Monday, May 30, 2011
NEWS RELEASE! MVW.V - Mountainview Energy to Drill Bakken well with MARATHON OIL (MRO)
Mountainview Energy to Drill Bakken well with MARATHON OIL (MRO)
Yes, Marathon Oil Corporation (MRO) is the $38,000,000,000 Market Cap company trading at $50.00+ on the NYSE!
Just like MVW's previous arrangement with GEOI, they will have a 12.5% working interest in this well.
Full News Release Here
FINALLY we see some positive news from MVW... This is a great step in the right direction.
Last week I called the $1.30-1.70 range as a great place to accumulate stock (view post). Hopefully this release is the fuel the market needs to regain confidence in this play.
WHAT WE'RE STILL WAITING FOR:
MVW's 2011-2012 capital program will need a large some of money to begin. We haven't seen anything from the company yet about another large financing. I won't be fully confident in the longevity of this play until we see something about a financing...
Can't wait to see how the market reacts to this news!