Altima Completes Red Earth Property Acquisition and Provides August Workover and Production Results
Altima Energy (TSXV: ARH) (OTC: ARSLF) has completed the acquisition of the Red Earth Property in Northern Alberta for CAD $1,050,000. The property is strategically located near Altima's existing Red Earth assets.
The company's August workover program has successfully enhanced production and reduced operating costs. Total production reached 5,126 barrels of oil in August from combined new and existing assets. Altima continues efforts to increase production at both Red Earth Assets and Richdale fields.
Due to technical issues, the company's audited financial statements and related documents for the periods ending February 28, 2025, and May 31, 2025, remain pending. Consequently, a cease trade order remains in effect, and trading of company securities remains suspended.
Altima Energy (TSXV: ARH) (OTC: ARSLF) ha completato l'acquisizione della proprietà Red Earth nel Nord dell'Alberta per CAD $1.050.000. La proprietà è strategicamente situata vicino agli asset Red Earth già in portafoglio di Altima.
Il programma di intervento di agosto dell'azienda ha aumentato significativamente la produzione e ridotto i costi operativi. La produzione totale ha raggiunto 5.126 barili di petrolio ad agosto tra i nuovi asset e quelli esistenti. Altima continua gli sforzi per aumentare la produzione sia nelle Red Earth Assets sia nei campi Richdale.
Per problemi tecnici, i bilanci certificati e i documenti correlati per i periodi terminanti il 28 febbraio 2025 e il 31 maggio 2025 restano in sospeso. Di conseguenza, è in vigore un'ordinanza di sospensione delle negoziazioni e il trading delle security dell'azienda resta sospeso.
Altima Energy (TSXV: ARH) (OTC: ARSLF) ha completado la adquisición de la propiedad Red Earth en el norte de Alberta por CAD $1,050,000. La propiedad está estratégicamente ubicada cerca de los activos Red Earth de Altima.
El programa de intervención de agosto ha mejorado con éxito la producción y reducido los costos operativos. La producción total alcanzó 5,126 barriles de petróleo en agosto, procedentes de activos nuevos y existentes. Altima continúa sus esfuerzos para aumentar la producción en los activos Red Earth y en los campos Richdale.
Debido a problemas técnicos, los estados financieros auditados y los documentos relacionados para los períodos que terminan el 28 de febrero de 2025 y el 31 de mayo de 2025 siguen pendientes. En consecuencia, continúa vigente una orden de cesación de operaciones y la negociación de valores de la empresa permanece suspendida.
Altima Energy (TSXV: ARH) (OTC: ARSLF)가 노던 앨버타의 Red Earth 자산에 대한 인수를 CAD $1,050,000으로 완료했습니다. 이 자산은 Altima의 기존 Red Earth 자산 근처에 전략적으로 위치해 있습니다.
8월 작업 재가동 프로그램은 생산을 크게 향상시키고 운영 비용을 감소시켰습니다. 8월의 총 생산량은 신규 자산과 기존 자산을 합쳐 5,126배럴의 원유를 달성했습니다. Altima는 Red Earth 자산과 Richdale 필드 양쪽의 생산 증가를 계속 추진하고 있습니다.
기술적 문제로 인해 2025년 2월 28일 및 2025년 5월 31일로 마감되는 기간의 감사재무제표 및 관련 서류가 보류 중입니다. 결과적으로 매매 중단 명령이 계속 발효 중이며 회사의 증권 거래는 중단 상태입니다.
Altima Energy (TSXV: ARH) (OTC: ARSLF) a finalisé l'acquisition de la propriété Red Earth dans le nord de l'Alberta pour CAD 1 050 000 $. La propriété est stratégiquement située à proximité des actifs Red Earth existants d'Altima.
Le programme d'intervention d'août de l'entreprise a amélioré avec succès la production et réduit les coûts opérationnels. La production totale a atteint 5 126 barils de pétrole en août, provenant des nouveaux actifs et des actifs existants. Altima poursuit ses efforts pour augmenter la production sur les actifs Red Earth et les champs Richdale.
En raison de problèmes techniques, les états financiers audités et les documents connexes pour les périodes se terminant le 28 février 2025 et le 31 mai 2025 restent en attente. Par conséquent, un ordre de cessation des échanges reste en vigueur et la négociation des titres de l'entreprise demeure suspendue.
Altima Energy (TSXV: ARH) (OTC: ARSLF) hat den Erwerb der Red Earth Immobilie in Nord-Alberta für CAD $1.050.000 abgeschlossen. Die Immobilie liegt strategisch nahe den bestehenden Red Earth Vermögenswerten von Altima.
Das August-Werkstattprogramm hat die Produktion erfolgreich erhöht und die Betriebskosten gesenkt. Die Gesamtproduktion betrug im August 5.126 Barrel Öl aus neuen und bestehenden Vermögenswerten. Altima setzt seine Bemühungen fort, die Produktion sowohl bei Red Earth Assets als auch bei den Richdale-Feldern zu steigern.
Aufgrund technischer Probleme bleiben die geprüften Geschäftsjahresabschlüsse und zugehörigen Unterlagen für die Zeiträume zum 28. Februar 2025 und zum 31. Mai 2025 ausstehend. Folglich bleibt eine Handelsstopp-Verfügung in Kraft, und der Handel mit Wertpapieren des Unternehmens ist ausgesetzt.
Altima Energy (TSXV: ARH) (OTC: ARSLF) أكملت الاستحواذ على ملكية Red Earth في شمال ألبرتا مقابل CAD $1,050,000. تقع الملكية بشكل استراتيجي بالقرب من أصول Red Earth الحالية لدى Altima.
ساعد برنامج إعادة العمل في أغسطس على تعزيز الإنتاج بنجاح وتقليل تكاليف التشغيل. بلغ إجمالي الإنتاج 5,126 برميلاً من النفط في أغسطس من أصول جديدة وقائمة.
بسبب مشاكل فنية، تبقى البيانات المالية المدققة والوثائق ذات الصلة للفترات المنتهية في 28 فبراير 2025 و31 مايو 2025 معلقة. وبناءً عليه، ما زالت أمر حظر التداول ساري المفعول، وتظل تجارة أوراق الشركة معطلة.
Altima Energy (TSXV: ARH) (OTC: ARSLF) 已完成对北部阿尔伯塔省 Red Earth 资产的收购，金额为 CAD $1,050,000。该资产地理位置对 Altima 现有的 Red Earth 资产具有战略意义。
公司八月的生产提升计划已成功提高产量并降低运营成本。八月总产量达到 5,126 桶原油，来自新资产和现有资产的综合结果。Altima 将继续努力提高 Red Earth 资产和 Richdale 区域的产量。
由于技术问题，截至 2025 年 2 月 28 日和 2025 年 5 月 31 日止期间的经审计财务报表及相关文件仍在待处理。因此，停止交易令仍在生效，公司证券交易仍然暂停。
- Successful completion of Red Earth Property acquisition for CAD $1,050,000
- Production reached 5,126 barrels of oil in August
- Workover program successfully enhanced production and lowered operating costs
- Strategic expansion with assets in close proximity to existing operations
- Cease trade order remains in effect due to delayed financial statements
- Trading of company securities remains suspended
- Technical issues preventing completion of required audit documents
Vancouver, British Columbia--(Newsfile Corp. - September 17, 2025) - Altima Energy Inc. (TSXV: ARH) (OTC: ARSLF) ("Altima" or the "Company") reports that it has completed its arms-length acquisition and integration of the Red Earth Property in Northern Alberta (the "Red Earth Acquisition") which is located in close proximity to the Company's existing Red Earth assets (collectively, the "Red Earth Assets") for a total consideration of CAD
Workover and Production Update
In August, Altima advanced its workover program (the "Workovers") which focused on recommencing production in its existing facilities and individual wells. The Workovers have been successful at both, enhancing production output and lowering operating costs.
As a result of the Workovers and the initiation of production on its Red Earth Acquisition, the Company produced 5,126 barrels of oil (818m3) in the month of August from its new and existing assets. The Company continues to build on this progress, with further efforts underway to increase production in both, its Red Earth Assets and its Richdale fields.
Audited Financial Statements Update
The Company continues to work on completing its audited annual financial statements, management's discussion and analysis, in addition to its NI 51-101 disclosure for the year ended February 28, 2025 and the quarter ended May 31, 2025. Due to continued technical issues, the Company has been unable to complete all documents necessary to complete the audit, the technical experts believe that these issues will be resolved soon. As a result of these delays, the cease trade order instituted by the TSX Venture Exchange remains in affect and trading in the Company's securities remain suspended.
About Altima Energy Inc.
Altima Energy is a Vancouver-headquartered oil and gas exploration and production company with a strategic focus on unlocking the potential of hydrocarbon assets across North America. Committed to efficient resource development, Altima combines cutting-edge technology and industry expertise to drive operational excellence and deliver sustainable growth. With a focus on long-term value creation, Altima is dedicated to enhancing returns for its shareholders while maintaining a disciplined approach to asset management.
ON BEHALF OF THE BOARD
SIGNED: "Richard Barnett"
Richard Barnett; CFO
Email: info@altimaenergy.com
T: 1-604-336-8610
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.
Forward Statements:
Certain information set out in this news release constitutes forward-looking information. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe" and similar expressions. In particular, this news release contains forward-looking statements in respect of among other things, the timing of filing of the Company's Required Filings, and Company's compliance with the MCTO and NP 12-203, the expected closing of the private placement and the expected acquisition of a Red Earth property. In particular, this news release contains forward-looking information relating to the anticipated date for filing the annual financial statements for the year ended February 28, 2025, related management's discussion and analysis, and related certifications for the financial year ended February 28, 2025, in addition to its NI 51-101 Disclosure for Oil & Gas Activities for the financial year ended February 28, 2025. Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in certain cases, information provided or disseminated by third parties. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, risk factors set forth in the Company's most recent management's discussion and analysis under the heading "Risk and Uncertainties", a copy of which is filed on SEDAR Plus, at www.SEDARplus.ca, and readers are cautioned that the risk factors disclosed therein should not be construed as exhaustive. These statements are made as at the date hereof and unless otherwise required by law, the Company does not intend, or assume any obligation, to update these forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/266786
FAQ
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