Mr. Patrick Montalban reports
MOUNTAINVIEW ENERGY LTD. PROVIDES OPERATIONAL UPDATE ON ITS TWO-WELL DRILLING PROGRAM ON ITS 12 GAGE PROJECT
Mountainview Energy Ltd. is providing an update on its continuing development of the
12 Gage project in Divide county, North Dakota.
The company has increased its working interests in the Reistad 23-14-1H
and Reistad 26-35S-1H wells through lease purchases. The attached
table illustrates the updated working interests in the two-well
program.
UPDATED WORKING INTERESTS
Well name Location Previous working interest New working interest
Reistad 23 well Sec. 14 & 23, T162N-R101W, Divide county, ND 67% 92.5%
Reistad 26 well Sec. 26 & 35, T162N-R101W, Divide county, ND 78% 99.2%
The company moved Ensign rig No. 118 onto the Reistad pad located in Section
23 T162-101W and spudded the Reistad 23-14-1H. This is the company's first drilling project with a skidable rig
on a multiwell drilling pad. To date, the company
reached a total depth of 18,760 feet on the Reistad 23 well and
experienced quality gas and oil shows while drilling the horizontal
lateral, which were very similar to the company's previous wells in the
project. The company took 19 days to drill the Reistad 23 well, and
costs are currently under budget.
After finishing the Reistad 23 well, the company skidded the Ensign rig
No. 118 and started drilling the lateral for the Reistad 26-35S-1H. The company has reached a total depth of 19,030 feet
on the Reistad 26 well and again experienced quality gas and oil shows
while drilling the horizontal lateral.
Mountainview will now prepare both wells for completion. The company
plans to perform a 32-stage plug and perforation fracture treatment on
both wells simultaneously. Completion operations are scheduled to
begin in late January, 2014.
Patrick M. Montalban, president and chief executive officer, commented: "We are pleased that both wells were successfully drilled safely,
efficiently and under budget, indicating that our operational
experience gained from the first wells in the program has led to cost-efficiencies on current wells. The ability to increase our working
interest in this prospective acreage is a positive transaction for the
company, and we look forward to the upcoming fracture stimulation
operations."
We seek Safe Harbor.
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