RobertJames
10 years ago
Altima Resources Ltd. (ARH.V) Altima's Chambers 5-35-41-11 W5M Well On-Stream
July 17, 2014 / Altima Resources Ltd. (TSX-V: ARH / FSE: AKC / OTC Pink: ARSLF) announces that the Altima Chambers 5-35-41-11 W5M well (5-35 well) was placed on-stream July 16, 2014.
The 5-35 well was drilled to a Total Depth (TD) of 3,158 meters Measured Depth and Rig Released (RR) on March 16, 2014. Altima completed a 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 connects the 5-35 well into Altima's existing Chambers North production and gathering system.
As reported in the Company's March 3, 2014 News Release, the 5-35 well is the second well drilled under Altima's Participation Agreement with Whistler Oil and Gas Pty. Ltd. 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
SIGNED: "Richard Switzer"
Richard Switzer, CEO and President
phantom4
10 years ago
1 for 8 r/s at their discretion,the worst move they could make, if there is a vote,, vote against it,it is the kiss of death never works,they have a small float as it is,it was moving up until this announcement.
phantom4
11 years ago
I have a large position in Altima, they seem to be drilling good,, wells... no dry holes several new cased wells to be put on production,other than that its hush hush on flow rates.I am hoping they have hit light oil and are leasing more land before releasing news.If true , Altima shares should finally move .
RobertJames
11 years ago
Altima Enters (TSX VENTURE:ARH) - (PINKSHEETS:ARSLF) Into Amending Agreement for the Drilling of the 05-35-41-11 W5M and the 09-35-41-11 W5M Wells to Be Drilled at Chambers-Ferrier, Alberta
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 13, 2013) - Altima Resources Ltd. (TSX VENTURE:ARH)(PINKSHEETS:ARSLF)(FRANKFURT:AKC) announces that it has entered into an Amending Agreement (the "Amending Agreement") to the Participation and Joint Venture Agreement (the "JV Agreement") with Whistler Oil and Gas Pty. Ltd. ("Whistler") (see News Release dated January 24, 2013).
The JV Agreement provides that Whistler was granted the right to earn a 50% working interest (the "Working Interest") in three (3) conventional vertical wells (the "Future Wells") to be drilled on the Company's currently held oil and gas leases located in the Chambers-Ferrier area of the Western Canada Sedimentary Basin ("WCSB"), Alberta (the "Project").
The Amending Agreement provides that Whistler has agreed to invest additional funds estimated to be $7,000,000 (the "Additional Investment") for the drilling of the 05-35-41-11 W5M and the 09-35-41-11 W5M vertical wells. Of the Additional Investment, $1,000,000 (which was payable on execution of the Amending Agreement) will be a refundable deposit, with the balance $6,000,000 being due and payable on or before January 17, 2014. The parties have agreed that in the event an anticipated financing for Whistler's participation on January 4, 2014 does not occur, Whistler has the right to notify Altima that it is unable to complete the Additional Investment. Altima will then be free to either drill the wells for its own interest or to find an alternative partner to complete the drilling of the wells. Upon completion of either of these arrangements, Altima will reimburse Whistler for the funds advanced.
Pursuant to the Amending Agreement, Whistler has agreed to pay from its Investment 100% of the Drilling, Completion and Equipping costs (as those terms are defined in CAPL-2007) of each Future Well drilled in the Project to earn its 50% Working Interest, provided that Whistler shall receive 60% of the net revenue from the 15-35-41-11 W5M well, and 75% of the net revenue from the 05-35-41-11 W5M and the 09-35-41-11 W5M wells, until it has recovered 100% of its Initial Investment in the 15-35-41-11 W5M, the 05-35-41-11 W5M and the 09-35-41-11 W5M wells.
Upon Whistler having earned a 50% Working Interest in the 15-35-41-11 W5M well, the 05-35-41-11 W5M well, and the 09-35-41-11 well, Altima has agreed to deliver such documentation as is required to transfer to Whistler an undivided 50% Working Interest these three wells and a 50% working interest in Section 35-41-11 W5M upon the three wells being completed for production.
ON BEHALF OF THE BOARD
Joe DeVries, Director
BRIG_88
15 years ago
JOINT NEWS RELEASE
ALTIMA RESOURCES LTD.
TSX-V Symbol: ARH
Suite 303, 595 Howe Street
Vancouver, BC V6C 2T5
Telephone: (604) 718-2800
Fax (604) 718-2808
UNBRIDLED ENERGY CORPORATION
TSX-V Symbol: UNE
Suite 301, 2100 Georgetown Drive
Sewickley, PA 15143
Telephone: (724) 934 2340
Fax (724) 934 2355
Altima Resources Ltd. and Unbridled Energy Corporation
Announce Approval by the Shareholders of Unbridled Energy Corporation
of the Arrangement Transaction with Altima Resources Ltd.
February 5, 2010 - Vancouver, British Columbia โ Altima Resources Ltd. ("Altima") and
Unbridled Energy Corporation ("Unbridled") (Altima and Unbridled are collectively referred to as
the "Companies") announce that the shareholders of Unbridled approved of the plan of
arrangement (the โArrangementโ) between the Companies at a Special Meeting of the
shareholders of Unbridled held earlier today. The resolution approving the Arrangement was
approved by 99.89% of the votes cast at the meeting. Under the Arrangement, each one
common share of Unbridled will be exchanged for one common share of Altima. Further details
concerning the Arrangement can be found in the Information Circular of Unbridled dated
December 29, 2009 filed on SEDAR and available at www.sedar.com.
The completion of the Arrangement is subject to receipt of final court approval and final
acceptance by the TSX Venture Exchange. Assuming receipt of court approval is obtained, and
that all other conditions to the completion of the Arrangement are satisfied or waived, including
the final acceptance of the TSX Venture Exchange, the Arrangement is expected to become
effective on or about February 10, 2010.
BRIG_88
15 years ago
429501\ARRANGEMENT 2009\0152
JOINT NEWS RELEASE
ALTIMA RESOURCES LTD.
TSX-V Symbol: ARH
Suite 303, 595 Howe Street
Vancouver, B.C V6C 2T5
Telephone: 604-718-2800
Fax: 604-718-2808
UNBRIDLED ENERGY CORPORATION
TSX-V Symbol: UNE
Suite 301, 2100 Georgetown Drive
Sewickley, PA 15143
Telephone: 724-934-2340
Fax: 724-934-2355
Altima Resources Ltd. and Unbridled Energy Corporation
Announce Completion of Arrangement Transaction
February 11, 2010 โ Vancouver, British Columbia โ Altima Resources Ltd. (โAltimaโ) and Unbridled
Energy Corporation (โUnbridled) (Altima and Unbridled are collectively referred to as the โCompaniesโ)
are pleased to announce the completion of the plan of arrangement (the "Arrangement") between the
Companies. The completion of the Arrangement was subject to final court approval from the Supreme
Court of British Columbia and final acceptance by the TSX Venture Exchange, which were obtained on
February 9, 2010 and February 10, 2010, respectively.
As part of the Arrangement, Robert Penner has been appointed to the Board of Directors of Altima.
Further, Craig Steinke, E. Bernard Brauer and Richard Day have resigned from the Board of Directors of
Unbridled and Joe DeVries and Richard Switzer have been appointed to the Board of Directors of
Unbridled.
The Companies have requested that Unbridled be delisted from the TSX Venture Exchange.
Further details concerning the Arrangement can be found in the Information Circular of Unbridled dated
December 29, 2009 filed on SEDAR and available at www.sedar.com.