Further Acquisition of Licences in North Dakota

RNS Number : 5679Y

Highlands Natural Resources PLC

18 May 2016

 

18 May 2016

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

Further Low Cost Acquisition of Oil & Gas Licences in North Dakota

Highlands, the London listed oil and gas company, is pleased to announce that in line with its strategy to capitalise on the current oil price environment to acquire assets at a low cost, it has acquired oil and gas exploration licences covering approximately 1,979.13 acres located in the Williston Basin, North Dakota.  The consideration of US$14,411.56 has been satisfied through a cash payment.  This latest acquisition brings the Company's total acreage holding in the area to 3,951.93 acres.

Highlands CEO Robert Price said, "We are delighted with the low cost acquisition of these exploration licences in North Dakota.  We will continue to update the market as we continue our oil and gas leasing campaign."

**ENDS**

For further information:

Highlands Natural Resources plc Robert Price [phone] Cenkos Securities plc Neil McDonald [phone] Nick Tulloch [phone] St Brides Partners Ltd Lottie Brocklehurst [phone] Elisabeth Cowell

 

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