Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/hemisphere-energy-declares-90-increase-to-proved-r.shtmlHemisphere Energy declares 90% increase to proved reserves in 2012
Hemisphere Energy Corporation provides the results
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Hemisphere Energy Corporation provides the results of its year-end independent reserves evaluation in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities (NI 51-101) as at December 31, 2012.
The independent reserves evaluation covers a 10 month period ended December 31, 2012 as a result of a change in year-end and is primarily focused on Hemisphere's core oil producing property in Jenner, Alberta, representing over 96% of Hemisphere's total reserves.
During the 10 month period in 2012, Hemisphere drilled and placed on production seven horizontal wells and one vertical well. In 2013, Hemisphere has drilled one horizontal well in Jenner to-date, which is currently being tied-in. This well tests land not reflected in the 2012 independent reserves evaluation.
