Mountainview Energy

[dan_s]

I am keeping an eye on this Montana based Micro-Cap. I like the management team and I think they are doing things the right way. - Dan

CUT BANK, MT, Oct. 28, 2013 /PRNewswire/ - Mountainview Energy Ltd. [MVW.V] ("Mountainview" or the "Company") is pleased to provide an operational update on the 2013 summer drilling program in the Williston Basin.

Operational Update

Mountainview has now completed its second drilling program in 2013 on the 12 Gage Project. With the completion of this latest program, the Company operates 4.3 net wells (6.0 gross wells) in the project and approximately 35%-40% of the project lands are held by production. Based on field production numbers, the Company averaged 890 barrels of oil equivalent ("boe") per day ("boe/d") gross (715 boe/d net) of 90% oil for the first 15 days of October in its 12 Gage project with 4 wells producing. Overall Mountainview has seen its overall corporate production increase by 290% on both a gross and net basis since the beginning of 2013.

The Company achieved its goal of reducing drilling and completion costs from $7.5-8.0 million on its initial 2013 drilling program in the 12 Gage Project to approximately $6.5 million for the summer drilling program.

The Company is also pleased to announce that Nick Timm has joined the Mountainview team as a full time Field Supervisor for the 12 Gage Project. Mr. Timm, who was previously employed by a reputable operator in the area, brings nearly 10 years of operational field-based experience to the team.

Mountainview has increased its artificial lift capabilities on all of its operated Three Forks wells by deploying an ESP (Electric Submersible Pump) in each well. This artificial lift change in the wells has increased production in the first three wells of the 2013 drilling program by approximately 35% and is expected to have a significant positive impact on production levels for the three 'new' wells; the Heckman 7-6-1H, the Olson 2-11S-1H and the Charlotte 1-12-1H..

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

The Heckman 7-6-1H well (the "Heckman Well"), the Company's first Three Forks well of its three-well summer drilling program was drilled to a total depth of 18,165' in 19 days. A 26-stage plug and perf fracture stimulation was successfully completed and the well was cleaned out and placed on production. The milling of the plugs and clean-out of the well was accomplished in 14-days compared to the 30-days experienced with the wells during the previous program. The initial 7 day average production on this well was 532 boe/d gross (477 boe/d net) of 90% oil. The Heckman Well, which is still recovering frac load water, has produced for approximately 30 days averaging 441 boe/d gross (396 boe/d net) of 90% oil over that period. This well has exceeded Company production expectations thus far.

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

The Olson 2-11S-1H, (the "Olson 2 Well"), the Company's second Three Forks well of its summer three-well drilling program, was drilled to a total depth of 18,888' in 16 days. The Company successfully completed the 26-stage plug and perf fracture stimulation and placed the well on production on Oct. 16, 2013. The milling of the plugs and the clean-out of the wells was accomplished in 12 days. Fluid production results of the initial flowback of the well during the cleanout were very encouraging. The Company will give an update once a stable production rate is established.

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

The Charlotte 1-12-1H, (the "Charlotte Well"), the Company's third Three Forks well of its summer three-well drilling program, was drilled to a total depth of 19,000' in 14 days. Mountainview successfully completed the well with a 32-stage plug and perf fracture stimulation and flowed back the well. The Company has currently just completed the clean out operations and is starting to place the well on production. The Charlotte well is the Company's first well to be completed with a 32-stage fracture stimulation and the company still plans to meet its projected drilling and completion budget of $6.5MM on this well.

Management's Comments

Patrick Montalban, President and CEO of Mountainview said "Management is very encouraged by the success of the 2013 summer drilling program. We attribute this success to the in-house engineering staff, newly hired field superintendent and consistent consultant field supervision, who all contributed to decreasing costs and increasing operating efficiency and production. With the completion of the summer drilling program and the artificial lift enhancement operations we have undertaken, we are quickly building each of our knowledge base and operational capabilities with these assets, which will drive our daily production and reserve base for our shareholders."

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.