When Altima set out in March 2006 to acquire certain interests and participate in the drilling of a Mississippian Elkton test well located in the Chambers Area of the West-Central Alberta Deep Basin, the Board and Management set out to create a strong Junior exploration and production company with the goal of building significant shareholder value.

Altima is a junior energy company engaged in the exploration and development of petroleum and natural gas in Western Canada. The Company focuses on new long life petroleum and natural gas prospects in select core areas to grow its reserve base through drilling and strategic acquisitions.

A strong junior exploration and producing sector is extremely important to Canada's oil and gas industry. This sector has historically driven a great deal of growth. Junior exploration and production companies have found niche opportunities to establish and grow their companies.

The Company's capital programs are directed to the acquisition of existing prospects that have strong dependable cashflow, stand alone reliable economics and have the ability to increase oil and liquids while maintaining low F&D costs, The drilling of new wells, increasing the land base through acquisition or land sales, constructing gathering lines and production facilities and constructing permanent all weather access roads. Since the drilling of the initial 3-17-41-11W5M earning well the Company has:

• Acquired Crimson Energy Ltd. assets consist of the Red Earth oil property with production capabilities of approximately 125 barrels of oil per day along with an inventory of (4) four well reactivations and recompletions which are ready to be initiated and can be scheduled once freeze-up has occurred in the region. The COGL asset package also includes a number of smaller assets in Alberta and B.C.
• Acquired Central Alberta Oil and Gas Assets that are comprised of a number of non-operated working interests and non-operated facility interests with third party processing revenues. The working interest and processing facility interests are in or servicing very long-life wells and units, most of which have been producing for many decades and have historically produced very large volumes of oil and gas. The Assets have bookable reserves for well over a decade of continued production.
• Overall the Chambers play still continues to grow toward an opportunity to drill a significant number of wells. The Chambers project contains significant potential to rapidly grow cash flow and reserves through the redevelopment of both conventional and resourced based plays