Altima Resources Ltd Stock (ARH.V)

Company description

Altima Resources Ltd logo Altima Resources Ltd. is engaged in the acquisition, exploration and development of petroleum and natural gas properties. During the fiscal year ended December 31, 2011, it continued with the expansion, exploration and development of its Chambers Area Project in west central Alberta, Canada and the Rainbow Lake Area of northwestern Alberta, Canada. Its exploration program is focused on both conventional and resource based deeper multi-zone gas and gas condensate targets in the Chambers Area of the west central Alberta Deep Basin. As of March 27, 2012, its contiguous land base at Chambers-Ferrier totals 24 sections (15,360 gross acres) with an approximate average working interest of 82% in 17 of the 24 sections (100% in 11 sections) and varying interests in seven wells. On February 28, 2012, the drilling and evaluation of the vertical pilot hole to a depth of 3,147 meters was completed. On March 13, 2012, it completed the drilling of the horizontal portion of the hole to 4280 meters.

People involved

Fullname Position
James O'Byrne Chairman of the Board
Richard Switzer President, Chief Executive Officer, Director
Richard Barnett Chief Financial Officer, Secretary
Joe DeVries Director
Stephen Watts Independent Director