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Altima Provides Drilling Update

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Altima Resources Ltd. (ARH.V), which closed yesterday at a year low of 3 cents, reported that the BLZ et al DD Rainbow 13-11-111-05W6M well was drilled to a total depth of 1,732 meters and abandoned. Testing indicated the hydrocarbons encountered were not commercial at the subject location. Altima (24.80625%) and its partners control oil and gas rights on 3,040 acres in the Rainbow B2B pool area. Further evaluation and a technical review of the area will be conducted to determine if additional offset drilling is warranted.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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