Mountainview Energy Ltd. provided an operational update on its two-well drilling program. Mountainview has successfully completed the 32 stage fracture treatment on both the Reistad 23-14-1H and the Reistad 26-35-1H from the company's second multi-well pad in its 12 Gage project in Divide County, ND. The wells were stimulated simultaneously using a zipper frac leading to operational efficiencies and, thus, considerable cost savings.

These efficiencies were achieved in spite of exceptionally cold temperatures in northwestern North Dakota. A service rig has been moved onto the well pad and clean-out operations have begun on the Reistad 23 well. The Company expects to complete clean-out operations and bring the Reistad 23 well onto production before the end of February.

The service rig will then perform the same clean-out operations on the Reistad 26 well and first production is expected to commence during the first week of March. The wellhead production equipment and tankage are already installed on the well pad in preparation for first production. With six wells successfully drilled and producing to date, the Company looks forward to adding production from the two Reistad wells for a total of eight producing wells by the first week of March.

The development of the 12-Gage property continues to highlight the operational evolution of the Company, as drilling and completion costs have decreased by up to 24%. This was accomplished through the expertise of the in-house operations staff and the core group of field consultants and service companies who are focused on operational efficiencies and timely execution.