Highlands Natural Resources PLC Interim Operations Update For East Denver Project (3784O)
18 August 2017 - 4:00PM
UK Regulatory
TIDMHNR
RNS Number : 3784O
Highlands Natural Resources PLC
18 August 2017
18 August 2017
Highlands Natural Resources plc ('Highlands' or 'the
Company')
Interim Operations Update For East Denver Niobrara Project
Highlands, the London-listed natural resources company, is
pleased to announce that it has successfully drilled and set
surface casing in both the Wildhorse 5-64 15-16-1BHZ ("Wildhorse")
and Powell 5-64-15-16-1CHZ ("Powell") wells. Completion of surface
casing represents an important operational milestone, and Highlands
reports smooth operations at East Denver to date. Consistent with
the plan and timeline announced on 11 August, Highlands is now
drilling the remainder of the Powell well, which targets the
Niobrara C formation and should reach its final depth in
approximately two weeks.
Highlights:
-- Wildhorse spud on 10 August
-- Rig subsequently walked to adjacent Powell well
-- Both wells now drilled to approximately 2,100 feet; surface
casing has been set and cemented successfully in both wells
-- Highlands now continuing to drill Powell into the Niobrara C Formation
o Estimated remaining drill-time is approximately two weeks
Additional Information:
Drilling operations for the Powell well are expected to continue
for approximately two weeks with a targeted Total Depth ("TD") of
18,247 ft representing the total vertical and horizontal distance
drilled in the well. Upon reaching TD, the Company will update the
market with the results of drilling, including the portion of the
horizontal wellbore placed in the Niobrara reservoir, which is a
leading indicator of the well's productive capacity.
Highlands' Chairman and CEO Robert Price said, "Operational
execution is essential to delivering East Denver wells on-cost and
on-time, so it is important to update the market that Highlands has
now completed the drilling and cementing of surface casing for our
first two wells in line with stated operational plans and
timelines. I look forward to updating the market of additional
milestones after we drill the remainder of the Powell well and have
the opportunity to analyze resulting geologic and reservoir data,
which will be helpful indicators of the well's productive
potential. With the support of our financial partners and top
quality contractors and advisors, I am confident in Highlands'
ability to execute the East Denver operations plan and to deliver
first oil, first gas and first revenue to shareholders."
THIS RELEASE CONTAINS INSIDE INFORMATION.
**ENDS**
For further information, please visit www.highlandsnr.com, or
contact:
Highlands Natural +1 (0) 303 322
Robert Price Resources plc 1066
Cenkos Securities +44 (0) 131 220
Nick Tulloch plc 9772
+44 (0) 131 220
9771 /
Cenkos Securities +44 (0) 207 397
Neil McDonald plc 1953
St Brides Partners +44 (0) 20 7236
Lottie Brocklehurst Ltd 1177
St Brides Partners +44 (0) 20 7236
Hugo de Salis Ltd 1177
Notes to Editors
Highlands (LSE: HNR.L) is a London-listed natural resources
company with a portfolio of high-potential oil, gas and helium
assets and technologies. The company's core projects include:
-- East Denver Niobrara: a farm-in opportunity for horizontal
oil and gas wells targeting the Niobrara shale formation in a
well-studied area of the Denver Julesburg Basin.
-- DT Ultravert: a re-fracking and parent well protection
technology with one patent granted and additional patents pending
in the United States and internationally. Highlands is advancing
commercial conversations with a range of oil and gas operators to
create revenue-sharing opportunities for DT Ultravert
applications.
-- Helios Two: a 105,000+ acre helium and natural gas prospect
in SE Montana with drilling and assessment operations ongoing.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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