Mr. Patrick Montalban reports

MOUNTAINVIEW ENERGY LTD. ANNOUNCES 2013 YEAR-END FINANCIAL RESULTS

Mountainview Energy Ltd. has released its operating and financial results for the year ended Dec. 31, 2013 (all amounts are in U.S. dollars). The company also announces that its audited financial statements, and management's discussion and analysis for the year ended Dec. 31, 2013, are available on SEDAR and on Mountainview's website.

During 2013, Mountainview continued to build its production and reserve base through the drill bit, which resulted in an increase in revenue and funds flow from operations.

Highlights of Mountainview's successful 2013 are as follows:

• Completed an organic capital program of $46.9-million, including the drilling of eight gross (4.8 net) wells at a 100-per-cent success rate;
• Increased average fourth quarter production by 510 per cent to 1,183 barrels of oil equivalent per day while increasing the oil and liquids weighting to 88 per cent from 74 per cent in the prior period quarter;
• Funds flow from operations increased by a multiple of 30.3 times year over year, with $6.5-million for the year ended Dec. 31, 2013, as compared with negative $200,000 for the year ended Dec. 31, 2012;
• Generated operating netbacks of $38.84 per boe in 2013, an increase of 23 per cent when compared with $29.14 per boe in 2012.

                                       FINANCIAL HIGHLIGHTS
                (In thousands of U.S. dollars, except per share and operating)

                                            Three months ended Dec. 31, 12 months ended Dec. 31,
                                                       2013       2012          2013       2012
Financial
Petroleum and natural gas sales                     $ 7,418    $   690       $20,527    $ 3,560
Funds flow from operations                            2,085        150         6,453       (220)
Per share basic                                        0.02          -          0.07          -
Per share diluted                                      0.02          -          0.06          -
Net income (loss)                                    (3,141)    (7,345)       (5,974)    (8,397)
Per share basic                                       (0.04)     (0.08)        (0.07)     (0.10)
Per share diluted                                     (0.04)     (0.08)        (0.07)     (0.10)
Capital expenditures                                 16,584      6,296        48,707     10,365
Net debt                                             59,244     19,804        59,244     19,804
Operating
Average daily production
Light crude oil (bbl per day)                         1,039        143           644        147
Natural gas (Mcf per day)                               864        306           632        285
Barrels of oil equivalent (boe per day, 6:1)          1,183        194           749        195
% Oil and NGLs                                          88%        74%           86%        76%
Average sales price
Light crude oil ($ per bbl)                           77.02      52.26         86.20      63.06
Natural gas ($ per Mcf)                                2.94       3.45          2.98       1.59
Barrels of oil equivalent ($ per boe, 6:1)            68.16      44.55         75.08      49.63
Operating netback ($ per boe) 
Petroleum and natural gas sales                       68.16      44.55         75.08      49.63
Royalties                                            (13.49)     (5.88)       (12.18)     (4.21)
Operating expenses                                   (20.08)    (39.33)       (24.06)    (25.09)
Operating netback                                     34.59      (0.66)        38.84      20.33
Wells drilled
Gross                                                   2.0          -           8.0        9.0
Net                                                     1.4          -           4.8        0.4
Success (%)                                             100          -           100        100

Corporate

As highlighted by the company's year-end financial and operational results, Mountainview added significant production, resulting in substantial growth in oil and natural gas sales, while also showing an increase in funds flow from operations and per boe netbacks. This is the result of strong financial discipline, and a focused and successful capital plan. The results of the 2013 capital plan further derisked the 12 Gage asset, adding a sizable infill drilling inventory with capital efficiencies associated with pad drilling.

Mountainview's strategic shift to drilling higher-working-interest wells in 2013, versus lower-working-interest wells drilled in 2012, delivered positive results evidenced by the growth in revenue and operating netbacks.

Financial

At year-end 2013, company net debt was approximately $59.2-million and the company had $39.3-million drawn on its available credit facility of $51.2-million. Funds flow from operations for 2013 increased significantly from 2012, reaching $6.5-million.

In response to exposure to volatility of differentials from West Texas Intermediate and industry concerns with respect to transportation restrictions in the Williston basin, which translated into realized prices ranging from $71.27 per barrel of oil in the first quarter to $90.61 per barrel of oil in third quarter 2013, the company has entered into a financial hedging program commencing in January, 2014. Mountainview has 30 per cent of its production hedged for Q1 2014, with a floor of $85.00 and a ceiling of $97.70. The company plans to actively manage its hedging program as its production base grows.

Operations

The company's 2013 capital plan, including all drilling operations, was focused on its core 12 Gage asset in Divide county, North Dakota. The $46.9-million capital program in 2013 included the drilling of eight wells (4.8 net), with a 100-per-cent success rate. At year-end, there were two wells (1.8 net) that had been drilled and were awaiting completion. The company has selectively increased its working interest in its assets whenever appropriate as it has become more experienced operationally. This experience has resulted in decreased capital costs on a per-well basis from $8.3-million per well to $6.3-million per well.

Outlook

Mountainview has continued to deliver on its strategy of production and reserve growth. With anticipated 2014 funds flow from operations in excess of $8-million, and available credit on its existing credit facility, Mountainview will continue to focus on the development of its core 12 Gage asset in Divide county, North Dakota.

The company will continue to pursue an aggressive growth strategy using a combination of cash flow and available credit. Recent positive movement in both oil pricing and the WTI oil differentials, combined with the company's new hedge position, allows Mountainview to remain confident in the long-term sustainability of the 2014 capital plan.

With the derisking of the 12 Gage drilling inventory, Mountainview has identified 72 infill Three Forks locations. Adding Bakken potential, there are an additional 80 drilling locations, all on the 12 Gage acreage. With 152 potential drilling locations on the 12 Gage acreage, Mountainview is strongly positioned to review acquisition opportunities to further diversify and enhance the company's commodity and play type risk.

We seek Safe Harbor.