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Altura Energy Corp. (TSXV: ALTU,OTC:ALTUF) (OTCQB: ALTUF) (FSE: Y020) ("Altura" or the "Company") is pleased to announce that it has returned the two wells worked over to date, PSOC 23-15 and PSOC 22-8, to production following work completed during the Company's 2025 field program. The flow rates are improving daily and final rates will be announced once wells have stabilized.
In addition, Altura has completed cased hole log analysis on three previously drilled wells. The analysis identified additional potential within the Shinarump formation, increasing the number of prospective workover candidates from six to seven wells. To advance the next phase of field activity, a workover rig arrived on site on June 11th and has commenced workovers on the remaining five prospective wells in Saddle Horse Draw.
"The successful return of production is only the first step in unlocking long-term value from the Pinta South Helium Field," said Ashley Lastinger, CEO of Altura. "With the log analysis having identified a seventh workover target and the rig on site, we are well positioned to accelerate helium production growth and field development."
All seven wells in the Saddle Horse Draw area are tied into the on-site helium processing facility by the eight-mile pipeline recently completed by the Company. Any helium produced from these wells will be sold through a long-term offtake agreement.
ABOUT Altura Energy CORP.
Altura Energy Corp. is a helium-focused exploration and production company advancing a portfolio of assets in Arizona's prolific Holbrook Basin. The Company is focused on developing a reliable domestic source of helium, a critical and non-renewable gas essential to applications in healthcare, semiconductor manufacturing, aerospace, and advanced technologies.
Altura is currently advancing its flagship project in the Holbrook Basin of Arizona, where existing infrastructure and recent operational milestones position the Company to commence near-term helium production. With helium concentrations significantly above those typically encountered in conventional natural gas reservoirs, Altura is working to unlock the value of one of North America's emerging helium districts.
For more information, please visit SEDAR+.
FOR FURTHER INFORMATION
On Behalf of the Board,
Ashley Lastinger, CEO
Investor Relations
KIN Communications Inc
604-684-6730
altu@kincommunications.com
Forward Looking Statements
Neither the 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 news release.
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements". Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company unlocking long-term value from the Pinta South Helium Field; the Company's produced helium being sold through a long-term offtake agreement; the Company's development of a reliable domestic source of helium; the advancement of the Company's flagship project in the Holbrook Basin and related benefits therefrom, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements, including, without limitation, risks that the Company may not unlock long-term value from the Pinta South Helium Field as contemplated, or at all; risks that the Company's produced helium will not be sold through a long-term offtake agreement as contemplated, or at all; risks that the Company may not develop a reliable domestic source of helium as contemplated, or at all; risks that the Company may not advance its flagship project in the Holbrook Basin as contemplated, or at all; and risks that the Company may not unlock the value of the helium district as contemplated, or at all, as well as such other risks as described in the Company's public disclosure as filed and available on the Company's SEDAR+ profile. Although the Company believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/301974
