Altima's (ARH.V) Completes Workover Operations at Chambers 3-17-41-11 W5M
November 4, 2014 / TNW-ACCESSWIRE / November 4 2014 / Altima Resources Ltd. (TSX-V: ARH / FSE: AKC / OTC Pink: ARSLF) announces that it has completed work-over operations on the UNE Chambers 3-17-41-11 W5M well.
Altima, through its joint venture with Acumen Energy Partners Inc. (refer to News Release August 6, 2014) completed work-over and flow-testing operations of the UNE Chambers 3-17-41-11 W5M well on October 30, 2014.
Rick Switzer, President and CEO of the Company reported that that existing packers and bridge plugs were recovered from the well bore and a total of six intervals were tested. Mr. Switzer commented: "After removing the packers and plugs to bottom, we were encouraged by the results from the first test intervals and made a decision to fracture stimulate an upper zone. The upper most formation was then isolated with a bridge plug set below the perforations and the interval was then fracture stimulated."
"Subsequent to the frac, much higher than anticipated bottom hole pressure was encountered. It was decided to leave the bridge plug in place and place the upper interval on production. At a later date when the bottom hole pressure has decreased, the Company will re-enter the well bore and remove the bridge plug to open up the bottom formations for commingled production. Although operations after the frac were very challenging, the Company is encouraged with the results."
Altima will now move forward in placing the well on production through the Conoco 9-4-41-11 W5M compressor station. Production is anticipated to commence within four to six weeks.
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.
