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Altima Resources Ltd. has reported that the Altima Chambers 5-35-41-11 W5M well was drilled to a Total Depth of 3,158 meters Measured Depth, casing set to TD, and Rig Released on March 16, 2014.
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).
Rick Switzer, President and CEO reported: "The 5-35 well targeted multiple objectives. Preliminary log analysis indicates multiple horizons to be completed through fracture stimulation and the well is scheduled to be placed on production in Q2 2014. The 5-35 well will produce through a new 1.37 Km pipeline to be constructed in conjunction with new production facilities. The new line will tie into Altima's existing Chambers North production and gathering system."
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 84% in 14 of the 27 sections and varying interests in eleven (11) wells.
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