Stocks & Investing
Stocks and Investing
Stocks and Investing
Tue, January 8, 2013
Mon, January 7, 2013 Altai Announces the Closing of Oil Property Acquisition
January 07, 2013 11:45 ET
Altai Announces the Closing of Oil Property Acquisition
TORONTO, ONTARIO--(Marketwire - Jan. 7, 2013) -Altai Resources Inc. (TSX VENTURE:ATI) (US SEC Rule 12g3-2(b) File # 82-2950) ("Altai" or the "Company") is pleased to inform that the transaction for the acquisition of part interest in the Cessford Oil property, central Alberta has been finalized in December 2012. This is Altai's first venture into conventional oil exploration and production in Alberta as the Company diversifies its portfolio of investment. Project performance from April 1 to October 1, 2012 (for which the results have been reported by the operator) indicates that cash flow from this project is sufficient to pay for Altai's overhead expenses excluding the legacy costs of the Montreal office which was closed in May 2012. The Company is still paying for that office's leases of premises and equipment until February 2014.
ALTAI RESOURCES INC. IS A RESOURCE COMPANY WITH OIL AND GAS AND GOLD PROPERTIES IN CANADA.
We Seek Safe Harbour.
Neither 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.
