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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Northern Hemisphere Development (Tier2) | TSXV:NHD | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
At its recent Annual General Meeting, Northern Hemisphere Development Corp. (TSX VENTURE:NHD) reviewed the highlights of the past year's activities. Over the past year, Northern Hemisphere has grown to become a producing oil and gas company with gross production revenue of $438,961 for 2007, an increase of 4,164% over the $10,294 revenue in 2006. With four natural gas wells now on production providing a steady cash flow, no debt obligations, and a repeatable drilling project that provides a stable economic foundation, Northern Hemisphere is well positioned for continued growth. The Company also has a highly qualified management team and an experienced board of directors, which provides a unique opportunity for investors to participate in an emerging energy company. Northern Hemisphere's Trutch Project is located approximately 200 kilometers northwest of Fort St. John in northeast British Columbia. The Company's current production is from a northwest extension of the Tommy Lakes Field, which is comprised of gas sands of the Triassic Halfway formation. The Halfway wells provide a natural gas resource development opportunity with projected long-life production and reserves. Northern Hemisphere is assessing technological advances in horizontal drilling and multi-stage fracture completion methods for the optimal development of the Trutch Project in order to maximize production and reserves, and minimize development costs. Current production is from the Halfway formation, however, the area has potential for production from multiple formations. This multi-zone potential provides significant upside for the Company and its evaluation by the Company's technical team is on-going. With access to over 15,000 gross acres of land with varying working interest and rights in the Trutch Project, Northern Hemisphere has the foundation to build a strong British Columbia based oil and gas company. The Company continues to evaluate new opportunities through drilling and strategic acquisitions, and is committed to increasing shareholder value by delivering growth in production, reserves and cash flow. At the AGM, the Company welcomed the additional depth of oil and gas experience that Bruce McIntyre, P.Geol., and Greg Sadler, P.Eng., bring to Northern Hemisphere, and shareholders re-elected Charles O'Sullivan, B.Sc., Alan Crawford, MBA, Don Simmons, P.Geol., Ken Maddison, FCA, Frank Borowicz, QC, and Gregg Vernon, P.Eng., as directors of the Company. Please visit our website at www.northernhemisphere.ca for more information on Northern Hemisphere, the corporate presentation, and the people involved with the company. NORTHERN HEMISPHERE DEVELOPMENT CORP. Don Simmons, President & CEO Forward Looking Statement This presentation may contain forward-looking statements including management's assessment of future plans and operations, expectations of future production, cash flow and earnings. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to: the risk associated with the oil and gas industry (e.g. Operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses and health, safety and environmental risks), acquisitions, commodity price and exchange rate fluctuation and uncertainties resulting from competition from other producers and ability to access sufficient capital from internal and external sources. This release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction.
1 Year Northern Hemisphere Development (Tier2) Chart |
1 Month Northern Hemisphere Development (Tier2) Chart |
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