Hillcrest Drilling to begin Week of January 19, 2014.
17 January 2014 - 1:30AM
Access Wire
VANCOUVER, B.C. January 16, 2014 -
Hillcrest Resources Ltd.
(the "Company" or Hillcrest") (TSX.V : HRH) is
pleased to announce the Company has received confirmation the
drilling rig contracted with Progress Drilling will be on site and
ready to Spud the Donner #4 well during the week of January
19th. As previously
announced Hillcrest Resources Ltd had submitted applications and
received approval for two development well locations located within
their Newton County leases in Texas. The Company selected these
locations based upon review of seismic and well data as well as the
production performance of the Company's two producing wells in the
area. Hillcrest has a 60% working interest in the next 2 Donner
wells.
Don Currie, CEO and Chairman, states
"Hillcrest Resources is about to start a multi well program all
designed to increase production, revenues and proven reserves
within this calendar year. The Company has identified at least 5
potential drilling locations in our Newton County leases with
potential production capabilities. Donner #4 will spud next week
and be followed closely with the previously permitted Donner #3
well location. Our debt facility as well as the receipt of funds
from the sale of 50% of our Montana assets has provided Hillcrest
with the funds to methodically exploit our acreage as previously
described.
We are excited about the potential
production increase and the impact on our overall revenue upon the
successful execution of this drilling campaign."
The Company will advise when the rig is onsite and
drilling has commenced.
For
more information on Hillcrest Resources Ltd, contact Donald Currie
toll free at 1-866-609-0006 or visit the Company's website
at www.hillcrestresources.com
On Behalf of the Board of
Directors
Donald Currie
Chairman, Chief Executive Officer and
Director
FORWARD LOOKING STATEMENT HERE
Cautionary Statement Regarding
"Forward-Looking" Information
Some of the statements contained in
this press release are forward-looking statements and information
within the meaning of applicable securities laws. Forward-looking
statements and information can be identified by the use of words
such as "expects", "intends", "is expected", "potential",
"suggests" or variations of such words or phrases, or statements
that certain actions, events or results "may", "could", "should",
"would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements and information are not historical facts
and are subject to a number of risks and uncertainties beyond the
Company's control. Actual results and developments are likely to
differ, and may differ materially, from those expressed or implied
by the forward-looking statements contained in this news release.
Accordingly, readers should not place undue reliance on
forward-looking statements. The Company undertakes no obligation to
update publicly or otherwise revise any forward-looking statements,
except as may be required by law.
Neither TSX
Venture Exchange nor its Regulations Services Provider (as that
term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this
release.
0-
Hillcrest Petroleum (TSXV:HRH)
Historical Stock Chart
From Apr 2024 to May 2024
Hillcrest Petroleum (TSXV:HRH)
Historical Stock Chart
From May 2023 to May 2024