Altima Reports on Operations at Chambers-Ferrier and Rainbow Lake Areas, Alberta
November 21 2011 - 1:56PM
Marketwired
Altima Resources Ltd. (TSX VENTURE:ARH)(PINK
SHEETS:ARSLF)(FRANKFURT:AKC) reports as follows:
Chambers-Ferrier, Alberta
The 14-6-41-10W5M well commenced production on October 12, 2011
and continues to produce through a restricted choke as well
production rates stabilize. Production for the first 12 days of
November averaged 1.05MMcf/d and 41 bpd condensate at the well
head. The well is produced through the ConocoPhillips Chambers gas
gathering system to the Keyera deep cut plant in Strachan, Alberta
for liquids removal and sales. The Company expects a minimum
additional 15 barrels of liquids per 1MMcf obtained from the
natural gas at the plant. Altima holds a 19.3545% interest in the
subject well in addition to sections 5 and 6 Twp. 41 Range 10 W5M
and the 6-5-41-10W5M well approximately one mile to the east.
Rainbow Lake, Alberta
The Rainbow 13-11-111-5W6M well spud on November 19, and will
drill to a total depth of approximately 1,672 meters. The Company
anticipates completion within 30 days from spud. Refer also to the
Company's News Release dated August 23, 2011.
ON BEHALF OF THE BOARD
Richard Switzer, President and CEO
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This
news release includes certain forward-looking statements or
forward-looking information within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995 and applicable Canadian
provincial securities legislation (together, "forward-looking
statements"). Forward-looking statements include, but are not
limited to, statements with respect to the terms and conditions of,
the completion of and the use of proceeds of the proposed
transactions. Forward-looking statements are necessarily based upon
a number of estimates and assumptions that, while considered
reasonable, are subject to known and unknown risks, uncertainties,
and other factors which may cause the actual results and future
events to differ materially from those expressed or implied by such
forward-looking statements. Such factors include, but are not
limited to: general business, economic, competitive, political and
social uncertainties; and delay or failure to receive board,
shareholder or regulatory approvals. There can be no assurance that
such statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. Altima 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 required by law.
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.
Contacts: Altima Resources Ltd. Richard Switzer President and
CEO (604) 718-2800 (604) 718-2808 (FAX)www.altimaresources.com
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