ALTACANADA ENGAGES CIBC WORLD MARKETS INC. AND CASES FIRST MONTANA WELL
02 10월 2010 - 5:20AM
PR Newswire (Canada)
CALGARY, Oct 1 /CNW/ -- PRESS RELEASEOCTOBER 1, 2010TSX-V SYMBOL:
ANG CALGARY, Oct 1 /CNW/ - AltaCanada Energy Corp. (the
"Corporation") announces that its Board of Directors has decided to
undertake a review of strategic alternatives and has engaged CIBC
World Markets Inc. ("CIBC") as its financial advisor to assist in
the review process. AltaCanada has over 390,000 gross acres of
contiguous lands in northern Montana adjacent to existing oil
production in the Shaunavon and Bakken Formations currently being
pursued in Montana, North Dakota and southern Saskatchewan by
various other operators. AltaCanada and CIBC have prepared a
corporate summary document that is available on CIBC's website
(http://www.cibcwm.com/wm/investment-banking/industry-expertise/oil-gas.html).
The corporate sale of AltaCanada is only one of several
alternatives under consideration. The refinancing of the
Corporation's debt as well as merger and joint venture
opportunities will also be examined in order to maximize
shareholder value and enable the Corporation to accelerate its
attractive Jurassic and Bakken drilling opportunities. Drilling
operations on the first of two scheduled wells in Blaine County,
Montana have been completed, with the East Battle well cased as a
potential Shaunavon oil well. Completion operations are
scheduled to commence in one week. The second well will spud on
October 4, 2010, targeting the Bakken formation. The Corporation is
engaged in the acquisition, exploitation and production of crude
oil and natural gas reserves in Western Canada and Montana.
For more information on the Corporation, visit www.altacanada.com.
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. table cellspacing="0" valign="top"
border="0"tr valign="top"td align="left" /td td valign="top"
align="left"Don Foulkes, President & CEO/td td valign="top"
align="left"Don Jackson, Exec VP & COO/td/tr tr valign="top"td
align="left"Telephone:/td td valign="top" align="left"(403) 265
9091 (ext 248)/td td valign="top" align="left"(403) 265 9091 (ext
234)/td/tr tr valign="top"td align="left"Fax:/td td valign="top"
align="left"(403) 265 9021/td td valign="top" align="left"(403) 265
9021/td/tr tr valign="top"td align="left"Email:/td td valign="top"
align="left"a
href="mailto:info@altacanada.com"info@altacanada.com/a/td td
valign="top" align="left"a href="mailto:Info@altacanada.com"
cr="true"Info@altacanada.com/a/td/tr/table
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