CUT BANK, MT, June 15, 2011 /CNW/ - Mountainview Energy Ltd. (TSXV: MVW) (the "Company") today announced the successful acquisition of Montana State Lands totalling 4,566 acres in the South Alberta Bakken Play; 1,381 acres in Pondera County, 1,905 acres in Teton County and 1,280 acres in Toole County. The Company is strategically acquiring certain leases that the Geologic Team considers to have the greatest geologic potential for drilling horizontal Bakken and Three Forks wells.

Together with the 57,000 acres acquired from Altamont Oil & Gas, Inc/Numbers, Inc in Pondera County, Montana, which is pending approval from the TSX Venture Exchange; the 1,680 acres of Montana State Lands acquired at the March 1, 2011 Land Sale, along with fee acreage recently acquired, amounting to 2,746.50, and existing acreage, this brings the Company's total acreage position in the South Alberta Bakken play to approximately 75,000 net  acres.

Activity in the Area

According to the BMO technical update on the Alberta Bakken there has been approximately $245MM spent on the 59 wells that have been licensed or drilled in the Alberta Bakken Play.  The technical update estimates over $500MM has been spent on establishing land positions in the play.  Companies like Newfield Exploration (NFX), Rosetta Resources (ROSE), and Anschutz Exploration have been drilling on the Montana side.  These companies have stated that they have encountered hydrocarbons in several pay zones on these wells.  Anschutz Exploration is currently drilling a well just west of Browning, Montana, south of the Canadian Board in Glacier County, Montana.   To-date, Rosetta has drilled 8 wells and is currently conducting completion operations.  Newfield has a producing horizontal oil well, being the Sheriff 1-11H, located in the South Alberta Bakken Play, Glacier County, Montana. Rosetta Resources has stated estimates of the total resource in place vary from 10 to 15 million barrels of oil equivalent per square mile.  On the Canadian side of the play there have been a couple of wells placed on production including one well announced by DeeThree Exploration that tested 291 boepd (DTX.TO).  Mountainview Energy is very encouraged with the results to date and continues to strategically add to the current acreage position.

Company Strategy

These land acquisitions align with the companies strategy to grow through acquiring more Williston Basin and South Alberta Bakken acreage; targeting the Bakken/Three Forks Shale and developing the acreage in the Company's portfolio.   We plan to drill and complete horizontal wells on the Company's existing acreage, as well as to aggressively pursue non-operated working interests in Bakken and Three Fork wells in the Williston Basin.

The Company 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 play.

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.

For further information:

"Patrick M. Montalban"

Patrick M. Montalban
President & Chief Executive Officer

Web Site:
Phone: (406) 873-2235 Fax: (406) 873-2835

Profil de l'entreprise

Mountainview Energy Ltd.

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