Oil well production rate announcement from Hemisphere Energy

Source: Hemisphere Energy Corporation

Hemisphere Energy Corporation (TSX-V: HME.V) announces it has commenced production on its most recent horizontal well that targeted oil in the Glauconitic formation in the Jenner area of southeast Alberta. The new well was rig released on March 10, 2012 and was drilled as part of the commitment obligations of the farm-in agreement announced on January 25, 2012. The oil well has been producing since April 11, 2012 and the average production rate over the last 120 hours has been approximately 206 barrels-of-oil per day (BOPD) and a 7% water-cut.

The Company is currently planning a summer drill program and installing infrastructure to handle additional fluid at its Jenner oil facilities.

Hemisphere Energy has access to over 11,500 acres of land in the Jenner area. The Jenner property has multiple zones of potential, year-round access and low cost drilling and completion operations where Hemisphere owns and operates production infrastructure.

Hemisphere is focused on building and developing core areas that provide low to medium risk drilling opportunities to increase production, reserves and cash flow.

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