NEW YORK, Aug. 27, 2013 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of Open, Transparent and Connected financial marketplaces, today announced that Mountainview Energy Ltd. (OTCQX: MNVWF; TSX.V: MVW), a Canadian oil and gas exploration company, has been approved to trade on OTCQX®, the best marketplace with qualified companies.
Mountainview Energy began trading today on OTCQX International, a segment of the OTCQX marketplace reserved for high-quality non-U.S. companies that are listed on a qualified international exchange, undergo management reviews and provide their home country disclosure to U.S. investors. U.S. investors can find current financial disclosures and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
"We are pleased to welcome Mountainview Energy to the OTCQX marketplace," said R. Cromwell Coulson, President and CEO of OTC Markets Group. "OTCQX companies demonstrate their commitment to providing superior information to investors and maintaining the highest quality standards. We look forward to supporting the Mountainview team as they continue to grow the company and provide a robust public market for their shares."
"We are pleased to join OTCQX as it will provide our U.S. investors with timely news and information to help them better analyze, value and trade our securities," said Patrick M. Montalban, President and CEO of Mountainview Energy Ltd.
Burns, Figa & Will, P.C. will serve as Mountainview Energy's Principal American Liaison ("PAL") on OTCQX, responsible for providing professional guidance on OTCQX requirements and U.S. securities laws.
Mountainview Energy's primary focus is on the exploration, production and development of its oil and gas assets in the Williston Basin Bakken/Three Forks play in Sheridan County, Montana and Divide County, North Dakota and the South Alberta Bakken play in Glacier, Pondera and Teton County, Montana. Through this development activity the company has the opportunity to increase its daily production and to build an oil and gas company based on solid fundamentals. To accomplish its goals Mountainview will rely on its management team's proven record of over 50 years of combined experience in developing oil and gas fields both in private and public companies.
Mountainview Energy Ltd. is an Operator in the Williston Basin. The core project of the company is the 12-Gage Project located in the Williston Basin, Divide County, North Dakota. The company successfully drilled three horizontal Three-Forks wells on its 12-Gage property during the 2012 Winter Drilling program all of which are currently producing. The company is currently drilling the third well of the 2013 Three-Well Summer Program.
The 12-Gage Project has a total of 84 potential horizontal Three Forks well locations to develop this acreage. Management believes that the knowledge gained from the 12-Gage Project will help it successfully develop its Stateline and Medicine Lake acreage located in Sheridan County, Montana.
Mountainview Energy trades in the U.S. on OTCQX under the symbol "MNVWF."
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates Open, Transparent and Connected financial marketplaces for 10,000 U.S. and global securities. Through our OTC Link® ATS, we directly link a diverse network of broker-dealers that provide liquidity and execution services for a wide spectrum of securities. We organize these securities into marketplaces to better inform investors of opportunities and risks – OTCQX®, The Best Marketplace with Qualified Companies; OTCQB®, The Venture Stage Marketplace with U.S. Reporting Companies; and OTC Pink®, The Open Marketplace with Variable Reporting Companies. Our data-driven platform enables investors to easily trade through the broker of their choice at the best possible price and empowers a broad range of companies to improve the quality and availability of information for their investors. To learn more about how we create better informed and more efficient financial marketplaces, visit www.otcmarkets.com.
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SOURCE OTC Markets Group Inc.