 | | | | |  
Red Creek Field
After five years of operation, Management has completed several work over programs and a 4-well drilling program to bring the total number of producing oil wells in the Red Creek Field to 25, while maintaining 2 water disposal wells and 1 shut-in Bow Island Gas well discovery.
During the 4th Quarter 2005 Mountain View Energy, Inc commenced a 4-well development drilling program in the northeast corner of the Red Creek Field located in Section 1-T37N-R5W, Glacier County, Montana, adjacent to the Canadian Border. The locations drilled are direct offsets to wells just north of the Canadian Border where there has been a great deal of activity.
Following is a detail of the results from the 2005 -- 2006 Drilling Program:
- Red Creek No. 30: The Red Creek No. 30 is an oil well drilled and completed in the Cut Bank and Madison formations, with initial production of 47 barrels of oil per day.
- Red Creek No. 31: The Red Creek No. 31 is an oil well drilled and completed in the Cut Bank and Madison formations, with initial production of 10 barrels of oil per day.
- Red Creek No. 32: The Red Creek No. 32 is an oil well drilled and completed in the Cut Bank and Madison formations, with initial production of 13 barrels of oil per day.
- Red Creek No. 33: The Red Creek No. 33 is an oil well drilled and completed in the Cut Bank and Madison formations, with initial production of 15 barrels of oil per day.
With the initial production of the four new wells, the total field production has increased from an average of 85 BOPD to 150 BOPD for a total of 65 new barrels of oil production per day.
In addition to the above drilling program, the Company recently re-completed the Red Creek 11C-12 well. This well was re-completed in the Cretaceous Lower Cut Bank Sandstone from 2,612' to 2,640' for 28 feet of pay zone. The initial production for the Red Creek 11C-12 was 48 barrels of oil per day with no water.
The Company is prepared to re-complete the Lower Cut Bank Sandstone in the offset well, the Red Creek 12A-12, which is currently producing in a lower horizon. This discovery was determined through Management's expertise in log analysis in the Red Creek Area, Glacier County, Montana. With the discovery of this new pay zone, Management has plans to drill two additional wells to further develop this New Discovery Prospect.
The Company owns 100% working interest in the Red Creek Field and through geologic and engineering evaluation; the previous programs have provided new scientific results for future development drilling. Additional development drilling is expected to commence during the Spring of 2007, depending on rig availability. The Company's goal is to increase production to over 200 BOPD net to the Company.
|
|
