Hemisphere Energy Corporation has commenced drilling operations in the Jenner area of southeast Alberta.

Hemisphere is targeting the oil-bearing sandstones of the Glauconitic formation with its first horizontal development well of 2013. This horizontal well represents the third well Hemisphere has drilled under the farm-in agreement announced in June 2012. Results will be made available following the completion of the drilling and testing of the well.

Under the terms of the agreement, Hemisphere will pay 100% of the drilling, completion and tie-in costs of the horizontal well to earn 100% of the well spacing unit before payout, subject to a convertible overriding royalty.

Hemisphere has identified a number of additional earning wells on the farm-in lands and is planning drilling programs throughout 2013 to target these locations.

Tags: Hemisphere Energy Corporation