2 Jan 2019 07:00
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY HIGHLANDS TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
2 January 2019
Highlands Natural Resources plc ('Highlands' or 'the Company')
Colorado Shale - East Denver Project Update
Highlands, the London-listed natural resources company, is pleased to announce that its operating partner has successfully concluded completion operations for the six new wells at the East Denver Project and flowback has commenced from three of those six. The original project well, Powell, is currently producing and the other original well, Wildhorse, is also being prepared for the resumption of production in the near future.
Provisional data from the three new wells flowing back, Buckskin, Grizzly and Ouray, indicate that these wells should perform in line with the existing two wells drilled by Highlands, which have been ranked in the top 3% of all Niobrara wells in the Denver Julesburg basin.
Flowback from the remaining three new wells, Thunder, Citadel and Hagar, is expected in the next two weeks with timing being subject to possible change due to the recent extreme cold weather conditions at the location.
On conclusion of these activities, Highlands will have a 7.5% carried interest in eight producing wells at East Denver and will be positioned to deliver revenues from the project throughout 2019.
The Directors look forward to providing further updates in due course.
***ENDS***
For further information:
Highlands Natural Resources plc
Robert Price +1 (0) 303 322 1066
Cantor Fitzgerald Europe
Nick Tulloch +44 (0) 20 7894 7000
David Porter
Newgate Communications
Elisabeth Cowell +44 (0) 20 3757 6880
Fiona Norman