Altima Resources Ltd.
TSX VENTURE : ARH

Altima Resources Ltd.
Unbridled Energy Corporation
OTC Bulletin Board : UNEFF
TSX VENTURE : UNE
FRANKFURT : O4U

Unbridled Energy Corporation

December 16, 2009 17:10 ET

Altima Resources Ltd. and Unbridled Energy Corporation: Participation Agreement to Spend Flow Through Funds in the West Ferrier Area of West Central Alberta

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 16, 2009) - Altima Resources Ltd. (Altima) (TSX VENTURE:ARH) and Unbridled Energy Corporation (Unbridled) (TSX VENTURE:UNE)(OTCBB:UNEFF)(FRANKFURT:O4U) have concluded a participation arrangement with Crimson Energy Ltd. (Crimson) in the West Ferrier area Twp 40-41 Rge 10 W5M of west central Alberta. The arrangement provides for the fracture stimulation, completion, and testing of multiple zones in Crimson's drilled and cased well in 41-10 W5M that are indicated to be gas bearing based upon log and initial test information. Upon Altima and Unbridled fulfilling their respective obligations under the participation agreement, the companies will be assigned a working interest to the base of the Mannville formation of 12.375% and 6.9795% respectively, and also assigned a working interest of 7.5% and 4.23% respectively, below the base of the Mannville in three sections of joint lands and two wells. This assignment would result in the combined companies having an interest in 27 sections (17,280 gross acres) and an interest in seven wells in the Chambers – Ferrier West region of west central Alberta.

Fracture stimulation of the three zones is underway and is anticipated to be completed prior to year end. The well is located approximately 300 meters from a regional gas transportation pipeline. Arrangements are being made to tie into this system. It is anticipated that production will commence in the second quarter of 2010.

ON BEHALF OF THE COMPANIES

Altima Resources Ltd.
"Richard Switzer"
Richard W. Switzer, President
Unbridled Energy Corporation
"J. Michael Scureman"
J. Michael Scureman, Chief Executive Officer

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and within the meaning of applicable Canadian provincial securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the terms and conditions of the proposed Transaction. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Unbridled and Altima disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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.
    Richard W. Switzer
    President
    (604) 718-2800
    (604) 718-2808 (FAX)
    pubco@altimaresources.com
    or
    Unbridled Energy Corporation
    J. Michael Scureman
    Chief Executive Officer
    (724) 934-2340
    (724) 934-2355 (FAX)
    mikes@unbridledenergy.com