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Last C$0.02 CAD
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ARH On Other Exchanges
As of 12:54 PM 07/30/15 All times are local (Market data is delayed by at least 15 minutes).

altima resources ltd (ARH) Snapshot

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07/31/14 - C$0.07
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altima resources ltd (ARH) Details

Altima Resources Ltd., a junior energy company, engages in the exploration and development of petroleum and natural gas properties in Western Canada. The company focuses on both conventional and resource based deeper multi-zone gas and gas condensate targets in the Chambers-Ferrier area of the west central Alberta Deep Basin. As of August 31, 2014, it had a land base of 27 sections covering an area of approximately 17,280 gross acres in Chambers-Ferrier area. The company was incorporated in 2003 and is headquartered in Vancouver, Canada.

Founded in 2003

altima resources ltd (ARH) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: --
Chief Financial Officer and Secretary
Total Annual Compensation: --
Compensation as of Fiscal Year 2014.

altima resources ltd (ARH) Key Developments

Altima Resources Ltd. Enters into Second Amending Agreement the Participation and Joint Venture Agreement and First Amending Agreement with Whistler Oil and Gas Pty. Ltd

Altima Resources Ltd. announced that it has entered into a second amending agreement the participation and joint venture agreement and first amending agreement with Whistler Oil and Gas Pty. Ltd. The JV agreement provides that Whistler was granted the right to earn a 50% working interest in three conventional vertical wells that were to be drilled on the company's currently held oil and gas leases located in the Chambers-Ferrier area of Alberta. The amending agreement provides that whistler agreed that $6,750,000 in additional funds for the drilling of the 05-35-41-11 W5M and the 09-35-41-11 W5M vertical wells were provided. Of the additional investment, $5,019,961 was expended on the drilling of the 05-35-41-11 W5M well and the development of the JV agreement and that the balance of funds in the amount of $1,730,039 advanced shall be utilized as a loan from Whistler to Altima to be repaid with accrued interest at 12% per annum, commencing the 1st of April 2015 paid quarterly with the first payment due June 30, 2015, and have a maturity date of November 30, 2017. Pursuant to the amending agreement, Altima shall utilise 60% of its proportionate share of any net revenue received from its 03-17-041-11W5/2 well in Chambers, Alberta towards payment of interest and the repayment of the principal of the loan. Additionally, Whistler shall be granted a 10% WI in the 3-17 and Section 17. Under the JV agreement, Whistler had the right to earn a 50% interest in Section 35 in addition to any wells financed. As consideration for the loan, Altima agrees to initiate the transfer of the 50% working interest and consider it earned based on the work completed to date, and will work to expeditiously to transfer and register the Whistler interest in Section 35 and the 5-35 and 15-35 wells.

Altima Resources Ltd. Auditor Raises 'Going Concern' Doubt

Altima Resources Ltd. filed its Annual on Mar 30, 2015 for the period ending Nov 30, 2014. In this report its auditor, Davidson & Company, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Altima Resources Ltd., Annual General Meeting, May 12, 2015

Altima Resources Ltd., Annual General Meeting, May 12, 2015., at 09:30 Pacific Daylight. Location: Suite 303-595 Howe Street. Agenda: To receive the report of the directors; to receive the audited financial statements of the company for the fiscal period ended November 30, 2014, together with the auditor's report thereon; to fix the number of directors at five; to elect directors for the ensuing year; to appoint the auditor for the company; to authorize the Directors to fix the remuneration to be paid to the auditor; and to transact such other business as may be brought before the meeting.


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