ANG Angel Gold Corp

CALGARY, Oct 1 /CNW/ -- PRESS RELEASEOCTOBER 1, 2010TSX-V SYMBOL: ANG CALGARY, Oct 1 /CNW/ - AltaCanada Energy Corp. (the "Corporation") announces that its Board of Directors has decided to undertake a review of strategic alternatives and has engaged CIBC World Markets Inc. ("CIBC") as its financial advisor to assist in the review process. AltaCanada has over 390,000 gross acres of contiguous lands in northern Montana adjacent to existing oil production in the Shaunavon and Bakken Formations currently being pursued in Montana, North Dakota and southern Saskatchewan by various other operators. AltaCanada and CIBC have prepared a corporate summary document that is available on CIBC's website (http://www.cibcwm.com/wm/investment-banking/industry-expertise/oil-gas.html). The corporate sale of AltaCanada is only one of several alternatives under consideration. The refinancing of the Corporation's debt as well as merger and joint venture opportunities will also be examined in order to maximize shareholder value and enable the Corporation to accelerate its attractive Jurassic and Bakken drilling opportunities. Drilling operations on the first of two scheduled wells in Blaine County, Montana have been completed, with the East Battle well cased as a potential Shaunavon oil well.  Completion operations are scheduled to commence in one week. The second well will spud on October 4, 2010, targeting the Bakken formation. The Corporation is engaged in the acquisition, exploitation and production of crude oil and natural gas reserves in Western Canada and Montana.  For more information on the Corporation, visit www.altacanada.com. 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 RELEASE. table cellspacing="0" valign="top" border="0"tr valign="top"td align="left" /td td valign="top" align="left"Don Foulkes, President & CEO/td td valign="top" align="left"Don Jackson, Exec VP & COO/td/tr tr valign="top"td align="left"Telephone:/td td valign="top" align="left"(403) 265 9091 (ext 248)/td td valign="top" align="left"(403) 265 9091 (ext 234)/td/tr tr valign="top"td align="left"Fax:/td td valign="top" align="left"(403) 265 9021/td td valign="top" align="left"(403) 265 9021/td/tr tr valign="top"td align="left"Email:/td td valign="top" align="left"a href="mailto:info@altacanada.com"info@altacanada.com/a/td td valign="top" align="left"a href="mailto:Info@altacanada.com" cr="true"Info@altacanada.com/a/td/tr/table

Copyright