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, 2007, as follows:
- Annual Audited Financial Statements for the year ended December 31, 2007
- Managements Discussion & Analysis
- 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, 2007 were $2,685,372, an increase of $387,005 over the $2,298,367 in Gross Revenues from oil sales reported in 2006. 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 volumes, as detailed in the Managements Discussion & Analysis. Steady monthly sales volumes and increasing oil prices enable the Company to continue meet its ongoing obligations.
Management continues with drilling and re-completion programs in the Red Creek Field. Two wells were drilled and completed during 2007, the results of which have continued to enhance the Red Creek Field production. The Company is currently in the process of completing the Red Creek No. 40 and No. 41 wells.
MOUNTAINVIEW ENERGY LTD
“Patrick M. Montalban”
Patrick M. Montalban
President & Chief Executive Officer
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