ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for monitor Customisable watchlists with full streaming quotes from leading exchanges, such as LSE, NASDAQ, NYSE, AMEX, Bovespa, BIT and more.

HN

0.00
0.00 (0.00%)
Share Name Share Symbol Market Type
TSXV:HN TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

High North Resources-Corporate Update

05/02/2014 12:08pm

Marketwired Canada


NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES. 


High North Resources Ltd. (TSX VENTURE:HN) (the "Company" or "High North") is
very pleased to announce that it has begun receiving sales revenue from the
Company's first two Montney horizontal wells. Wells 9-2-76-21W5M and
16-2-76-21W5M are flowing oil with combined preliminary rates exceeding a total
of 350 barrels of oil per day over a seven day period. In addition, the solution
gas is being flared after recovery of a nominal amount of condensate. 


Rates have been restricted due to surface facility constraints. In addition,
both wells are still in their clean-up period, with 30 to 60 percent of their
frac water remaining to be recovered. Once surface facility constraints have
been resolved and the remaining frac water has been recovered, specific flow
rates for each well will be released.


The Company is proceeding to equip both wells with pumping equipment and
additional tankage. 


A third Montney horizontal well located at 9-26-75-21W5M also produced oil after
completion, but is currently shut-in to conduct a pressure build-up survey as
required by the Alberta Energy Regulator (AER). Production testing is slated to
commence in the later part of February 2014. 


Forward-looking Statements and Information

This news release contains certain statements that may be "forward-looking
statements" or "forward-looking information" within the meaning of applicable
securities laws. Forward looking statements are statements that are not
historical facts and are generally, but not always, identified by the words
"expects", "plans", "anticipates", "believes", "intends", "estimates",
"projects", "potential" and similar expressions, or that events or conditions
"will", "would", "may", "could" or "should" occur. In particular, but without
limiting the foregoing, this news release contains forward-looking statements or
information pertaining to, among other things, the restriction of preliminary
rates due to surface facility constraints, the percentage of frac water
remaining to be recovered, the Company's process regarding equipping the wells
and the timing for production testing. Although High North believes the
expectations expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future performance
and actual results may differ materially from those in forward looking
statements. Forward looking statements are based on the beliefs, estimates and
opinions of High North's management on the date the statements are made. Except
as required by law, High North undertakes no obligation to update these
forward-looking statements in the event that management's beliefs, estimates or
opinions, or other factors, should change.


The forward-looking statements contained in this press release are made as of
the date of this press release, and the Company does not undertake any
obligation to update publicly or to revise any of the included forward-looking
statements, whether as a result of new information, future events or otherwise,
except as expressly required by securities law.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
High North Resources Ltd.
Mr. Kyle Stevenson
Investor Relations and Director
(604) 687-1779
kstevenson@highnorthresources.com


High North Resources Ltd.
Mr. Colin Soares
President, Chief Executive Officer, and Director
(403) 454-5565
csoares@highnorthresources.com
www.highnorthresources.com

1 Year High North Resources Ltd. Chart

1 Year High North Resources Ltd. Chart

1 Month High North Resources Ltd. Chart

1 Month High North Resources Ltd. Chart