MOUNTAINVIEW ENERGY LTD (the “Company”), a Canadian Public Company listed on the TSX VENTURE EXCHANGE today announced that on Monday, July 30, 2007, GasCo Drilling Rig No. 5 commenced drilling operations (spudded) on the Red Creek No. 36 well in the Red Creek Field. The well is located in Section 2-T37N-R5W, Glacier County, Montana.
The primary oil objective of this well is the Mississippian Madison/Sun River Dolomite and the Cretaceous Lower Cut Bank Sandstone. The secondary oil objective of the well is the Cretaceous Upper Cut Bank Sandstone.
Another major objective of this well is to test for natural gas in the Cretaceous 1st Bow Island Sandstone. If Management is correct in its geological and engineering evaluation of the 1st Bow Island Sandstone, this could be a major discovery in the Red Creek Field for the Company. However, there has been no reported production from the Bow Island reservoir to-date in the Red Creek Field. It will take approximately 5 days to drill, test and evaluate the Red Creek No. 36.
Schlumberger Oilfield Services located in Williston, North Dakota will provide the logging services to evaluate all the above mentioned reservoirs. Cementing services are being provided by Liquid Gold, a Cut Bank, Montana service Company.
The Red Creek No. 36 is the second well of the two-well program. The Company will provide further results from this program as soon as they become available.
MOUNTAINVIEW ENERGY LTD
“Patrick M. Montalban”
Patrick M. Montalban
President & Chief Executive Officer
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