SOURCE: ATI Petroleum

October 04, 2007 10:00 ET

ATI Petroleum : ATI Petroleum wins two major uranium blocks, prepares for exploration of uranium assets in Niger

PARIS--(Marketwire - October 4, 2007) - ATI Petroleum Ltd. (ATIP), an exploration and production company in petroleum and uranium properties, will begin exploration of its Tassedet blocks this year.

The Board of Directors of ATI Petroleum Ltd. ("ATIP" and the "Company") will float additional shares of ATIP stock this week in order to raise funds for its exploration and development commitments to uranium resources in Niger.

The Company's licenses are for Tassedet Blocks 3 and 4, which encompass a total of 1,973.4 sq. km. (487,638 acres) in Niger's Tim Mersosî basin. These ATIP properties are flanked on the south and east by exploration and development blocks controlled by some of the largest uranium concerns in the world: Areva, Rio Tinto, and China Nuclear.

ATIP management's negotiations with a major producer as partner are proceeding quickly, according to Dr. Huu Duc Dinh, ATIP Chairman and CEO. "We expect to bring them on board quickly and starting the exploration phase by the end of the year," said Dinh.

Niger is fourth in the world in uranium production and proven reserves. However, based on Ministry of Mining statistics, only 10% of the country's territory has been surveyed and subjected to reserve calculations. With 90% of the country left to survey, a reasonable trend is that the country may have the largest reserves in the world. The result is that there will be a long-term demand for nuclear fuel.

With the current decline of fossil fuel as an energy source, and with the advent of global warming, alternative energy sources are not large enough for a commercial scale of production that can support the world's growing economies. The only exception to this is nuclear power, now that the industry has reached technical and cost maturity. ATIP is a unique company that provides a bridge of clean energy resource solutions for the future, combining oil and gas with uranium to help ensure the steady growth of the world's economy.

Business Strategy

ATIP business strategy is to acquire critical energy resource properties on advantageous terms, and to hold, explore, develop, operate and manage those properties through partnerships, joint ventures and strategic relationships with other development companies.

ATIP is an energy exploration company that holds, explores, develops, operates and manages petroleum and uranium properties. ATIP's sister company, American Technologies, Inc. (ATI), a 17-year old energy consulting firm based in Oak Ridge, Tennessee, U.S.A., provides energy, engineering and environmental remediation services to governments in developing countries.

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Contact Information

  • Further information

    ATI Petroleum:
    Paris, France:
    Ronald Sullivan
    +33 06 99 16 95 63
    Hanoi, Vietnam:
    David Yee
    +84 09 15 02 05 03
    Oak Ridge, TN USA:
    Michael Lindsey
    +1 865 481 53 71
    Actifin, Financial PR Consultant:
    + 33 1 56 88 11 11
    Ségolène de Saint Martin
    Emilie Dèbes