Atikwa Resources Inc.

April 15, 2010 17:39 ET

Atikwa Announces Success at Land Sale

CALGARY, ALBERTA--(Marketwire - April 15, 2010) - Atikwa Resources Inc. ("Atikwa" or the "Company") (TSX VENTURE:ATK) is pleased to announce that it has successfully completed its land acquisition program in the Winfall area of Alberta. The Company is targeting a large resource in place, liquids rich, natural gas play. At the recent Crown land sale Atikwa was successful in acquiring an additional four sections which are contiguous to its current three section block. With the addition of one stand alone section that was acquired at a previous land sale, the Company now holds a total of eight sections. Five sections are held at a I00% working interest and three sections are held at a 90% working interest.

With the application of horizontal and multi stage fracturing technology the Company believes that this play has the potential to be able to support a significant multi well program, targeting high deliverability, liquids rich natural gas with stable long life reserves. In addition, due to the existing infrastructure and pipelines in the area, the improved Alberta royalty regime and the liquids rich nature of the gas, the Company believes that the economics of the program are very attractive at, or even below, the current natural gas prices.

The Winfall program represents the third in a series of large Original Oil in Place (OOIP) and (OGIP) Original Gas in Place resource programs that the Company is focusing on. The other two include a Bakken light oil play in Saskatchewan and a Spearfish/ Alida light oil play in Manitoba.

Forward-Looking Statements: All statements, other than statements of historical fact, set forth in this news release, including without limitation, assumptions and statements regarding reservoirs, resources and reserves, future production rates, exploration and development results, financial results, and future plans, operations and objectives of the Company are forward-looking statements that involve substantial known and unknown risks and uncertainties. Some of these risks and uncertainties are beyond management's control, including but not limited to, the impact of general economic conditions, industry conditions, fluctuation of commodity prices, fluctuation of foreign exchange rates, environmental risks, industry competition, availability of qualified personnel and management, availability of materials, equipment and third party services, stock market volatility, timely and cost effective access to sufficient capital from internal and external sources. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable by the Company at the time of preparation, may prove to be incorrect. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

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

  • Atikwa Resources Inc.
    Sean Kehoe
    President and CEO
    (403) 233-6073