Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/altima-agreement-for-rework-and-re-completion-of-3.shtmlAltima agreement for rework and re-completion of 3-17-41-11 W5M well
Altima Resources Ltd. has entered into a Participation Agreement with Acumen Energy Partners Inc. ("Acumen"),
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Altima Resources Ltd. has entered into a Participation Agreement with Acumen Energy Partners Inc. ("Acumen"), pursuant to which Acumen has been granted the right to earn a 20% working interest (the "Working Interest") in the 3-17-41-11 W5M well (the "Well") and section 17-41-11 W5M (the "Lands") located in the Chambers-Ferrier area of the Western Canada Sedimentary Basin, Alberta (the Well and Lands hereinafter referred to as the "Property").
To earn its Working Interest in the Property, Acumen has agreed to pay 100% of the funds (currently estimated at $1,100,000) required by Altima to re-enter and re-complete and place the Well back into production.
