Coming up soon Highlands are going to be drilling 4 XRL Wells out of 16 XRL on their newly developed Multiwell Pad in Arapahoe Drilling into the prolific Niobrara Formation just outside Denver in a new oil and gas play with ConocoPhillips and Anadarko all around with proven drilling and completion techniques that they are employing from their highly productive wells!
The wells are 78% proven reserves with that data from a third party assessment company RPS! and backed from the PRMS (Petroleum Resources Management System) The funding for this is also going to be non-dilutive, but we haven't had a breakdown of the finance details yet!
One of the nearest producing well is ConocoPhillips Tebo 4-1H and in the first 6 months produced 66,165 barrels of oil with a 4,500 ft Horizonal well, In section 4 5S 64W, Highlands Multiwell Pad is in Sec 15-16 5S 64W so just to the south!
Highlands wells are going to be over 10,000ft and have the permits to drill the first 4 and the development of the pad in process backed up by pictures which you can refer too on mine and D14M0ND's Twitter page with him researching the economic's of the play, where I have research technicals! The other 12 are with the COGCC with approval expected for the rest in June, plus the plan is for a further 32 wells, in total 48!
The market cap is just short of Â£20m and there is a share issue of 67m and the NPV10 of 3 projects is Â£600m! But here I'm only providing the details of East Denver Project as you will need to research other 2 or ask any questions on the HNR board where I'm sure we can answer any questions people have!