VANCOUVER, BRITISH COLUMBIA–(Marketwired – June 17, 2013) – Altima Resources Ltd. (TSX VENTURE:ARH)(PINKSHEETS:ARSLF)(FRANKFURT:AKC) announces regarding operations on the Altima Chambers 14-35-41-11 W5M well (refer to News Releases dated May 16, 2013), that fracture stimulation operations were completed on June 16, 2013. Completion operations, which commenced on May 12th, were curtailed over the period May 24th through June 11th due to weather conditions. The Company will now proceed with production testing of the comingled reservoirs followed by reservoir build up evaluations. Production pipelining is scheduled to commence in early July with anticipated first production in August.
The 14-35 well is the first well drilled under Altima’s Participation Agreement with Whistler Oil and Gas Pty. Ltd., and is located approximately 5km to the north of the COPOL ET AL HZ CHAMBERS 14-15-41-11 W5M well that was drilled and completed in 2012. On April 3, 2013, Altima expanded its acreage position at Chambers-Ferrier with the successful acquisition of six sections. Altima acquired the new lands on an equal basis with Whistler Oil and Gas Pty. Ltd.
In addition, the Company announces that all matters set before shareholders at its Annual General and Special Meeting held June 17, 2013 were approved, including ratification and approval to an amendment of the Company’s Articles. Please refer to the Company’s profile on SEDAR (www.sedar.com) for a copy of the amended Articles.
Richard Switzer, CEO, President and a Certified Professional Geologist, is the Qualified Person under National Instrument 51-101 responsible for preparing and reviewing the technical data contained in this press release.
ON BEHALF OF THE BOARD
Joe DeVries, Director
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s plans or expectations include risks relating to: availability of capital and financing required to continue the Company’s exploration and development plans; general economic, market or business conditions; the actual results of current and planned exploration activities; fluctuating commodity prices; risks associated with property option agreements, leases, joint ventures and the ability to conclude joint venture agreements on favorable terms; possibility of accidents, equipment breakdowns and delays during exploration; exploration cost overruns or unanticipated costs and expenses; regulatory changes and restrictions including in relation to environmental liability; timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly 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 otherwise required by applicable securities legislation.
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.
Altima Resources Ltd.
(604) 718-2808 (FAX)