Altima Resources Ltd. announced that the Company has successfully closed on the acquisition and transfer of a key pipeline (the Pipeline) in the Company's core oil producing area of Red Earth Alberta (the North Panny Field). The 9.2 kilometers Pipeline ties the Company's central battery at 3-8-96-5 W5M in the Blue Sky Resources processing facility at 3-11-96-6 W5M. Altima holds an average Working Interest of 81% in seven (7) wells (the Wells) in the North Panny Field, three (3) Wells are located in Twp.

95, Rge. 5 W5M, three (3) Wells in Twp.96, Rge. 4W5M and one (1) well is located in Twp.

96, Rge. 5 W5M. These Wells are long life assets with a combined production of approximately 115 bopd.

The Company has initiated the process of sequentially placing these Wells back into production, which are connected to the Altima 8-3 central battery and flow through the Pipeline to the 3-11 Blue Sky processing facility and market hub. The new Pipeline will provide the Company sustainable, year-round production capability from the North Panny Field. With the Company greatly reducing its operating costs through the acquisition of the Pipeline, Altima will complete an evaluation for on-stream potential with (5) five additional wells (the Expansion Wells) also located in North Panny Field to determine the feasibility of working over, tying in and/or the re-completion of the Expansion Wells for additional production.

The Expansion Wells are expected to have a combined initial production of approximately 40 bopd. One of the Expansion Wells is slotted as a potential water disposal well to further decrease operation costs.