MOUNTAINVIEW ENERGY LTD (the “Company”), a Canadian Public Company listed on the TSX VENTURE EXCHANGE today announced that the drilling operations for the Red Creek No. 36 have been completed with great success. The Company made a gas discovery in the 1st Bow Island Sandstone. This discovery is the first producing 1st Bow Island Gas Well in the Red Creek Field.
The 1st Bow Island Sandstone was discovered from 1562′ to 1584′, which is 22 feet of pay zone. The initial production was 210,000 cubic feet of sweet dry gas per day. Shut-in pressure of the reservoir was 150 pounds and building after a one-hour test.
The discovery of the 1st Bow Island Sandstone in the Red Creek Field No. 36 has proved to not only be a one-well discovery but the discovery of a gas field. With the development of the Bow Island Gas Reservoir and the existing gas that is current being flared at the Red Creek Field, the potential exists for the Company to build a gas gathering system and pipeline to take this discovery to market.
The Company plans to complete a financing in the near future to fund the construction of the Red Creek Gas Plant and Pipeline.
MOUNTAINVIEW ENERGY LTD
“Patrick M. Montalban”
Patrick M. Montalban
President & Chief Executive Officer
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