06:04:37 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Mountainview Energy Ltd
Symbol MVW
Shares Issued 59,108,150
Close 2012-02-03 C$ 0.305
Market Cap C$ 18,027,986
Recent Sedar Documents

Mountainview's Olson 1-21-16H produces 300 boe/d

2012-02-06 08:11 ET - News Release

Mr. Patrick Montalban reports

MOUNTAINVIEW ENERGY LTD. PROVIDES OPERATIONAL UPDATE

Mountainview Energy Ltd. has spudded the Zuma 15-22-35-58H well. This well, which is a horizontal Bakken/Three Forks well located in Section 15-T35N-R58E, Sheridan county, Montana, is operated by Samson Resources Co. The company has acquired approximately a 9.75-per-cent working interest in this well.

Mountainview is also pleased to report that the Olson 1-21-16H well has had a 30-day production rate of approximately 300 barrels of oil equivalent per day from the Middle Bakken formation. Mountainview owns a 12.5-per-cent working interest in this well. This production comprised 90 per cent oil and 10 per cent gas. The Olson 1-21-16H is a horizontal Bakken well located in Roosevelt county, Montana, and is operated by G3 Operating LLC, a subsidiary of GeoResources Inc., a public company traded on Nasdaq.

The company's current non-operated wells in the Williston basin are shown in the accompanying table.

Operator                    Well name/location                      Well status    MVW's interest

G3 Operating                    Olson 1-21-16H                        300 boe/d              12.5%
Samson Resources             Zuma 15-22-35-58H                          Spudded              9.75%
SM Energy                        Wolter 13-23H      Confidential list (March 12)              3.8%
Petro Hunt             Miller 157-101-12C-1-1H                          Spudded              0.78%
Hess                            Strahan 15-22H                              TBD              0.78%         

Company strategy

The company's strategy is to grow through acquiring more Williston basin acrrage, targeting the Bakken/Three Forks shale and developing the acreage in the company's portfolio. Mountainview plans to drill and complete horizontal wells on the company's existing acreage, as well as aggressively pursue non-operated working interests in Bakken and Three Fork wells in the Williston basin.

We seek Safe Harbor.

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