NY SaleAltima Announces Sale of Oil and Gas Interests in New York, USA
VANCOUVER, BRITISH COLUMBIA, Mar 10, 2010 (MARKETWIRE via COMTEX News Network) --
Altima Resources Ltd. (TSX VENTURE: ARH)(FRANKFURT: AKC) ("Altima" or the "Company") is pleased to announce the completion of the sale of a non-core portion of its recently acquired interests in certain oil and gas producing properties. These assets, located in Chautauqua County, New York, were owned by a subsidiary company of Unbridled Energy Corporation ("Unbridled"), and were acquired on closing of the Arrangement between the Company and Unbridled (see News Release dated February 11, 2010). Proceeds of US$1,400,000 were applied against Unbridled's secured debt with the Huntingdon Bank.
This sale is part of the Company's strategic plan to divest of all non-core oil and gas assets, allowing the Company to focus on its core properties located in the Chambers area of West-Central Alberta.
ON BEHALF OF THE BOARD
Joe DeVries, Director
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.
Contacts: Altima Resources Ltd. Joe DeVries Director (604) 718-2800 (604) 718-2808 (FAX)
SOURCE: Altima Resources Ltd.
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