Helios Two Leasing and Development Update

RNS Number : 3910E

Highlands Natural Resources PLC

18 July 2016

 

Highlands Natural Resources plc ('Highlands' or 'the Company')

Helios Two Leasing and Development Update

Highlands Natural Resources, the London-listed natural resources company, is pleased to announce that it has significantly increased its land position in the core of the Helios Two prospect area, which is located in Custer, Carter and Fallon counties, Montana, to 74,657.41 acres through the acquisition of an additional 15,623.59 acres.  This new acreage was acquired for a total cash consideration of $53,734.16.

Highlands' management is advancing conversations with several parties including international industrial gas companies and oil and gas companies as potential JV partners.

Highlands CEO Robert B. Price said, "We increased the size of our Helios Two Project in Montana due to the compelling initial expectations set by RPS Knowledge Reservoir in its Competent Persons Report regarding the recoverable natural gas and helium volumes and projected net present value for the project.  We are confident that we can maximise value by developing the asset together with industry partners.

"We believe that Helios Two may represent a significant bypassed resource.  Our exploration and resource identification process often leverages data that is not available through standard industry databases or online resources. We hope shareholders will share in our excitement for the project and look forward to providing the market with updates in respect to our partner discussions as well as developments elsewhere in our portfolio, where our main priority is to commercialise our DT Ultravert refracking technology."

**ENDS**

For further information, please visit www.highlandsnr.com, or contact:

Robert Price	Highlands Natural Resources plc	+1 (0)  918 361 7000
Nick Tulloch	Cenkos Securities plc	[phone]
Neil McDonald	Cenkos Securities plc	[phone] / [phone]
Lottie Brocklehurst	St Brides Partners Ltd	[phone]
Elisabeth Cowell	St Brides Partners Ltd	[phone]

 

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