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Hemisphere Updates Reserves, 2014 Drilling Recap

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Hemisphere Updates Reserves, 2014 Drilling Recap

Hemisphere Energy Corporation has announced highlights from its independent reserves evaluation as at December 31, 2014 in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities.

In 2014 Hemisphere completed its busiest development year to-date, drilling and placing on production 10 horizontal oil wells in Atlee Buffalo and 2 horizontal oil wells in Jenner.

2014 Reserve Highlights Increased Proved plus Probable reserves by 61% to 3,337.5 Mboe (88% oil & NGL). Increased the value of Proved plus Probable reserves by 64% to $62.5 MM (NPV10 BT). Increased Proved reserves by 72% to 2,193.1 Mboe (88% oil & NGL). Increased the value of Proved reserves by 64% to $40.3 MM (NPV10 BT). Increased Proved Developed Producing reserves by 74% to 1,095.2…
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