Atikwa Minerals Corporation

Atikwa Minerals Corporation

September 10, 2009 09:00 ET

Atikwa Minerals Corporation Announces Results of Exploratory Natural Gas Well

CALGARY, ALBERTA--(Marketwire - Sept. 10, 2009) - Atikwa Minerals Corporation ("Atikwa" or the "Company") (TSX VENTURE:ATK) is pleased to announce that it has participated in the drilling of a successful new pool wildcat, liquids rich, natural gas well.

During testing, the well flowed at rates of up to 6.9 mmcf/day of raw gas (1150 boe/d), at a surface pressure of 620 psi, and recovered a total gas volume of 13 mmcf, over a period of 48 hrs. The well also produced some oil, during the test period.

The Company believes the preliminary pressure test analysis is encouraging, and the well appears capable of sustained high production rates, but will be produced at a restricted rate of around 1 to 2 mmcf/day, subject to third party plant capacity.

The Company participated in a farm-in, with a private Alberta company, for a 25% working interest in the well. The well will qualify for the "Alberta New Well Incentive Program", which provides a maximum 5% Crown royalty rate during the first full year of production.

This news release contains forward-looking statements relating to the Company's plans and other aspects of the Company's anticipated future operations, strategies, financial and operating results and business opportunities. Forward-looking statements typically use words such as "anticipate", "believe", "project", "expect", "plan", "intent" or similar words suggesting future outcomes, statements that actions, events or conditions "may", "would", "could" or "will" be taken or occur in the future, or consists of statements regarding estimates of future production, operating costs or other expectations, beliefs, plans, objectives, assumptions or statements about future events or performance. Statements regarding reserves are also forward-looking statements, as they reflect estimates as to the expectation that the deposits can be economically exploited in the future.

Although the Company believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements and you should not unduly rely on forward-looking statements. The forward-looking statements contained in this news release are made as the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

The term barrels of oil equivalent ("boe") may be misleading, particularly if used in isolation. A conversion ratio for gas of 6 mcf: 1 boe is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

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 Minerals Corporation
    Sean Kehoe
    President and CEO
    (403) 233-6073