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Mountainview Energy Ltd. (the “Company”) announces that it has begun the process of completing catch-up filing as required by the TSX Venture Exchange (the “Exchange”) with respect to the “Operating Agreements” to which it is indirectly a party. In particular, the Company will be seeking the approval of the Exchange to the following:

1. Operating Agreement dated November 1, 2007 between Mountain View Energy, Inc. (“MVW-Sub”), Majestic Oil & Gas, Inc. (“Majestic”), Hartford Energy, Inc. (“Hartford”), Numbers, Inc. (“Numbers”) and Altamont Oil & Gas, Inc. (“Altamont”).

This Agreement provides for MVW-Sub to acquire a 25% working interest in the B Ag #25-1 well located in the Lake Frances Gas Field of Pondera County, Montana. Should the well be completed and placed on production, revenue will be distributed according to each party’s working interest, less a royalty burden of 20%. Currently, the B Ag #25-1 is a producing natural gas well.

The Agreement also provides for the appointment of Altamont as the operator of the well. As operator, Altamont shall charge a drilling well rate of US$5,250 per month and a producing well rate of US$250 per month, which charges shall be shared according to each party’s working interest.

2. Operating Agreement dated November 1, 2007 between MVW-Sub, Majestic, Hartford, Numbers and Altamont.

This Agreement provides for MVW-Sub to acquire a 25% working interest in the Vandenbos 19-1 well located in the Lake Frances Gas Field of Pondera County, Montana. Should the well be completed and placed on production, revenue will be distributed according to each party’s working interest, less a royalty burden of 17.5%. Currently, the Vandenbos 19-1 is a producing natural gas well.

The Agreement also provides for the appointment of Altamont as the operator of the well. As operator, Altamont shall charge a drilling well rate of US$5,250 per month and a producing well rate of US$300 per month, which charges shall be shared according to each party’s working interest.

3. Operating Agreement dated January 1, 2009 between MVW-Sub, Majestic, Milk River Services, Inc. (“Milk”), Montalban Oil & Gas Operations, Inc. (“MOGO”), Numbers and Altamont.

This Agreement provides for MVW-Sub to acquire a 25% working interest in the Vandenbos 19-2 well located in the Lake Frances Gas Field in Pondera County, Montana. Should the well be completed and placed on production, revenue will be distributed according to each party’s working interest, less any royalty burden. Currently, the Vandenbos 19-2 well has been plugged and abandoned.

The Agreement also provides for the appointment of Altamont as the operator of the well. As operator, Altamont shall charge a drilling well rate of US$5,250 per month and a producing well rate of US$250 per month, which charges shall be shared according to each party’s working interest.

4. Operating Agreement dated March 1, 2008 between MVW-Sub, Hartford, Numbers and Altamont.

This Agreement provides for MVW-Sub to acquire a 50% working interest in the J. Powers #20-1 well located in the Lake Frances Gas Field of Pondera County, Montana. Should the well be completed and placed on production, revenue will be distributed according to each party’s working interest, less a royalty burden of 16.25%. Currently, the J. Powers #20- 1 is a producing natural gas well.

The Agreement also provides for the appointment of Altamont as the operator of the well. As operator, Altamont shall charge a drilling well rate of US$5,250 per month and a producing well rate of US$300 per month, which charges shall be shared according to each party’s working interest.

5. Operating Agreement dated November 20, 2007 between MVW-Sub, Majestic, Hartford, Numbers and Altamont.

This Agreement provides for MVW-Sub to acquire a 25% working interest in the Jody Fields #4-1 well located in the Lake Frances Gas Field of Pondera County, Montana. Should the well be completed and placed on production, revenue will be distributed according to each party’s working interest, less any royalty burden. The Jody Field #4-1 was drilled as an oil well and has since been plugged and abandoned.

The Agreement also provides for the appointment of Altamont as the operator of the well. As operator, Altamont shall charge a drilling well rate of US$6,250 per month and a producing well rate of US$450 per month, which charges shall be shared according to each party’s working interest.

6. Operating Agreement dated August 1, 2008 between MVW-Sub, Majestic, Hartford, Numbers and Altamont.

This Agreement provides for MVW-Sub to acquire a 25% working interest in the Boucher #18-1 well located in the Lake Frances Gas Field of Pondera County, Montana. Should the well be completed and placed on production, revenue will be distributed according to each party’s working interest, less a royalty burden of 17.5%. Currently, the Boucher #18-1 is a producing natural gas well.

The Agreement also provides for the appointment of Altamont as the operator of the well. As operator, Altamont shall charge a drilling well rate of US$5,250 per month and a producing well rate of US$250 per month, which charges shall be shared according to each party’s working interest.

7. Operating Agreement dated August 1, 2008 between MVW-Sub, Majestic, Hartford, Numbers and Altamont.

This Agreement provides for MVW-Sub to acquire a 25% working interest in the Stoltz #18-1 well located in the Lake Frances Gas Field of Pondera County, Montana. Should the well be completed and placed on production, revenue will be distributed according to each party’s working interest, less a royalty burden of 18.75%. Currently, the Stoltz #18-1 is a producing natural gas well.

The Agreement also provides for the appointment of Altamont as the operator of the well. As operator, Altamont shall charge a drilling well rate of US$5,250 per month and a producing well rate of US$250 per month, which charges shall be shared according to each party’s working interest.

8. Operating Agreement dated January 5, 2009 between MVW-Sub, Milk, Numbers and Altamont.
This Agreement provides for MVW-Sub to acquire a 50% working interest in the Vandenbos #13-1 well located in the Lake Frances Gas Field of Pondera County, Montana. Should the well be completed and placed on production, revenue will be distributed according to each party’s working interest, less a royalty burden of 17.5%. Currently, the Vandenbos #13-1 is a producing natural gas well.
The Agreement also provides for the appointment of Altamont as the operator of the well. As operator, Altamont shall charge a drilling well rate of US$5,250 per month and a producing well rate of US$250 per month, which charges shall be shared according to each party’s working interest.

9. Operating Agreement dated August 1, 2009 between MVW-Sub, Simon & Associates and Altamont.

This Agreement provides for MVW-Sub’s ownership of a 22.5% working interest in the J. Powers #3 well located in the Lake Frances Gas Field of Pondera County, Montana. Revenue will be distributed according to each party’s working interest, less a royalty burden of 13.5%. Currently, the J. Powers #3 is a producing natural gas well.

The Agreement also provides for the appointment of Altamont as the operator of the well. As operator, Altamont shall charge a drilling well rate of US$5,250 per month and a producing well rate of US$250 per month, which charges shall be shared according to each party’s working interest.

10. Operating Agreement dated August 1, 2009 between MVW-Sub, Simon & Associates, Mrs. Glasys Friedig, Carly L. Goehring, Karl M. Goehring, Julie Goehring and Altamont.

This Agreement provides for MVW-Sub’s ownership of a 17.5% working interest in the J. Powers #4 well located in the Lake Frances Gas Field of Pondera County, Montana. Revenue will be distributed according to each party’s working interest, less a royalty burden of 13.5%. Currently, the J. Powers #4 is a producing natural gas well.

The Agreement also provides for the appointment of Altamont as the operator of the well. As operator, Altamont shall charge a drilling well rate of US$5,250 per month and a producing well rate of US$250 per month, which charges shall be shared according to each party’s working interest.

11. Operating Agreement dated August 1, 2009 between MVW-Sub, Simon & Associates and Altamont.

This Agreement provides for MVW-Sub’s ownership of a 22.5% working interest in the J. V. Inc. #2 well located in the Lake Frances Gas Field of Pondera County, Montana. Revenue will be distributed according to each party’s working interest, less a royalty burden of 15%. Currently, the J.V. Inc. #2 is a producing natural gas well.

The Agreement also provides for the appointment of Altamont as the operator of the well. As operator, Altamont shall charge a drilling well rate of US$5,250 per month and a producing well rate of US$250 per month, which charges shall be shared according to each party’s working interest.

The Company opted to participate in the drilling of the above described wells in order to expand their operations into the area of natural gas development. Participating in these wells has enhanced the Company’s monthly revenue and has provided additional opportunities for further development of its natural gas interests.

In each case due to the involvement of Altamont and, in some cases Majestic and MOGO, each of the above-noted agreements is considered a “related party transaction” as per applicable regulatory authorities. Each company is a private company either wholly or majority-owned and/or managed by Patrick M. Montalban, a director, officer and shareholder of the Company. Accordingly, each agreement requires shareholder approval, including minority approval. Requisite shareholder approval will be sought at the Company’s upcoming Annual and Special Meeting to be held in Vancouver, B.C., Canada on June 16, 2010. As the fair market value of the subject matter of each agreement did not exceed 25% of the Company’s market capitalization at the time the Company entered into each agreement, the Company will be relying on the exemption to the requirement for a formal valuation of each agreement under section 5.5(a) of Multilateral Instrument 61-101.

ON BEHALF OF THE BOARD OF DIRECTORS OF MOUNTAINVIEW ENERGY LTD.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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