Commences Drilling at Helios Two, Montana

RNS Number : 1347K

Highlands Natural Resources PLC

19 September 2016

 

19 September 2016

Highlands Natural Resources plc ('Highlands' or 'the Company')

Commences Drilling at Helios Two, Montana

Highlands Natural Resources, the London-listed natural resources company, is pleased to announce that drilling operations at its Helios Two natural gas and helium prospect in southeast Montana commenced on 18 September 2016 following a rapid permitting and approval process.  The first well (Helios Well 5-52 16-22) will generate significant valuable data for the evaluation and assessment of the prospect.

The targeted result of Highlands' pilot programme is to demonstrate the technical and economic viability of dewatering, validate the engineering and economics outlined in the RPS Competent Person's Report announced on 26 June 2016, and affirm RPS' projections of the long-term economic potential of the Helios Two prospect.  Highlands expects to release initial quantitative results to the market on an on-going basis once production commences.

Highlands CEO Robert B. Price said, "This is a significant milestone for Highlands and demonstrates the efforts of our efficient engineering team who have completed the permitting and mobilisation stages rapidly.   We will commence a de-watering process once the well and surface facilities are complete and will provide the market with additional updates including the results of coring, gas analysis, well completion, preliminary testing and de-watering operations in due course." 

THIS RELEASE CONTAINS INSIDE INFORMATION.

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For further information, please visit www.highlandsnr.com, or contact:

Robert Price	Highlands Natural Resources plc	+1 (0)  918 361 7000
Nick Tulloch	Cenkos Securities plc	[phone]
Neil McDonald	Cenkos Securities plc	[phone] / [phone]
Lottie Brocklehurst	St Brides Partners Ltd	[phone]
Elisabeth Cowell	St Brides Partners Ltd	[phone]

 

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