East Denver - Drilling Operations Complete

RNS Number : 0945V

Highlands Natural Resources PLC

19 July 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.

19 July 2018

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

Colorado Shale - East Denver  Drilling Operations Complete

Highlands, the London-listed natural resources company, is pleased to announce that drilling operations at all of the additional six wells at East Denver, which are being funded entirely by its partners, have been successfully completed.

Further to the announcement on 27 June 2018, the remaining three wells, named Thunder, Hagar and Citadel, have been drilled to total depth of 17,991 ft, 17,967 ft and 18,193 ft respectively and are now cased, cemented and secured.

With the completion of the drilling operations, the pad is currently being prepared for upcoming fracking and flowback operations.   

***ENDS***

For further information:

Highlands Natural Resources plc      

Robert Price    [phone]

Cantor Fitzgerald Europe      

Nick Tulloch    [phone]

David Porter  

Redleaf 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. East Denver is currently producing from two wells, with six additional wells expected to come into production in November 2018. Up to 24 wells can be drilled in total.  Highlands is now developing plans to advance its 3,514-acre shale project in the Denver Julesburg Basin west of Denver.

·     Enhanced Oil Recovery: DT Ultravert: a re-fracking and parent well protection technology with four patents allowed and additional patents pending in the United States and internationally. Highlands is advancing commercial conversations with a range of oil and gas operators and service providers to commercialize DT Ultravert technology, potentially supported by Highlands' 800-acre low-cost nitrogen discovery in Kansas and its 46,000 landholding which is prospective for CO₂ in Arizona .

·     Helios Two: a 220,000+ acre helium and natural gas prospect in SE Montana with drilling and assessment operations ongoing.

 

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