Altai Announces Sale Of Cessford Oil Wells Property

2025-09-29 06:46:07

(MENAFN- GlobeNewsWire - Nasdaq) TORONTO, Sept. 29, 2025 (GLOBE NEWSWIRE) -- Altai Resources Inc. (TSXV: ATI) (“Altai” or the“Company”) announced today that it has sold its ownership of a 50% working interest in the oil wells property located in Cessford, Alberta, comprised of 4 oil wells (the“Cessford Oil Wells Property”), to the owner of the other 50% working interest, and the property's operator, Canadian Natural Resources Limited (“CNRL”), for a net liability settlement of $50,674 (the“Net Liability Settlement”), which is comprised of the sale of the asset portion and the settlement of the liability portion. The Net Liability Settlement has been paid for by an inter-bank cash transfer from the Company to CNRL. The Net Liability Settlement represents a gain of $111,728 (or approximately 69%) over the Company's decommissioning liability, net of the carrying value of the asset, for the Cessford Oil Wells Property as reported in the Company's most recent interim consolidated financial statements for the period ended June 30, 2025.

ABOUT THE COMPANY
Altai Resources Inc. is a Toronto, Ontario based resource company with a Canadian investment portfolio comprised of cash and cash equivalents. Additional information about the Company is available on SEDAR+ at and on the Company's website at .

For further information, please contact:
Kursat Kacira, Chairman & CEO/President
T: (647) 282-8324, E: ...

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.

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