VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 24, 2013) - Altima Resources Ltd. (TSX VENTURE:ARH) (PINKSHEETS:ARSLF) (FRANKFURT:AKC) announces that on July 23, 2013 it acquired a 100% working interest in section 36 Twp. 41 Rge, 11 W5M, the 10-36-41-11 W5M well (the "10-36 Well"), and an approximate 4.36 km 4.5 inch natural gas pipeline. The subject pipeline ties the 10-36 Well to the Baytex Aurora Gas Gathering System tie in point at the 04-04-41-11 W5M Baytex compressor station. This line will provide the tie in point for the Altima 14-35-41-11 W5M Well (the "14-35 Well") in Chambers, Alberta.
Altima has now completed testing of the 14-35 Well (refer to news release dated June 17, 2013). The 14-35 Well was completed in six sweet liquids rich gas formations from May to July 2013. The Company will construct an approximate 2.0 Km 4 inch natural gas pipeline to the tie in at the 10-36 Well. Overall, Altima will have 100% interest in an approximate 6.4 km pipeline, gas gathering and transmission system for the northern portion of its Chambers area property. The Company anticipates placing the 14-35 Well on production prior to September 1, 2013.
Altima's Calgary office, located at Suite 900, 2424 - 4th Street S.W., Calgary Alberta, T2S 2T4 remains closed as a result of the Calgary flooding. Inquiries should now be directed through the Vancouver office. Operations have not been affected by the Calgary office situation.
Richard Switzer, CEO, President and a Certified Professional Geologist, is the Qualified Person under National Instrument 51-101 responsible for preparing and reviewing the technical data contained in this press release.
ON BEHALF OF THE BOARD
Joe DeVries, Director
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.
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.
