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By OGJ editors
HOUSTON, Mar. 24
– Altai Resources Inc., Toronto, said a consulting geological engineer’s conclusions in a report on the company’s 2009 seismic survey in Quebec’s St. Lawrence Lowlands contains sufficient information to plan a drilling program of at least two wells.

The engineer estimated that 60,000 acres of Altai lands, mostly the eastern part of permits 2009PG537 and 2009PG538, are in the Utica fairway or Tier 1 area. The Utica shale is estimated to be 195-220 m thick at 1,150-1,500 m depth, and the Lower Lorraine black shale unit located just above is constant at 180 m thick. The wells are to be drilled one each in the Tier 1 and Tier 2 areas.

Altai also intends to run resistivity surveys oriented to gas targets in gravel and sand deposits in the overburden in Permit 2009RS275 that may be suitable for gas storage reservoirs similar to those found under adjacent Lake St. Pierre in Altai permits and in Intragas permits to the west.

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