Altura Energy Inc. provided an operations update which includes results from a horizontal well drilled in a new Upper Mannville oil pool in the Leduc-Woodbend area of Alberta and a new Sparky oil prospect in the Macklin area on the Alberta/Saskatchewan border. New Upper Mannville Oil Pool at Leduc-Woodbend: In the third quarter of 2016, Altura drilled and completed an Upper Mannville oil well in the Leduc-Woodbend area of Alberta which represents a new Upper Mannville oil pool for the corporation. There are approximately 700 vertical wells drilled in the area that provide a means to identify and map the hydrocarbon accumulation. The region has extensive gas gathering infrastructure with year-round access. The 100/13-15-048-26W4 horizontal exploration well was drilled in the southern region of the pool to a true vertical depth of 1,375 meters. The one-mile horizontal well was completed with a multi-stage hydraulic fracture stimulation. Drilling and completion costs totaled $1.7 million. The well was placed on production in the fourth quarter and the initial production rates over the first 30 and 45 producing days (IP30 and IP45 rates) are 230 boe per day and 210 boe per day, respectively, of 17° API oil, at an average water cut of 68% and gas/oil ratio of 500 scf/bbl (approximately 93% oil and liquids). The well is currently producing 160 boe per day, based on field estimates. There is no evidence at this time of an underlying water aquifer; however, the Corporation expects water saturations to vary across the pool. The corporation has accumulated 50 sections of 100% WI land in the estimated pool. The land holding is comprised of approximately 50% freehold and 50% Crown leases. Overall, this land was acquired at an average cost of $80 per acre. Altura has licensed a second well and is expected to spud in late January 2017. This well has an estimated drilling and completion cost of $1.8 million. This new oil pool is at a very early stage of development and there is no certainty that it will be commercially viable to produce. Initial well production rates may not be indicative of longer term rates, and pool parameters may be adjusted as new data emerges. Altura will continue to assess the prospect and delineate the opportunity. New Sparky Oil Prospect at Macklin: Through various transactions the Corporation added 6.5 sections of land at a 100% WI for a Sparky oil prospect in the Macklin area on the Alberta/Saskatchewan border. The corporation expects to drill a horizontal well on this prospect in the first quarter of 2017.