VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 16, 2013) - Altima Resources Ltd. (TSX VENTURE:ARH)(PINKSHEETS:ARSLF)(FRANKFURT:AKC) announces that it has commenced completion operations on the Altima Chambers 14-35-41-11 W5M well. (refer to News Releases dated February 19, 2013, March 5, 2013, and April 4, 2013.)
Rick Switzer, President and CEO reported that completion operations commenced on May 12th and are slated to proceed continuously for approximately three weeks. During that period, four separate fracture stimulations will take place with limited flow back subsequent to each frac. Additional flow back and shut-in for comingled reservoir build up and evaluation will follow the final fracture stimulation.
The 14-35 well is the first well drilled under Altima's Participation Agreement with Whistler Oil and Gas Pty. Ltd., and is located approximately 5km to the north of the COPOL ET AL HZ CHAMBERS 14-15-41-11 W5M well that was drilled and completed in 2012. On April 3, 2013, Altima expanded its acreage position at Chambers-Ferrier with the successful acquisition of six sections. Altima acquired the new lands on an equal basis with Whistler Oil and Gas Pty. Ltd.
The Company's mostly contiguous land base at Chambers-Ferrier now totals twenty-five (25) sections (16,000 gross acres) with an approximate average working interest of 79.5% in 16 of the 25 sections and varying interests in nine (9) wells.
Richard Switzer, CEO, President and a Certified Professional Geologist, is the Qualified Person under National Instrument 51-101 responsible for preparing and reviewing the data contained in this press release.
ON BEHALF OF THE BOARD
Joe DeVries, Director
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to: availability of capital and financing required to continue the Company's exploration and development plans; general economic, market or business conditions; the actual results of current and planned exploration activities; fluctuating commodity prices; risks associated with property option agreements, leases, joint ventures and the ability to conclude joint venture agreements on favorable terms; possibility of accidents, equipment breakdowns and delays during exploration; exploration cost overruns or unanticipated costs and expenses; regulatory changes and restrictions including in relation to environmental liability; timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
