Mr. Patrick Montalban reports

MOUNTAINVIEW ENERGY LTD. ANNOUNCES SIGNIFICANT 2013 YEAR END RESERVES GROWTH

Mountainview Energy Ltd. has had significant 2013 year-end reserve growth, highlighting success at the 12 Gage Three Forks play, for the year ended Dec. 31, 2013. Selected reserve information is outlined as follows and should be read in conjunction with Mountainview's coming audited financial statements, and related management discussion and analysis, which will be made available for review under Mountainview's SEDAR profile. Mountainview's reserves were evaluated by Cawley Gillespie & Associates Inc. (CG&A), effective Dec. 31, 2013, in accordance with National Instrument 51-101, Standards for Disclosure for Oil and Gas Activities, of the Canadian securities administrators. All of the company reserves were evaluated in the CG&A report. All dollar figures are in U.S. dollars unless otherwise specified.

2013 year-end reserve highlights:

• Increased total proved-plus-probable reserves by 14.9 times to 11,466,000 barrels of oil equivalent (88 per cent liquids) and total proved reserves by 14.7 times to 6,776,200 barrels of oil equivalent (88 per cent liquids);
• Increased proved-plus-probable reserves per basic share by 13 times;
• Increased proved-plus-probable, before-tax net present value, discounted at 10 per cent, by 844 per cent to $103.5-million;
• Increased proved-plus-probable, before-tax net present value, discounted at 10 per cent, per share basic by 718 per cent to $1.18;
• Achieved proved-plus-probable finding and development cost of $26.19 per barrel of oil equivalent, including changes in future development capital;
• Achieved a proved-plus-probable recycle ratio of 1.42 times, based on a finding and development cost of $26.19 per barrel of oil equivalent and a 2013 fourth quarter field netback of $37.06 per barrel of oil equivalent;
• Increased reserve life index (RLI) to 15.7 years (total proved) and 26.6 years (proved plus probable) based on 2013 fourth quarter production of 1,183 barrels of oil equivalent per day, compared with 6.2 years (total proved) and 10.3 years (proved plus probable) based on 2012 fourth quarter production of 205.2 barrels of oil equivalent per day;
• Reserve additions in 2013 of 10,969,000 barrels of oil equivalent replaced annual corporate production 40.1 times;
• Successful initial drilling results and associated booking of future locations on Mountainview's 12 Gage Three Forks light oil play have attributed 10,277,000 barrels of oil equivalent (89 per cent liquids) or 94 per cent of the 10,969,000 barrels of oil equivalent proved-plus-probable reserves additions in 2012. The eight drilled and booked locations (6.6 net) at 12 Gage represent approximately 10 per cent of the original inventory of net locations, with 72 net undrilled locations remaining;
• There were no acquisitions in 2013; all reserve increases were achieved through the drill bit;
• 100 per cent of reserves evaluated by CG&A as per NI 51-101 standards.

                                       Gross                     Before-tax net present value
Reserve category         Light oil          Gas       BOEs          discounted at 10 per cent
                         (000s bbl)       (mmcf) (000s boe)                            ($000s)
Proved
Developed producing        2,064.9      2,049.5    2,406.5                       $   49,721.6
Undeveloped                3,898.1      2,829.3    4,369.7                       $   26,192.7
Total proved               5,963.0      4,878.8    6,776.2                       $   75,914.3
Probable                   4,178.0      3,071.7    4,689.8                       $   27,588.3
Total prove
and probable              10,141.0      7,950.5   11,466.0                       $  103,502.6

Mountainview Energy president and chief executive officer Patrick Montalban commented: "The oil and gas reserves have increased 15 times year over year, which is a testament to the hard work and expertise of the team at Mountainview. We have grown our reserve value by over 800 per cent, supporting our view that the 12 Gage project is a tremendous asset, a company builder. We look forward to further growth as we continue to develop the Three Forks and begin to develop the Bakken in Divide county, North Dakota. We will continue to focus on improving development and production costs as we refine operations in the field."

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