Altima Completes Red Earth Property Acquisition and Provides August Workover and Production Results

Core Viewpoint - Altima Energy Inc. has successfully completed the acquisition of the Red Earth Property for CAD $1,050,000, enhancing its production capabilities and operational efficiency [1][3]. Group 1: Acquisition and Production - The Red Earth Acquisition is strategically located near Altima's existing assets, allowing for seamless integration and operational synergies [1]. - Following the acquisition, the company has commenced production from its collective assets, producing 5,126 barrels of oil (818 m³) in August [3]. Group 2: Workover Program - In August, Altima advanced its workover program, which successfully recommenced production in existing facilities and individual wells, leading to increased output and reduced operating costs [2][3]. Group 3: Financial Reporting - The company is in the process of completing its audited annual financial statements and related disclosures for the year ended February 28, 2025, but has faced delays due to technical issues [4]. - As a result of these delays, a cease trade order remains in effect, suspending trading in the company's securities [4]. Group 4: Company Overview - Altima Energy is focused on oil and gas exploration and production, aiming to unlock hydrocarbon asset potential across North America while maintaining a disciplined approach to asset management [5].