CALGARY, ALBERTA--(Marketwire - Jan. 12, 2012) - Atikwa Resources Inc. (TSX VENTURE:ATK) ("Atikwa" or the "Company") is pleased to report that it has completed the drilling of its eighth horizontal well targeting Spearfish light oil in the Pierson area of Manitoba. The 2-6 well, which was the final well in the 2011 program, is scheduled to be fraced this Friday and put on production before the end of the month. All of the wells in the 2011 program appear to be following a similar inflow pattern characterized by strong initial rates of production of up to as much as 200 barrels per day of fluid, which then stabilizes at approximately 80 to 100 barrels of oil per day.

The Company now has 8 Spearfish wells in the area, 5.3 net and expects to exit this round of drilling with net oil production of approximately 400 barrels per day. Assuming a drilling density of four wells per quarter section, the Company has 21 (net) additional locations in the area for future infill drilling.

With the addition of this production, management is now exploring options to establish a credit facility that will allow the Company to continue to move forward with the development of its oil properties without having to issue further equity at dilutive prices.

This news release contains forward

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