Mountainview Energy Ltd announces initial production test of 557 boe/d on its Leininger well in the Williston Basin

Tue Mar 19, 2013 8:02pm EDT

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TORONTO,  March 19, 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:

* 
The Company installed an artificial lift system 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.  The Wigness well, which was put on production
 on  February 16, 2013, has produced intermittingly because of gas lock
 issues and the Company is currently evaluating options to curtail this
 problem. During this period of time the well produced for 7 days and
 averaged 396 bopd, 195 mcfd, and 748 bwpd.   The peak production rate
 on the Wigness well was 613 bopd, 383 mcfd and 1,547 bwpd.


* 
The Leininger 3-10-1H well (the "Leininger Well"), the second horizontal Three
Forks well in Mountainview's three-well
 winter drilling program, flowed for three days during the completion
 program at an average rate of 380 bopd, 230 mcfd, and 1,088 bwpd.  The
 Company proceeded with the completion program by moving a service rig
 onto the well and milled out the 25 bridge plugs from the plug and perf
 fracture stimulation.  After cleaning the well out properly the Company
 installed an artificial lift system and placed the well on production
 on  March 14, 2013.  Since the well has been on production it has
 averaged 348 bopd, 636.5 mcfd, and 772 bwpd.  The peak production rate
 on the first day of production was 557 boe/d, comprised of 427 bopd,
 838 mcfd, and 1,004 bwpd.


* 
Mountainview has completed the 26 stage plug and perf fracture
 stimulation on the Olson 35-26-1H well (the "Olson Well"), the final horizontal
Three Forks well in its three-well winter
 drilling program, which is located approximately 2-3 miles north-east
 of the Leininger Well.  The Company commenced the completion program
 and a service rig milled out the 25 bridge plugs from the plug and perf
 fracture stimulation.  After completing the clean-out of the well, the
 Company plans to install an artificial lift system and place the well
 on production.

Through its wholly-owned subsidiary Mountain Divide, LLC ("Mountain  Divide"),
Mountainview holds: (a) 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; (b) an 87.51%
 working interest in the Leininger Well, 3.12% 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; and (c) a 62.27% working interest in the Olson Well,
 16.37% 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 Mountain
Divide'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,
 the Leininger Well and the Olson Well are situated) are subject to a
 39% after pay-out net profits interest held by Mountain Divide's lender
 under the Facility.  These 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.


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. 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, the expected date of
 operations on the Company's properties and other matters.  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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