An anonymous director reports

MOUNTAINVIEW ENERGY LTD. ANNOUNCES PRODUCTION RATE FOR THE OLSON 2-11S-1H OF 506 BOE/D FOR INITIAL 7 DAYS

Mountainview Energy Ltd. has provided an operational update on the 2013 summer drilling program in Mountainview's 12 Gage project in the Williston basin.

Olson 2-11S-1H, sections 2 and 11 T162-101W, Divide county, North Dakota

The Olson 2-11S-1H, the second well in the three-well summer drilling program in Mountainview's 12 Gage project in the Williston basin, was drilled by Nabors rig 272 to a total depth of 18,888 feet in 16 days. The well encountered encouraging geologic shows while drilling the lateral of 10,168 feet, which was the longest lateral the company has drilled to date. The fracture stimulation conducted was a 26-stage plug and perforation program completed successfully with the well being placed on production Oct. 16, 2013. The initial seven-day average production for the Olson 2 well, which is still recovering frac load water, was 506 barrels of oil equivalent per day gross (284 barrels of oil equivalent per day net) of 90 per cent oil. The Olson 2 well has produced for approximately 18 days averaging 483 barrels of oil equivalent per day gross (271 barrels of oil equivalent per day net to the company) of 90 per cent oil. Similar to the first well of the summer program, the Heckman 7-6-1H well, the Olson 2 well has exceeded company production expectations thus far.

Charlotte 1-12-1H, sections 1 and 12 T162-R101W, Divide county, North Dakota

The Charlotte 1-12-1H, the company's third Three Forks well of its summer three-well drilling program, is the most recent well that the company has placed on production with artificial lift. The Charlotte has only been on production for approximately five days. The company will follow up this release with another announcement of the production results for the Charlotte well.

Mountainview operational/production update

The company now has five wells from the winter and summer drilling program on production with artificial lift at a current production rates of 1,107 barrels of oil equivalent per day net. This rate does not include production from the Charlotte well. Average time from the well's spud date to first production (after fracture stimulation) was 65 days for this summer's program, a reduction of over 30 per cent from the previous program. The company's total corporate production is approximately 1,257 barrels of oil equivalent per day net.

In addition to the substantial production increase, the company has entered into a sales agreement for marketing its associated gas from its wells in the 12 Gage project and is working with a partner on a pipeline water disposal system.

Corporate presentation

Mountainview is also pleased to announce that it has posted an updated corporate presentation on its website.

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