Altima Resources (TSX:ARH) (:ARSLF) 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
