Altai Resources Inc.
TSX VENTURE : ATI

Altai Resources Inc.

March 21, 2007 10:22 ET

Altai Resources Inc. Announces Results of Test Well on Sorel-Trois Rivieres Oil and Gas Property

TORONTO, ONTARIO--(CCNMatthews - March 21, 2007) - Altai Resources Inc. (TSX VENTURE:ATI) (Sec. Rule 12g3-2(b) File # 82-2950) ("Altai") announces that the first well (test well) drilled by Talisman Energy Canada ("Talisman") on its Sorel-Trois Rivieres, Quebec oil and gas permit did not encounter commercial amount of gas. The well was drilled to a total measured depth of 1,294 meters or 1,262 meters vertical depth.

The test well was drilled on a seismically defined feature in an attempt to find a structure that is similar to other Ordovician Trenton-Black River producing trends in the province of Ontario and New York State. In Altai's opinion there may be very good exploration potential located along the feature on Altai's permits. Questerre Energy Corporation's recent announcement pointing to the presence of Trenton-Black River gas in a well located east of Altai's permits in the St. Lawrence Lowlands indicates that gas may be present in the region.

Altai is presently carrying out a seismic reflection survey on the Sorel Islands, the portion of its permits which are not under option to Talisman. The survey is orientated to shallow (less than 150 meters) gas targets in recent sediments.

ALTAI RESOURCES INC. IS AN EXPLORATION COMPANY WITH A PORTFOLIO OF OIL AND GAS, GOLD, NICKEL AND INDUSTRIAL MINERALS PROPERTIES IN CANADA AND THE PHILIPPINES.

We Seek Safe Harbour.

TSX Venture Exchange has neither approved nor disapproved the information contained herewith.

Contact Information

  • Altai Resources Inc.
    Niyazi Kacira
    President and CEO
    (416) 383-1328
    (416) 383-1686 (FAX)
    or
    Altai Resources Inc.
    Maria Au
    Secretary-Treasurer
    (416) 383-1328
    (416) 383-1686 (FAX)
    Email: info@altairesources.com
    Website: www.altairesources.com