North Dakota  (including the lands on which the Wigness Well is
 situated) are subject to a 39% after pay-out net profits interest held
 by Mountain Divide's lender under the Facility, which payments shall
 not commence until repayment in full of the outstanding Facility and
 will automatically reduce to 20% once the lender achieves a 1.65 x
 return on investment.


Leininger 3-10-1H, Section 3 & 10 T162N-R101W,  Divide County, North
 Dakota


The completion program for Leininger 3-10-1H well (the "Leininger Well"), the
second horizontal Three Forks well in Mountainview's three-well
 winter drilling program was pushed back due to cold weather and timing
 issues with Sanjel. Completion operations on the the Leininger Well
 commenced on  February 1, 2013, with a 26-stage fracture stimulation. To
 date, the Company has successfully completed the 26 stage fracture
 stimulation and is currently moving Sanjel off location.  The Company
 will start to flow back the Leininger well on the morning of  February
 6, 2013.


Olson 35-26-1H, Section 35 & 26 T163N-R101W,  Divide County, North Dakota


Mountainview has completed drilling operations with reaching a total
 depth of 18,416' on the Olson 35-26-1H (the "Olson Well") location. The Olson
Well is the final well planned for the three-well
 winter drilling program on Mountainview's 12 Gage Project and is
 located approximately 2-3 miles north-east of the Leininger Well.  The
 Olson well was drilled in 16 days, which is the same amount of time it
 took to drill the Leininger Well. The 4 ½" frac string has successfully
 been ran in the hole and successfully pressure tested.  The completion
 program on the Olson well is scheduled to commence at the end of
 February, 2013, with a 26-stage fracture treatment and Mountainview
 will provide an update when appropriate.


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.


CAUTIONARY STATEMENTS

Initial Production Levels

Any references in this news release to initial, early and/or test or
 production/performance rates and/or "flush" production rates are useful
 in confirming the presence of hydrocarbons, however, such rates are not
 determinative of the rates at which such wells will continue production
 and decline thereafter. Additionally, such rates may also include
 recovered "load oil" fluids used in well completion stimulation. While
 encouraging, readers are cautioned not to place reliance on such rates
 in calculating the aggregate production for the Company. The initial
 production rate may be estimated based on other third party estimates
 or limited data available at this time. The initial production is
 generally estimated using boes.  In all cases in this press release
 initial production or test are not necessarily indicative of long-term
 performance of the relevant well or fields or of ultimate recovery of
 hydrocarbons.

Analogous Information

Certain information in this document may constitute "analogous
 information" as defined in National Instrument 51-101 - Standards of
 Disclosure for Oil and Gas Activities ("NI 51-101"), including, but not limited
to, information relating to the areas in
 geographical proximity to prospective exploratory lands held or to be
 to be held by Mountainview or the Borrower.  Management of Mountainview
 believes the information is relevant as it helps to define the
 reservoir characteristics in which Mountainview may hold an interest.
 Mountainview is unable to confirm that the analogous information was
 prepared by a qualified reserves evaluator or auditor. Such information
 is not an estimate of the reserves or resources attributable to lands
 held or to be held by Mountainview and there is no certainty that the
 reservoir data and economics information for the lands held or to be
 held by Mountainview will be similar to the information presented
 herein. The reader is cautioned that the data relied upon by
 Mountainview may be in error and/or may not be analogous to such lands
 to be held by Mountainview.

Forward-Looking Statements

Certain information contained in this press release constitutes
 forward-looking statements, including, without limitation, information
 related to the initial production rates of the Wigness Well, the
 expected date of operations on other wells and other operational
 plans.  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:

mvw@bresnan.net

Web Site:

www.mountainviewenergy.com

Fax: (406) 873-2835

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