CUT BANK, MT, May 24, 2011
Mountainview Energy Ltd. (TSXV: MVW) (the “Company”) today announced the resignation of Mr. Joseph V. Montalban from the Board of Directors of the Company, effective May 19, 2011.
Mr. Montalban has a rich history in the Oil & Gas Industry, starting his career in the early 1950′s working in the oil fields as a roughneck in Central Alberta. He began working for Flank Oil in the early 1950′s in Edmonton, Alberta and moved to Billings, Montana working as their Vice President of drilling operations. He formed his own company, Montalban Drilling, in the late 1950′s and drilled many wildcat wells throughout Montana; trying to extend Devonian Production south into the State of Montana. Along with drilling their own wells, Montalban drilled for well-known companies such as Shell, Exxon (Humble), Standard, Miami and Sun Oil. In 1969, he moved his Company office to Cut Bank, Montana and in the early 1970′s started his first public companies, Monte Grande Exploration, Ltd., and Mountain States Resources Ltd. The two Companies were listed for trading on the Vancouver Stock Exchange and were merged in 1983 to form MSR EXPLORATION LTD, a company listed for trading on the Toronto Stock Exchange and on the American Stock Exchange. MSR merged with Mercury from Fort Worth, Texas and became Quicksilver Resources, Inc., traded on the New York Stock Exchange (KWK).
Throughout Mr. Montalban’s career he discovered and developed the Gypsy Basin, Highview and Bills Coulee Fields located in Pondera and Teton County, Montana. Mr. Montalban formed Gyspy Highview Gathering System, Inc., the Company who constructed the natural gas plant and gathering system, which gathered the only Rocky Mountain Front natural gas ever sold from the Blackleaf Canyon in Teton County, MT. He drilled the Bugby # 1 well, located in Glacier County, Montana, with Flank Oil in 1957, which discovered oil in the Bakken section. A number of Companies, including Newfield and Rosetta, have keyed their drilling activities around this Bakken discovery.
In 2001, Mr. Joseph V. Montalban and his son, Patrick M. Montalban, formed Mountainview Energy Ltd, currently trading on the TSX Venture Exchange. The Company’s primary focus is on the exploration, production and development of the Bakken and Three Forks Shale in the Williston Basin and the South Alberta Bakken play.
We would like to thank Mr. Montalban for his many years of service and dedication, along with his expertise shared with the employees of Mountainview Energy Ltd throughout the years. We wish Mr. Montalban the best in his future endeavours.
“Patrick M. Montalban”
Patrick M. Montalban
President & Chief Executive Officer
Certain information contained in this press release constitutes forward-looking statements, including, without limitation, information related to Mountainview’s participation in the Well and the timing, operatorship and depth of the Well. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the party’s control including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and ability to access sufficient capital from internal and external sources, inability to meet or continue to meet listing requirements, the inability to obtain required consents, permits or approvals and the risk that actual results will vary from the results forecasted and such variations may be material. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company’s actual results, performance or achievement could differ materially from those expressed in or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive therefrom.
The forward-looking statements contained in this press release are made as of the date of this press release. Mountainview disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Additionally, Mountainview undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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