Hemisphere Energy spuds horizontal oil well at Jenner

Source: Hemisphere Energy Corporation

Hemisphere Energy Corporation (TSX VENTURE: HME) announces it has commenced drilling operations on the third well of the fall drilling program. The horizontal development well is targeting oil-bearing sandstones of the Glauconitic formation and will be 100% owned and operated by Hemisphere Energy.

Hemisphere has also completed tie-in operations of the first horizontal well of the fall drilling program. This well tested at 156 barrels of oil per day over a 72 hour period, as announced November 15, 2011, and was placed on production December 2, 2011. The company has also finished completion operations of a new vertical oil well and is proceeding with equipping the well.

Hemisphere currently has oil production from its Jenner property in southeast Alberta, natural gas production from its Sylvan Lake and Wainwright properties in central Alberta and liquids-rich natural gas production from its Trutch property in northeast British Columbia.

Hemisphere Energy is focused on building and developing a balanced portfolio of core areas that provide low to medium risk drilling opportunities that support ongoing growth of production, reserves and cashflow.

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