Altima (ARH.V) Announces Drilling and Pipeline Construction at Chambers, Alberta With Whistler Oil and Gas Pty. Ltd.
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 21, 2014) - Altima Resources Ltd. (TSX VENTURE:ARH)(PINKSHEETS:ARSLF)(FRANKFURT:AKC) announces that together with its joint venture partner Whistler Oil and Gas Pty. Ltd. ("Whistler") (see Dec.13/13 press release), Altima and Whistler have licensed two new vertical wells in the Chambers-Ferrier area project, Alberta, Canada.
The 5-35-41-11 W5M well and 9-35-41-11 W5M well (the "Wells") are offsets to the 15-35-41-11 W5M well that Altima drilled with Whistler and placed on stream on September 3, 2013 (see Sept.5/13 press release). The Wells will be drilled vertically to an approximate depth of 3,100 meters, and are expected to encounter multiple prospective horizons, including the productive zones in the 15-35 well.
Production from the Wells will flow through a 1.4 km pipeline to be constructed from the 5-35 well and tie into Altima's existing 6.4 km pipeline that connects to the Baytex compressor station located at 4-4-42-10 W5M. From the Baytex compressor, gas and liquids will be routed through the Keyera North Strachan Gas Gathering System to the sales point at the Keyera deep cut gas facility located at 11-35-37-9 W5M.
Rick Switzer, President and CEO of Altima, confirmed that construction of the drilling leases and access road will commence the last week of January, with spud of the 5-35 well targeted for the first week of February. The 9-35 well is anticipated to be drilled immediately after rig release of the 5-35 well.
Mr. Switzer commented: "We are very pleased with our ongoing relationship with Whistler Oil and Gas Pty. Ltd. Last year we drilled the 15-35 well with Whistler and followed up with the 50/50 purchase of six additional sections adjacent and to the north of section 35. We also will construct the new pipeline under the earning arrangement with Whistler, and barring logistical or weather delay anticipate the new wells will be on production in Q2 2014."
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
Joe DeVries, Director
