Hemisphere Energy Corporation ("Hemisphere" or the "Company") (TSX VENTURE:HME)
announces that it has closed the acquisition of certain petroleum and natural
gas leases in the Atlee Buffalo area of southeast Alberta. The property includes
an 85% working interest in 1.75 sections (1,120 acres) of land adjacent to
Hemisphere's existing landbase. Total consideration for the acquisition was
$510,000.


The Company also announces that it has successfully drilled the five development
horizontal wells of its summer drilling program in the Atlee Buffalo area of
southeast Alberta. All five wells are undergoing completion and tie in
operations and production results will be announced as they become available.


About Hemisphere Energy Corporation

Hemisphere is a producing oil and gas company focused on developing core areas
that provide low to medium risk drilling opportunities to increase production,
reserves and cash flow. Hemisphere's continued growth plan is through drilling
existing prospects and executing strategic acquisitions and farm-ins. Hemisphere
trades on the TSX Venture Exchange as a Tier 1 issuer under the symbol "HME".


Forward-looking Statements

This news release contains "forward-looking statements" that are based on
Hemisphere's current expectations, estimates, forecasts and projections. These
forward-looking statements include statements regarding Hemisphere's outlook for
our future operations, plans and timing for the commencement or advancement of
exploration and development activities on our properties, and other
expectations, intention and plans that are not historical fact. The words
"estimates", "projects", "expects", "intends", "believes", "plans", or their
negatives or other comparable words and phrases are intended to identify
forward-looking statements. Such forward-looking statements are subject to
risks, uncertainties and other factors that could cause actual results to differ
materially from future results expressed or implied by such forward-looking
statements. Many of these factors are beyond the control of Hemisphere.
Consequently, all forward-looking statements made in this news release are
qualified by this cautionary statement and there can be no assurance that actual
results or developments anticipated by Hemisphere will be realized. For the
reasons set forth above, investors should not place undue reliance on such
forward-looking statements. Hemisphere disclaims any intention or obligation to
update or revise forward-looking information, whether as a result of new
information, future events or otherwise.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this news release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Hemisphere Energy Corporation
Don Simmons
President & Chief Executive Officer
(604) 685-9255
info@hemisphereenergy.ca
www.hemisphereenergy.ca


Scott Koyich
Investor Relations
(403) 619-2200
scott@briscocapital.com
Hemisphere Energy (TSXV:HME)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Hemisphere Energy Charts.
Hemisphere Energy (TSXV:HME)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Hemisphere Energy Charts.