Hemisphere Energy Corporation (TSX-V: HME) is pleased to announce the results of its year-end independent reserves evaluation in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities (“NI 51-101″) as at December 31, 2012.The independent reserves evaluation covers a 10 month period ended December 31, 2012 as a result of a change in year-end and is primarily focused on Hemisphere’s core oil producing property in Jenner, Alberta, representing over 96% of Hemisphere’s total reserves. During the 10 month period in 2012, Hemisphere drilled and placed on production seven horizontal wells and one vertical well. In 2013, Hemisphere has drilled one horizontal well in Jenner to-date, which is currently being tied-in. This well tests land not reflected in the 2012 independent reserves evaluation. Initial production results will be released when available.
About Hemisphere Energy Corporation
Hemisphere Energy Corporation is an exploration and production company focused on developing core areas that provide low to medium risk drilling opportunities to increase production, reserves and cash flow. Hemisphere’s continued growth plan is through drilling existing prospects and executing strategic acquisitions and farm-ins. Hemisphere trades on the TSX Venture Exchange under the symbol “HME”.
Source: Hemisphere Energy Corporation
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