Altai Resources Inc V.ATI

Alternate Symbol(s): ARSEF

Energy Oil & Gas E&P

Altai Resources Inc. is a Canada-based resource company with a producing oil property in Alberta and an exploration gold property in Quebec. The Company has approximately 50% net working interest in an oil producing property in southern Alberta and 50% net working interest in a gold property in the Malartic Township, Quebec, which is at an early stage of development. The Company's properties are located in Canada. The Company has 50% working interest in approximately 240 acres of Alberta Crown leases in the Cessford area of southern Alberta. The 50%-owned Malartic gold property (named Blackcliff gold property by joint-venture partner and operator, Globex Mining Enterprises Inc.) consists of six map designated claims (CDC) totaling approximately 127.6 hectares (315 acres) in the Malartic Township, Val d’Or area, Quebec, approximately five kilometers (km) north-east of the town of Malartic and the Canadian Malartic mine which is Canada's largest gold mine.

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Altai Resources Inc

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Post by vlad2bon Dec 21, 2009 8:07am

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Post# 16606301

Marcellus shale valuation

Ultra Petroleum to buy Marcellus shale acreage

I noticed the following this morning on Marketwatch:

NEW YORK (MarketWatch) -- Ultra Petroleum Corp. /quotes/comstock/13*!upl/quotes/nls/upl (UPL51.06, +1.21, +2.43%) said it'll pay $400 million to buy 80,000 acres in the PennsylvaniaMarcellus shale, from an unnamed private company. Following theacquisition, Ultra Petroleum will hold approximately 250,000 net acresin this region, with the potential for 1,800 net drilling locations.Ultra Petroleum will finance the acquisition using debt. TheHouston-based natural gas producer expects the transaction to close inlate February 2010.

This has implications for valuation of the Utica shales, n'est-ce-pas?

Best wishes to all,

Joel

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