Update Colorado Shale Operations

RNS Number : 5937G

Highlands Natural Resources PLC

07 November 2018

 

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY HIGHLANDS TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

7 November 2018

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

Update on East and West Denver, Colorado Shale Operations

Highlands, the London-listed natural resources company, is pleased to announce that hydraulic fracturing operations for the six new wells at its East Denver Project will resume this week. Flowback from the new wells is expected in late December 2018 or early January 2019.

The Company also notes that Proposition 112 was not passed in the State of Colorado following the 6 November 2018 election results. This means that the well set-back limits will not be increased from the current 500-feet for occupied buildings and 1,000-feet from school structures. This is a positive step for the Colorado oil and gas industry. Highlands has already filed permits for a 104 well development programme at the West Denver Project and continues its discussions with potential partners for the development of its West Denver Project.

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For further information:

Highlands Natural Resources Plc      

Robert Price    [phone]

Cantor Fitzgerald Europe      

Nick Tulloch    [phone]

David Porter  

Newgate Communications

Elisabeth Cowell

Fiona Norman [phone]

Notes to Editors

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

• Colorado Shale: having developed a horizontal oil and gas project targeting the East Denver Niobrara shale formation, Highlands retains a 7.5% carried interest in the project, which is fully funded and operated by Highlands' partners. Highlands now expects the fracking operations to be completed in December with flow-back from the six new wells in late December or early January. Highlands is now developing plans to advance its 5,200-acre shale project in the Denver Julesburg Basin west of Denver

• Highlands Water Resources formed to facilitate a range of initiatives focused on easing the water shortage currently being experienced across the US oil and gas industry, and particularly across more arid States such as Colorado. Highlands Water Resources is currently processing water on the East Denver wells with the proven E10X modular solar powered water-recycling units. Highlands is also exploring the potential to supply water from its acreage in Montana.

• Well Performance Enhancement Portfolio: A collection of inter-supporting technological and natural resource assets, consisting of DT Ultravert, a re-fracking and parent well protection technology with four patents allowed and additional patents pending in the United States and internationally, over 2,200-acre Kansas of low-cost highly-pure nitrogen resources and 46,000- acre prospective carbon dioxide resource leases in Arizona. Highlands' first well in Kansas recorded a 99.59% purity and initial flow rate of 2,581 Mcfpd. Highlands is in advanced commercial discussions with various parties for full scale commercialization of its technological and natural resource assets.

• Montana Helios Two: a 220,000+ acre helium and natural gas prospect in SE Montana with drilling and assessment operations on-going.

 

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