Mountainview Energy Ltd. Provides Operational Update on its 12 Gage Project in the Williston Basin

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Aug 13, 2013, 10:29 ET

CUT BANK, MT, Aug. 13, 2013 /PRNewswire/ - Mountainview Energy Ltd. (TSXV: MVW.V) ("Mountainview" or the "Company") is pleased to provide an operational update on the current drilling program in the Williston Basin.

Heckman 7-6-1H, Section 7 & 6 T162N-101W, Divide County, North Dakota

Mountainview completed drilling operations on the Heckman 7-6-1H well (the "Heckman Well"), the first Three Forks well of Mountainview's planned three-well summer drilling program on its 12 Gage Project. The Heckman Well successfully reached a Total Depth of 18,165' in 19 days. The site is currently being prepared for the 26 stage Plug and Perf Fracture Stimulation, which is planned for the week of August 19^th. Good geologic oil and gas shows were encountered while drilling the lateral and the well was drilled under budget by Nabors Rig No 272.

Olson 2-11S-1H, Section 2 & 11 T162-101W, Divide County, North Dakota

The Company's second Three Forks well of its summer drilling program is the Olson 2-11S-1H well (the "Olson 2 Well"). The well was spudded at 11pm on August 7^th and the Company successfully ran 1,435' of 7" surface casing. The Olson well is being drilled on a dual pad with the Olson 35-26-1H well, which will provide significant cost savings due to the use of the same location and road.

Charlotte 1-12-1H, Section 1 & 12 T162-R101W, Divide County, North Dakota

The third well planned for the summer drilling program is the Charlotte 1-12-1H (the "Charlotte Well"). The Charlotte well is permitted and we are currently constructing the location. This well is a direct eastern offset to the Olson 2-11S-1H well.

Management's Comments

Patrick Montalban, President & CEO of Mountainview Energy commented on the current drilling program: "We are pleased to announce the commencement of our 2013 Summer Drilling Program and to report the successful drilling of the Heckman 7-6-1H." "We are confident that we will be able to drill the three wells in this program under budget and optimize production through the knowledge obtained during the 2012 Winter drilling program."

About Mountainview

Mountainview Energy Ltd. is a public oil and gas company listed on the TSX Venture Exchange, with a primary focus on the exploration, production and development of the Bakken and Three Forks Shale in the Williston Basin and the South Alberta Bakken.

Forward-Looking Statements

Certain information contained in this press release constitutes forward-looking statements, including, without limitation, information related to the status of operations on Mountainview's three-well summer drilling program. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's control including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, competition from other industry participants, the lack of availability of qualified service providers, personnel or management, stock market volatility and ability to access sufficient capital from internal and external sources, inability to meet or continue to meet listing requirements, the inability to obtain required consents, permits or approvals and the risk that actual results will vary from the results forecasted and such variations may be material. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company's actual results, performance or achievement could differ materially from those expressed in or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive therefrom.

The forward-looking statements contained in this press release are made as of the date of this press release. Mountainview disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Additionally, Mountainview undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Mountainview Energy Ltd.