Altai Resources Inc

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Altai Resources Inc. (TSX VENTURE: ATI) is a Canadian junior gas exploration company that owned a 59.4% interest (now 100%) in drilling rights to 282,317 acres located in the St. Lawrence Lowlands, Province of Quebec, Canada. This consisted of seven permits which collectively are referred to as the Sorel-Trois Rivieres property located in the heart of the Lowlands natural gas play.

In late December, 2008 the company announced that it had bought out its joint venture partner, Petro St-Pierre Inc., and now owns 100% of the above permits. In addition it owns a 15% gross royalty interest in an additional 33,000 acres in the same area owned by Talisman Energy Canada.

An October, 2009 announcement mentioned that Altai had obtained new permits from the Quebec Ministry of Natural Resources--good for 10 years--covering all of its existing oil and gas permits in the Saint Lawrence Lowlands. The permits granted amounted to 282,544 acres, but did not include the aforementioned acreage owned by Talisman in which Altai holds a 15% interest. The company planned to conduct seismic testing in a portion of the southern half of the property. Seismic surveying was also planned for the northern portion of the property that is to the west of the city of Trois-Rivieres. The formations under study include the Utica shale, Lorraine shale, Trenton-Black River, Chazy Beekmantown, and Potsdam. These surveys were also intended to help improve the deliniation of the Yamaska Fault. The gas-bearing formations are down-faulted to the east of this fault, so drilling must go deeper there.

• Niyazi Kacira is Altai's President.
• Maria Au is the Secretary-Treasurer.