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Hemisphere Energy Corporation

TSX-V:HMELive AI agent

Hemisphere Energy Corporation is a Canadian oil and gas company focused on sustainable growth of its low risk, low cost conventional oil assets.

Investor website: https://www.hemisphereenergy.ca/

About

Hemisphere Energy Corporation is a Canadian oil and gas company focused on sustainable growth of its low risk, low cost conventional oil assets. Hemisphere plans continued growth in production, reserves, and cash flow by optimizing existing projects and where possible executing strategic and accretive acquisitions. Hemisphere trades on the TSX Venture Exchange as a Tier 1 issuer under the symbol 'HME'.

Verified company data

Cash position
$6.4 million
Shares outstanding
94.4 M
Fully diluted shares
102,128,352
Mineral resource
Approximately 205,000 Mcf of proven plus probable reserves (independently engineered, effective December 31, 2008)
Projects
["Hemisphere Energy Corporation (TSXV: HME) is pleased to announce it has closed the acquisition of the natural gas producing Sylvan Lake property in central Alberta. The Sylvan Lake property consists of multi-well natural gas production from numerous channel sands of the Edmonton Group and provides Hemisphere Energy with stable reserves and additional low risk drilling locations. The Sylvan Lake property has: Approximately 100 thousand-cubic-feet-per-day (Mcf/d) of natural gas production, Approximately 205,000 Mcf of proven plus probable reserves (independently engineered, effective December 31, 2008), Identified low risk drilling locations, Low operating costs, Year round access. The acquisition metrics based on the purchase price of $325,000 are: $19,940 per barrel-of-oil-equivalent-per-day (boe/d), $9.51 per proved plus probable boe. The Sylvan Lake acquisition is aligned with Hemisphere Energy’s strategy of purchasing and developing areas with multi-zone potential which provide medium to low risk drilling opportunities that increase Hemisphere Energy’s production, reserves and cash flow.","Hemisphere Energy Corporation (TSXV:HME) is pleased to announce that it has entered into an agreement to acquire a producing property in the Wainwright area of southeastern Alberta. The property includes 435 net acres of land and 68.75% of one producing Colony formation natural gas well. The well has a current production rate of approximately 175 mcf/d (29 boe/d) gross or 120 mcf/d (20 boe/d) net to the company. The transaction is expected to close on or before February 25, 2011 and is subject to normal due diligence. The Wainwright property acquisition is aligned with Hemisphere’s strategy of focusing on building and developing core areas with multiple zones of potential that provide low to medium risk drilling opportunities to increase Hemisphere Energy’s production, reserves and cash flow."]
Leadership
Don Simmons (President & Chief Executive Officer), Charles O'Sullivan (Director), Frank Borowicz (Director), Bruce McIntyre (Director), Gregg Vernon (Director), Richard Wyman (Director)

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