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Highlands Natural Resources Plc Alliance News (HNR)



Alliance News for Highlands Natural Resources Plc (HNR)


Share Price: 9.25Bid: 9.20Ask: 9.30Change: -0.20 (-2.12%)Faller - Highlands Nat
Spread: 0.10Spread as %: 1.09%Open: 9.45High: 9.45Low: 9.25Yesterday’s Close: 9.45




Highlands Natural Resources Expects East Denver Well To Spud In August

Thu, 20th Jul 2017 12:37

LONDON (Alliance News) - Highlands Natural Resources PLC said on Thursday it has selected a drilling rig and unnamed drilling service providers for its East Denver Niobrara shale oil and gas project in the US state of Colorado.

The rig will be moved to East Denver in the first week of August and the first well, Wildhorse 5-64 15-16-1BHZ, is expected to spud around the middle of August after a two week drill programme.

Highlands Chief Executive Robert Price the well is "located within two miles of other highly productive horizontal wells in the Niobrara shale".

Earlier in July, the London-listed miner raised up to USD32.7 million from oil and gas investment firm Raisa II LLC and GBP2.6 million from other investors in order to fund the drill programme.

Shares in Highlands were down 0.4% to 12.50 pence on Thursday.

By Maryam Cockar; maryamcockar@alliancenews.com; @MaryamCockar

Copyright 2017 Alliance News Limited. All Rights Reserved.

Alliance News


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