Highlands Natural Resour... Share Discussion Threads

[substp] 30/8/2017 08:08

Would they have enticed all the takers of the placing if the share price jumps through the roof first with this RNS.... I doubt it.... a smooth move to complete both wells.

[warwick69] 30/8/2017 08:07

Just don't trust this company

[regandharry5] 30/8/2017 08:01

Well Well Well, what timing for that placing, if ever there was a "mates rates" placing it was that one. Still good news for the rest of us, and my top up of 40K at 13.75p is looking really good now.

[lobo] 30/8/2017 07:58

Obvious mates rates placing yesterday. Can the BoD honestly say they knew nothing about the oil shows trumpeted today?
IF the placing was really needed, now they could either have got more money or issued less shares.

Otherwise all good news.

[tmmalik] 30/8/2017 07:39

It will easily cross 30p and will continue to increase in Next 2 weeks and I think 40p before drilling completion if there is no more non sense placing.

[doc robinson] 30/8/2017 07:37

Great result looks very. Goodforfuture

[stockraider2] 30/8/2017 07:32

Pre-market mark-up of 18%?

[tmmalik] 30/8/2017 07:32

Opening at 28p

[2prsimo] 30/8/2017 07:11

At this stage you can't ask for a better result than that - well done bod

[yorgi] 30/8/2017 07:07

Great news but it does rather question the BOD's timing of the placing and at the level it was in light of today's news.

[bad gateway] 30/8/2017 07:06

Very nice RNS, good old hnr coming good at last (imo)..

Highlands Natural Resources plc ('Highlands' or 'the Company')

Drilling Completed at First East Denver Well



Highlands, the London-listed natural resources company, is pleased to announce that it successfully reached Total Depth ("TD") of 18,230 ft on the Powell 5-64 15-16-1CHZ ("Powell") well at the East Denver Niobrara Project in Colorado ("East Denver") on 27 August. The Company finished setting and cementing casing in the well on 29 August.



Oil and gas is present in the well's drill bit cuttings and drilling mud from the Niobrara formation (referred to as positive "shows" of oil and gas). Mud logging reports provided by independent contractors describe "abundant oil in samples." 100% of the lateral portion of the wellbore was successfully landed in the Niobrara formation.



Highlands' Chairman and CEO Robert Price said, "Today is an important milestone for the East Denver operation, as we have successfully drilled our first well in the project to the planned TD, and initial analyses of the reservoir are positive. Equally important, we have so far delivered operations on-schedule with respect to initial plans outlined by the Company. I attribute our progress to the excellent teamwork achieved by our Joint Technical Team partnership with our investors as well as the collaboration of our highly valued contractors and consultants.



"I am pleased to report that initial indications point to an oil-saturated and gassy shale reservoir, and wellbore data shows that we successfully placed the entirety of our lateral wellbore in the Niobrara formation as initially planned. Our next steps, now underway, are to prepare the rig for its walk back to the Wildhorse well, walk the rig over a period of about one day, then complete drilling operations at the Wildhorse well."



Summary and Next Steps



The Powell well was spud on 14 August; drilling operations lasted approximately fourteen days, and casing operations lasted approximately two days, which is in line with the company's initial expectation of operations lasting approximately two weeks. The Powell well was landed successfully in the Niobrara formation, and 100% of the 9,803-foot lateral portion of the wellbore is in the Niobrara reservoir according to mud logs (a highly positive result).



After casing and cementing the Powell well, the rig's next operation is to walk back to the Wildhorse 5-64 15-16-1BHZ ("Wildhorse") well to drill and case the remainder of that well. The remaining drilling operations for Wildhorse will last approximately two weeks from the time they are commenced.



Highlands will post photos of the East Denver operation, including aerial drone media, to www.highlandsnr.com in due course.



Following drilling operations, the Company will commence completion operations (also called hydraulic fracturing or "fracking"), which will last several weeks from the time of commencement. Following the completions phase, the Company will begin the flow-back process and production process, resulting in definitive oil and gas production results, which the Company will release to the market.

[supertag] 29/8/2017 18:57

Saxon, well done on topping up today. I bought more on Friday @ 25.89p. Doh! As Homer Simpson would say, but my average is only 17.81p.
GLA Supertag

[nesty1760] 29/8/2017 18:29

topped up myself. I see it rising from here.

[david15x] 29/8/2017 18:25

I added this morning.

I fail to understand how this RNS is anything other than good news.

[saxon271] 29/8/2017 18:11

supertag and nesty, many thanks for your help.

I bought a few today.

Kind Regards Saxon

[lobo] 29/8/2017 13:27

barney,

what point are trying to make?

[barneygumble27] 29/8/2017 13:16

181.184 buy and now we have 20.000 and 30.000 and 131.184 sell totaling the buy

[substp] 29/8/2017 09:18

For those that haven't seen the second US Patent Issue Notification...

[aussieb3] 29/8/2017 09:18

Can't believe we only have m cap of 21 million, hopefully over next few weeks and months we will see this doubling when more wells gets drilled

[substp] 29/8/2017 09:15

Nope... I think the DTU Patents and the third party funding had a play in this... It was all down to timing .... :-)

[nesty1760] 29/8/2017 08:54

It might be as they already know and mates rates. That's the more likely reason!

[substp] 29/8/2017 08:53

I think the BOD are now being transparent as they can see their plan coming together.... No surprises here.... all been talked about before... :-)

[potential] 29/8/2017 08:39

The drill could also be not as expected! Not sure why they couldn't do the placing after the drill.. something doesn't add up here!

[tidy 2] 29/8/2017 08:26

Producing by the end of the week. From what planet do you hail?