Altima (TSX VENTURE:ARH) Update Regarding Chambers 5-35-41-11 W5M Well and Pipeline
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 9, 2014) - Altima Resources Ltd. (TSX VENTURE:ARH)(PINKSHEETS:ARSLF)(FRANKFURT:AKC) announces that the Altima Chambers 5-35-41-11 W5M well (5-35 well) will be completed and the pipeline connecting the well to Altima's production infrastructure will commence operations within the next two weeks.
The 5-35 well will be fracture stimulated over multiple prospective zones. The operation is anticipated to take approximately 24 days, and will be timed such that the well can be brought on stream in conjunction with the Keyera Strachan facility turnaround. Altima will immediately commence construction of a 1.37 Kilometer 4 inch natural gas pipeline and facilities from the 5-35 well to a riser at 9-35-41-11 W5M. The new line will tie into Altima's existing Chambers North production and gathering system.
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. The 5-35 well is located approximately 1.1 kilometers south of the 15-35-41-11 W5M well (which was drilled, completed, and placed on production in 2013), and 4 kilometers to the north of the COPOL ET AL HZ CHAMBERS 14-15-41-11 W5M well (which was drilled and completed in 2012, and placed on production in 2013).
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
