Altura Energy Inc. Announces Closing of Strategic High Quality Low Decline Oil Assets in East Central Alberta

CALGARY, Sept. 14, 2016 /CNW/ – Altura Energy Inc. (“Altura” or the “Corporation”) (TSX Venture: ATU) is pleased to announce that it has closed its previously announced acquisition of high quality oil assets (the “Assets”) strategically located in east central Alberta for cash consideration of $4.0 million. The Assets add 125 boe/d of low decline production and include facility infrastructure and a natural gas pipeline for future growth.

ABOUT ALTURA ENERGY INC.

Altura Energy Inc. is a public oil and gas corporation active in the exploration and development of oil and natural gas in east central Alberta.

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Barrels of Oil Equivalent

The term barrels of oil equivalent (“boe”) may be misleading, particularly if used in isolation. Per boe amounts have been calculated by using the conversion ratio of six thousand cubic feet (6 mcf) of natural gas to one barrel (1 bbl) of crude oil. The boe conversion ratio of 6 mcf to 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalent of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.

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SOURCE Altura Energy Inc.