Highlands Natural Resources Share News (HNR)
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HNRMon, 25th Feb 2019 14:50
LONDON (Alliance News) - Highlands Natural Resources PLC on Monday said its East Denver pad achieved initial production rate of 4,600 barrels of oil equivalent per day during the flow-back period.
"Highlands expect that the oil and gas production rate will increase as the choke size is increased," the natural resources firm added.
Highlands has a 7.5% carried interest in all eight wells located at the East Denver project.
Highlands shares were trading down 1.8% at 13.99 pence each.
Highlands Natural Resources, which floated on London's main market as a cash shell in March, is close to making its first acquisition and has bought a majority share of a 're-fracking' technology company. The company has agreed to buy a 75% stake in US-based Diversion Technologies for 1.9m of Highla
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