MOUNTAINVIEW ENERGY LTD (the “Company”), a Canadian Public Company listed on the TSX VENTURE EXCHANGE today announced that the Company filed through SEDAR its annual materials for the year ending December 31, 2005, including its notices of and pertinent documentation for the Annual Meeting of its Shareholders to be held on June 16, 2005, as follows:
a) Annual Audited Financial Statements for the year ended December 31, 2005
b) Managements Discussion & Analysis
c) Proxy Statement & Information Circular
d) Statement of Reserves Data and Other Oil & Gas Information (Form 51-101F1 & Accompanying Form 51-102F2 & 51-101F3)
All of the above statements and forms can be viewed on the SEDAR website at www.sedar.ca.
Gross Revenues from oil sales for the period ending December 31, 2005 were $1,519,770, an increase of $491,154 over the $1,028,616 in Gross Revenues from oil sales reported in 2004. The change in the revenues between these two periods is a direct result of the increase in the price received per barrel of oil, as well as steady sales volumes, as detailed in the Managements Discussion & Analysis.
The Red Creek Field is currently producing 130 to 135 barrels of oil per day, as a result of a four-well drilling program, completed during the 1st Quarter 2006, bringing four new wells on production.
MOUNTAINVIEW ENERGY LTD
“Joseph V. Montalban”
Joseph V. Montalban, Chairman of the Board
President & Chief Executive Officer
THIS NEWS RELEASE WAS PREPARED BY MANAGEMENT.
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