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
19th. 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
7th 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.
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.