Highlands Natural Resources PLC Completes acquisition of leases (3333U)
11 July 2018 - 9:30PM
UK Regulatory
TIDMHNR
RNS Number : 3333U
Highlands Natural Resources PLC
11 July 2018
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.
11 July 2018
Highlands Natural Resources plc ('Highlands' or 'the
Company')
Completes acquisition of leases prospective for CO(2)
Highlands is pleased to announce that, further to the
announcement made on 25 June 2018, the grant of leases covering
over 46,000 acres of land prospective for commercial volumes of
carbon dioxide (CO(2) ) in north-eastern Arizona has been approved
by the State of Arizona.
The Company is now ideally positioned to commence discussions
with a range of potential end users with a view to exploring the
opportunity to secure funding for future drilling. CO(2) is used in
a broad range of applications, and of particular relevance to
Highlands, it can be used in the oil and gas industry to extract
in-place oil from pressure depleted wells.
Robert Price, Highlands' Chairman and CEO, said: "We are
increasingly galvanising our reputation as an innovator in the well
protection and productivity space. We are delighted to have the
leases in hand and look forward to capitalising on the resource
potential."
***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
Redleaf Communications
Elisabeth Cowell
Fiona Norman +44 (0) 20 3757 6880
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:
-- Colorado Shale: having developed a horizontal oil and gas
project targeting the East Denver Niobrara shale formation,
Highlands retains a 7.5% carried interest in the project, which is
fully funded and operated by Highlands' partners. East Denver is
currently producing from two wells, with six additional wells
currently drilling, and up to 24 wells can be drilled in total.
Highlands is now developing plans to advance its 2,721-acre shale
project in the Denver Julesburg Basin west of Denver.
-- Enhanced Oil Recovery: DT Ultravert: a re-fracking and parent
well protection technology with four patents allowed and additional
patents pending in the United States and internationally. Highlands
is advancing commercial conversations with a range of oil and gas
operators and service providers to commercialize DT Ultravert
technology, potentially supported by Highlands' 800-acre low-cost
nitrogen discovery in Kansas and its 46,000 landholding which is
prospective for CO(2) in Arizona
-- Helios Two: a 220,000+ acre helium and natural gas prospect
in SE Montana with drilling and assessment operations ongoing.
This information is provided by RNS, the news service of the
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Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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