West Denver Update

RNS Number : 9777G

Highlands Natural Resources PLC

12 November 2018

 

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12 November 2018

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

West Denver Update

Highlands, the London-listed natural resources company, provides the following update on the status of its 104 permit applications for its West Denver project.

Following discussion with certain regulatory authorities and local interest groups, Highlands Natural Resources has withdrawn 28 of its drilling permit applications relating to areas nearby Standley Lake.  The drilling and spacing unit applications for the remaining 76 wells on the project remain unchanged.  

Highlands Chairman Robert Price said, "As a company, Highlands is committed to the highest standards of operation and we had no hesitation in following the recommendations of the regulators and local interest groups.  Our West Denver Project covers over 5,200 acres and the minor amendment to our plans around Standley Lake is expected to have no bearing on the project's overall economic viability."

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For further information:

Highlands Natural Resources plc      

Robert Price    [phone]

Cantor Fitzgerald Europe      

Nick Tulloch    [phone]

David Porter  

Newate Communications

Elisabeth Cowell

Fiona Norman [phone]

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. Highlands now expects the fracking operations to be completed in December with flow-back from the six new wells in late December or early January. Highlands is now developing plans to advance its 5,200-acre shale project in the Denver Julesburg Basin west of Denver

• Highlands Water Resources formed to facilitate a range of initiatives focused on easing the water shortage currently being experienced across the US oil and gas industry, and particularly across more arid States such as Colorado. Highlands Water Resources is currently processing water on the East Denver wells with the proven E10X modular solar powered water-recycling units. Highlands is also exploring the potential to supply water from its acreage in Montana.

• Well Performance Enhancement Portfolio: A collection of inter-supporting technological and natural resource assets, consisting of DT Ultravert, a re-fracking and parent well protection technology with four patents allowed and additional patents pending in the United States and internationally, over 2,200-acre Kansas of low-cost highly-pure nitrogen resources and 46,000- acre prospective carbon dioxide resource leases in Arizona. Highlands' first well in Kansas recorded a 99.59% purity and initial flow rate of 2,581 Mcfpd. Highlands is in advanced commercial discussions with various parties for full scale commercialization of its technological and natural resource assets.

• Montana Helios Two: a 220,000+ acre helium and natural gas prospect in SE Montana with drilling and assessment operations on-going.

 

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