The second well will be drilled with an Air Rig to better evaluate and quantify the coal gas formations.

The Sail and Anchor 4-13-14 HBK (horizontal Bakken) well, as reported last week, drilled from 17,350 feet (measured depth) to final total depth of 18,050 feet (measured depth).

The 14-35 well is the first well drilled under Altima's participation agreement with Whistler Oil and Gas Pty. Ltd.

The program is expected to employ three drilling rigs in the Matziwin area of southern Alberta.

2012 production increased 139% to 13,152 barrels of oil equivalent per day.

The initial well was determined by the operating partner that the well was non-commercial and would be plugged and abandoned.

The company increased 2013 total production growth target to 10% from 6%.