CALGARY, ALBERTA--(Marketwire - Dec. 7, 2011) - Atikwa Resources Inc. (TSX VENTURE:ATK) ("Atikwa" or the "Company") is pleased to report that it has brought on production its fourth and fifth horizontal wells targeting Spearfish light oil in the Pierson area of Manitoba. The recently completed 6-24 and 15-30 wells are the first two of a three well program that the Company drilled throughout October and early November. The third well is expected to be fraced within the next week.

The 6-24 well is currently producing at over 200 barrels of fluid per day with an oil cut of approximately 40%. The second well at 15-30, which was put on production a few days after the 6-24 well, is also producing at over 200 barrels of fluid per day with a 20% oil cut. The Company expects that the oil cut in both wells will continue to increase over the next week or so as the water based fracing fluid injected into the formation during the fracing operation is replaced with oil. The wells are showing strong inflow characteristics and management believes that these wells should equal or exceed the performance of its previous wells in the area. The first well drilled in the Pierson area this year was the 11-26 well, which was put on production March 11, 2011 with an initial production rate of approximately 150 barrels of oil per day. Over the first six months, the 11-26 well stabilized to a production rate of approximately 100 barrels per day.

The Company has licensed two additional wells in the area; the drilling of the first of these wells is scheduled to begin on Friday December 9th with the second well anticipated to be drilled at some time before the end of the year. With the addition of these two wells the Company will have drilled a total of 8 Spearfish wells in the area, 5.3 net and expects to exit this round of drilling with oil production between 400 to 500 barrels per day net to the Company. Assuming a drilling density of four wells per quarter section, the Company has 21 (net) additional locations in the area for future infill drilling.

This news release contains forward

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