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Hemisphere Energy Commences Development Program and Grants Incentive Stock Options
Hemisphere Energy Commences Development Program and Grants Incentive Stock Options ...
About this update from Hemisphere Energy Corp
[{"type":"text","content":"\n\n\n\nHemisphere Energy Commences Development Program and Grants Incentive Stock Options\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Sept. 21, 2017\n\n\n\nTSX-V: HME\n\n\n\nVANCOUVER, Sept. 21, 2017 /CNW/ - Hemisphere Energy Corporation (TSX-V: HME) (\"Hemisphere\" or the \"Company\") is pleased to announce that it has initiated its fall development program and has granted incentive stock options.\n\nDevelopment Program\n\nHemisphere has commenced its previously announced drilling program consisting of seven wells in the Atlee Buffalo area of southeast Alberta (news release dated September 15, 2017).  Of these seven horizontal development wells, drilling plans include three producing wells into the Upper Mannville F pool, three producing wells into the Upper Mannville G pool, and one injector well into the Upper Mannville G pool. Results will be announced as they become available.  \n\nAs part of the development program the Company plans to expand its facility at the F pool and construct a new water separation and re-injection facility in the G pool. The expansion of the F pool facility will offer Hemisphere the ability to optimize current producing wells and provide additional capacity for continued drilling. The new G pool facility will allow the Company to handle production from new wells and to tie-in and turn up its first G pool well producer, which was drilled in the summer of 2016 and has been producing at a limited capacity to tanks.\n\nOverall production from Atlee Buffalo has continued to improve through 2017 and additional information collected from this drilling program will help to expand and improve the Company's reservoir model, which will be used to define an aggressive 2018 drilling program.\n\n\"This level of capital expenditure and number of drilling locations represents the largest development program Hemisphere has completed since 2014,\" said Don Simmons, President and Chief Executive Officer.  \"It characterizes a major shift from a period of capital conservati...