Atikwa Resources Inc.

Atikwa Resources Inc.

November 04, 2011 08:00 ET

Atikwa Announces the Completion of Three New Wells in Manitoba

CALGARY, ALBERTA--(Marketwire - Nov. 4, 2011) - Atikwa Resources Inc. (TSX VENTURE:ATK) ("Atikwa" or the "Company) is pleased to report that it has completed the drilling and casing of three new horizontal wells targeting Spearfish light oil in the Pierson area of Manitoba. The recently completed 13-23, 6-24 and 15-30 wells were part of a three well program that the Company drilled throughout October and early November. Good hydrocarbon shows where encountered throughout the drilling of all three wellbores. The wells are scheduled to be fraced next week and put on production before the end of November.

The previous wells in the program continue to show strong inflow characteristics, with the recently fraced 14-13 well hitting a high of 128 barrels per day over the last 30 days. The Company is in the process of licensing two additional wells in the area, which it intends to drill before the end of the year. With the addition of those two wells the Company will have drilled a total of eight Spearfish wells in the area, 5.3 net.

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. 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.

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