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MOUNTAINVIEW ENERGY LTD (the “Company”), a Canadian Public Company listed on the TSX VENTURE EXCHANGE today announces that Joseph V. Montalban, Chairman of the Board, President & Chief Executive Officer, an Insider and Control Person, will be making a distribution of 500,000 shares of Mountainview Energy Ltd at $0.65 per share, in order to comply with the regulations of the TSX Venture Exchange regarding the number of public Shareholders required to maintain listing.

The Company also announces today that effective Monday, October 16, 2006, Joseph V. Montalban is stepping down as President & Chief Executive Officer of Mountainview Energy Ltd and will be replaced by Patrick M. Montalban as President & Chief Executive Officer.

MOUNTAINVIEW ENERGY LTD

“Joseph V. Montalban”

Joseph V. Montalban, Chairman of the Board
President & Chief Executive Officer

THIS NEWS RELEASE WAS PREPARED BY MANAGEMENT.
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

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