CUT BANK, MT, Aug. 13, 2013 /CNW/ - 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.
