Altima Resources Ltd.
TSX VENTURE : ARH
FRANKFURT : AKC

Altima Resources Ltd.

March 10, 2010 14:52 ET

Altima Announces Sale of Oil and Gas Interests in New York, USA

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 10, 2010) - Altima Resources Ltd. (TSX VENTURE:ARH)(FRANKFURT:AKC) ("Altima" or the "Company") is pleased to announce the completion of the sale of a non-core portion of its recently acquired interests in certain oil and gas producing properties. These assets, located in Chautauqua County, New York, were owned by a subsidiary company of Unbridled Energy Corporation ("Unbridled"), and were acquired on closing of the Arrangement between the Company and Unbridled (see News Release dated February 11, 2010). Proceeds of US$1,400,000 were applied against Unbridled's secured debt with the Huntingdon Bank.

This sale is part of the Company's strategic plan to divest of all non-core oil and gas assets, allowing the Company to focus on its core properties located in the Chambers area of West-Central Alberta.

ON BEHALF OF THE BOARD

Joe DeVries, Director 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Altima Resources Ltd.
    Joe DeVries
    Director
    (604) 718-2800
    (604) 718-2808 (FAX)