MOUNTAINVIEW ENERGY LTD (the “Company”) a Canadian Public Company listed on the TSX VENTURE EXCHANGE today announced that it has completed the purchase of the Judith River/Shannon Project in Carter County, Montana. This is a lease acquisition with exploratory wells proposed on 61,895.15 Net Acres located in the Southeast corner of Montana. This acreage was acquired at the purchase price of $1.00 per Net Acre.
The prospective zones in this area are the Judith River and the Shannon Sandstone, which are lower members of the Eagle Formation. The Judith River is a marine-bar sand with generally good porosity and is composed of laminated, silty shales. The Judith River develops gas accumulations on structural highs. The Shannon is also a wide spread marine sandstone covering many Townships south of the Cedar Creek Anticline and produces at the Pumpkin Creek and the Liscom Creek Fields to the west.
Through recently acquired seismic lines and further analysis of well log information from the Bird No. 1, which penetrated 70 feet of anomalously clean sand in the Judith River and 8 feet of clean sand in the Shannon Sandstone. Both zones of interest pinch-out up dip to the southwest. By studying the seismic information and the open hole log of the Bird No. 1 well, it appears that these zones are gas bearing.
The primary objective is in the Judith River Sandstone with a secondary prospect in the Shannon. The Shannon underlies the Judith River with both formations appearing to trend from the northwest to the southeast. The entire Eagle section will be evaluated in this prospect, which could result in other intervals being gas bearing.
This prospect represents a significant, conventional shallow gas opportunity. A significant acreage position has been acquired and the project is expected to be drilled and tested with our future exploratory drilling program.
The Management of MOUNTAINVIEW ENERGY LTD is very optimistic about the exploration potential of this acreage block. The Company’s Geological and Engineering Staff are studying the prospect and will be selecting locations to be drilled later this Fall.
MOUNTAINVIEW ENERGY LTD
J.V. Montalban, Chairman of the Board
President & Chief Executive Officer
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