MVW.V Mountianview Energy Ltd. - Daily Candlestick Pattern: Black Closing Marubozu
Company Profile: Mountainview Energy, Ltd. engages in the acquisition, exploration, development, and production of crude oil and natural gas properties primarily in the Williston Basin and South Alberta Bakken in northern Montana. It explores for crude oil, condensate, and natural gas. The company primarily owns interests in the Loneman Coulee field located in Pondera County, Southwest Pondera Prospect located in Teton County, and Lake Frances Field located in Pondera County in Montana. It also holds interests in Montana State Lands in the South Alberta Bakken Play, as well as interests in lands in Pondera County, Teton County, and Toole County. The company was incorporated in 2000 and is headquartered in Cut Bank, Montana.
Press Release: Mountainview Energy Ltd provides operational update – drilling and fracturing operations complete on horizontal Bakken well in the Williston Basin
CUT BANK, MT, Dec. 15, 2011 /PRNewswire/ – Mountainview Energy Ltd. (TSXV: MVW) (“Mountainview” or the “Company”) is pleased to announce an operational update on the completion of the Olson 1-21-16H horizontal well, which spudded in April 2011 in the SESE-Section 21-Township 29 North, Range 57 East, Roosevelt County, Montana by G3 Operating, LLC. (“G3″), a subsidiary of GeoResources, Inc., a U.S. Public Company traded on NASDAQ.
Drilling and fracturing operations on the Olson 1-21-16H well are complete and the well is currently producing. The initial production rate was 607 barrels of oil equivalent (“boe”) per day.*
The Company acquired approximately a 3.8% working interest in the SM Energy Company (“SM Energy”) Wolter 13-23H well located in Section 14-T163N-R100W, Divide County, North Dakota. The Company also recently purchased approximately a 1% working interest in the Petro-Hunt LLC/ Miller 157-101-12C-1-1H located in Section 1 & 12-T157N-R101W Williams County, ND.
The Company’s current non-operated wells in the Williston Basin are as follows:
Operator Well Name/Location Initial Rate* MVW’s Interest
G3 Operating Olson 1-21-16H 607 boe/d 12.5%
SM Energy Wolter 13-23H confidential status 3.8%
Petro Hunt Miller 157-101-12C-1-1H waiting to spud 1.0%
Mountainview is also pleased to report the Company acquired an additional 4,000 acres in the South Alberta Bakken Play. Mountainview is continuing with its acreage leasing program in the South Alberta Bakken area and the Company’s goal is to accumulate 100,000 net acres in this area.
Williston Basin Area Activity
Several producing wells have recently been drilled and completed in the Bakken Shale in the vicinity of the Company’s Montana Bakken acreage. There is production to the south, recently EOG Resources, Inc. reported the #5-1003H Stateline in Roosevelt County, MT, initially flowed an average of 405 barrels of oil and 222,380 cubic feet of gas per day.* Production is reported to the north on the Taqa North USA, Inc (“Taqa”) Hellegaard #9-12H, located in Section 9-Township 37 North, Range 57 East, Sheridan County, MT, a 640 acre horizontal well with initial production of 433 boe/d.* The Hellegaard #9-12H well has produced over 100,000 barrels in just over a year. According to the State of Montana Board of Oil & Gas, TAQA has 8 producing horizontal Bakken wells in northern Sheridan County. Production is reported to the east on a 1280 acre horizontal well by Oasis Petroleum, being the Bean 5703 42-34H, with initial production of 1346 barrels of oil per equivalent per day.*
South Alberta Bakken Area Activity
According to the Montana Board of Oil and Gas website, there have been at least 45 wells permitted, spudded, or drilled targeting the South Alberta Bakken. Anschutz Exploration Corporation (“Anschutz’), Newfield Exploration Company (“Newfield”), and Rosetta Resources Inc (“Rosetta”) have done the majority of the drilling on the Montana side of the play on the Blackfeet Indian Reservation in Glacier County. Newfield has recently announced an initial rate of 225 boe/day* with only 33% of the lateral producing on one of their horizontal wells. All three companies plan to continue with operations in the play in 2012. There are also several other companies that are targeting the Alberta Bakken to the south of the Blackfeet reservation in Pondera and Teton counties, which is where the Company’s acreage is located. The company is encouraged by industry’s results in the play to date and will continue to observe and study the play. The Company currently controls approximately 80,000 net acres in the play.
Company Strategy
The Company’s strategy is to grow through acquiring more Williston Basin acreage; targeting the Bakken/Three Forks Shale and developing the acreage in the Company’s portfolio. Mountainview plans to drill and complete horizontal wells on the Company’s existing acreage, as well as aggressively pursuing non-operated working interests in Bakken and Three Fork wells in the Williston Basin.
Mountainview Energy Ltd. is a public oil and gas company listed on the TSX Venture Exchange, with a primary focus on the exploration, production and development of the Bakken and Three Forks Shale in the Williston Basin and the South Alberta Bakken
*The initial production rates expressed in this press release are the 24-hour “Peak Production Rate” of the relevant well. Peak Production Rates may be established following the intial day of production depending on operator design or well flowback profiles. The initial production rate may be estimated based on other third party estimates or limited data available at this time. The initial production is estimated using barrels of oil equivalent
Fully Diluted Outstanding Shares
Initial Shares9,766,850
Private Placement @ $.22521,000,000
Finders Fees 1st PP876,660
Carter Stewart & Jim Arthaud Acquisition18,611,111
Private Placement @ $.902,777,777
Current Outstanding Shares53,032,398
Altamont Oil & Gas, Inc Acquisition7,822,727
Numbers et al. Acquisition5,027,273
Post Acquisitions65,882,398
Warrants from Private Placement @ $.325,250,000
Finders Fees Warrants @ $.32738,253
Warrants-2nd PP @ $1.12694,451
Stock Options4,030,000
Fully Diluted Outstanding Shares76,595,102
Bullish Sentiments: Breakout on consolidation prices, support from the top of consolidation line.
CEDC (Nasdaq CM) Central European Distribution Corporation - Daily Candlestick Pattern: Black Candlestick
Company Profile: Central European Distribution Corporation, together with its subsidiaries, produces, imports, and distributes alcoholic beverages in Poland, Hungary, and the Russian Federation. It produces and sells vodka under the Absolwent, Zubrowka, Bols, Palace, Soplica, Green Mark, Parliament, Zhuravli, and Royal brands. The company distributes approximately 700 brands of alcoholic beverages; and imports spirits, wines, and beers of various brands, including Jim Beam Bourbon, Campari, Jägermeister, Remy Martin Cognac, Guinness, Corona, Budvar, E&J Gallo wines, Carlo Rossi wines, Sutter Home wines, Metaxa Brandy, Sierra Tequila, Teachers Whisky, Cinzano, Old Smuggler, Grants Whisky, and Concha y Toro wines. It also exports its products principally to Ukraine, Commonwealth of Independent States, the United States, Japan, the United Kingdom, and France. The company was founded in 1990 and is based in Mt. Laurel, New Jersey.
Bullish Sentiments: Closing Rising Window, Bullish Support line break above
