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Hemisphere Energy Announces 2025 Second Quarter Results, Declares Quarterly Dividend, and Provides Operations Update
Vancouver, British Columbia--(Newsfile Corp. - August 14, 2025) - Hemisphere Energy Corporation&#...
About this update from Hemisphere Energy Corp
[{"type":"text","content":"Hemisphere Energy Announces 2025 Second Quarter Results, Declares Quarterly Dividend, and Provides Operations UpdateVancouver, British Columbia--(Newsfile Corp. - August 14, 2025) - Hemisphere Energy Corporation (TSXV: HME) (OTCQX: HMENF) (\"Hemisphere\" or the \"Company\") provides its financial and operating results for the second quarter ended June 30, 2025, declares a quarterly dividend payment to shareholders, and provides operations update.Q2 2025 HighlightsAttained quarterly production of 3,826 boe/d (99% heavy oil). Generated $24.4 million, or $70.06/boe, in revenue.Achieved total operating and transportation costs of $14.18/boe.Delivered an operating field netback1 of $14.9 million, or $42.77/boe.Realized quarterly adjusted funds flow from operations (\"AFF\")1 of $10.3 million, or $29.47/boe.Executed a $2.2 million capital expenditure1 program, including preparatory spending for Hemisphere's upcoming drilling program.Generated free funds flow1 of $8.1 million, or $0.07/share.Distributed $2.4 million, or $0.025/share, in base dividends to shareholders during the quarter.Distributed $2.9 million, or $0.03/share, in special dividends to shareholders during the quarter.Purchased and cancelled 1.3 million shares for $2.3 million under the Company's Normal Course Issuer Bid (\"NCIB\").Renewed the Company's $35 million two-year extendible credit facility.Exited the first quarter with positive working capital1 of $13.9 million.(1) Operating field netback, adjusted funds flow from operations (AFF), free funds flow, capital expenditure, and working capital are non-IFRS measures, or when expressed on a per share or boe basis, non-IFRS ratio, that do not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other entities. Non-IFRS financial measures and ratios are not standardized financial measures under IFRS and may not be comparable to similar financial measures disclosed by other issuers. Refer to the section \"Non-IFRS and Other Specified Financial Measures\". Selected financial and operational highlights should be read in conjunction with Hemisphere's unaudited condensed interim consolidated financial statements and related notes, and the Management's Discussion and Analysis for the three months ended June 30, 2025 which are available on SEDAR+ at www.sedarpl...