Altima Testing Chambers 5-35-41-11 W5M Well and Completing Pipeline and Production Facility
24 6월 2014 - 9:00PM
Marketwired
Altima Testing Chambers 5-35-41-11 W5M Well and Completing Pipeline
and Production Facility
CALGARY, ALBERTA--(Marketwired - Jun 24, 2014) - Altima
Resources Ltd. (TSX-VENTURE:ARH)(FRANKFURT:AKC)(PINKSHEETS:ARSLF)
announces that the Altima Chambers 5-35-41-11 W5M well (5-35 well)
completed fracture stimulation operations on June 19, 2014. Three
separate fracture stimulations treatments were conducted on five
formations, and all flowed back gas and liquids. Operations are
continuing to mill out plugs and commingle all zones, run
production tubing, and perform a flow and build up test on the
well.
Altima has completed the 1.37 kilometer, 4 inch natural gas
pipeline from the 5-35 well to a newly constructed riser located at
9-35-41-11 W5M. This infrastructure will connect the 5-35 well into
Altima's existing Chambers North production and gathering system.
Well site facilities will be installed after the flow test is
completed, and the Company anticipates production from the 5-35
well to commence in early July.
As reported in the Company's March 3 and March 17, 2014 News
Releases, the 5-35 well is the second well drilled under Altima's
Participation Agreement with Whistler Oil and Gas Pty. Ltd., and
was drilled to a Total Depth of 3,158 meters and Rig Released on
March 16, 2014. Under the subject Whistler Agreement, an additional
follow up well has been licensed and new well location constructed
at 9-35-41-11 W5M.
The Company's mostly contiguous land base at Chambers-Ferrier
totals twenty-seven (27) sections (17,280 gross acres) with an
approximate average working interest of 86% in 16 of the 27
sections and varying interests in eleven (11) 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
Richard Switzer, CEO and President
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.
Forward Statements:
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.
Altima Resources Ltd.Richard SwitzerCEO and President(604)
336-8610(604) 718-2808www.altimaresources.com
Altima Resources (TSXV:ARH)
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