Spudding Of Fifth Well At East Denver

RNS Number : 9484M

Highlands Natural Resources PLC

03 May 2018

 

3 May 2018

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

Spudding of fifth well at East Denver oil and gas project

Highlands, the London-listed natural resources company, is pleased to announce that it has spud its fifth well at the East Denver Niobrara shale oil and gas project ("East Denver" or "the Project") today.

Highlands is sequentially drilling out the surface casing on the six new wells being funded by True Oil LLC before drilling out the lateral portion of each wellbore.

This follows Highlands' agreement with True Oil LLC, announced on 20 April 2018, which sees the entire capital costs of at least six additional wells funded by Highlands' partners. On completion, the total number of wells at East Denver will be eight.  

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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:

·     East Denver Niobrara: a horizontal oil and gas project targeting the Niobrara shale formation in a well-studied area of the Denver Julesburg Basin. The Company has two wells drilled and producing cash flow and is now fully funded for at least six additional wells, to be delivered in the short term. It has a 7.5% carried interest in existing and future wells.

·     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.

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

 

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