Schlumberger DT Ultravert Agreement Update

RNS Number : 2727L

Highlands Natural Resources PLC

30 September 2016

 

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

Schlumberger DT Ultravert Agreement Update

Highlands, the London-listed natural resources company, is pleased to announce that it has signed an agreement with Schlumberger to extend for a year the technology trial and evaluation period in its Indicative Terms for a Licence Agreement, which was announced on 25 September 2016.  The period now extends to 16 September, 2017.

All terms of the original agreement remain consistent except one modification: if Schlumberger cannot provide crews or equipment for a DT Ultravert application on a timely basis, then Highlands may request Schlumberger's approval to engage a third party service provider with available crews and equipment.

With the original agreement now extended, Highlands and Schlumberger look forward to accelerating the full-scale deployment of DT Ultravert.

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)  303 322 1066
Nick Tulloch	Cenkos Securities plc	[phone]
Neil McDonald	Cenkos Securities plc	[phone]
Lottie Brocklehurst	St Brides Partners Ltd	[phone]
Elisabeth Cowell	St Brides Partners Ltd	[phone]

Notes to Editors:

Highlands Natural Resources (LSE: HNR.L) is a London-listed natural resources company with a portfolio of high-potential oil, gas and helium assets and technologies focused on the U.S.. The Company's core projects include:

·    DT Ultravert: a re-fracking and parent well protection technology with 20 patents pending in the United States and internationally

·    Helios Two: a 100,000+ acre natural gas and helium prospect in SE Montana with drilling and assessment operations on-going

·    East Denver Niobrara: a farm-in opportunity for six horizontal oil and gas wells targeting the Niobrara shale formation in a well-studied area of the Denver Julesburg Basin

 

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