Proactiveinvestors USA & Canada Highlands Natural Resources PLC https://www.proactiveinvestors.com Proactiveinvestors USA & Canada Highlands Natural Resources PLC RSS feed en Sun, 19 May 2019 19:41:35 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Highlands Natural Resources makes rapid progress with new CBD operation ]]> https://www.proactiveinvestors.com/companies/news/219997/highlands-natural-resources-makes-rapid-progress-with-new-cbd-operation-219997.html  

How is it doing

Highlands Natural Resources Plc (LON:HNR) has undertaken a major shift in direction in recent months.

Originally an oil and gas group with wells in Colorado, in March Highlands got into the CBD business via the new Zoetic Organics subsidiary.

The company recently secured its first retail distribution and sales agreement, to supply products via Schrader Oil’s chain of eighteen convenience and gas stores.

At the same time, it is also selling direct to customers online and developing a seed distribution business.

"The progress made by Zoetic since we established this operation less than two months ago has been excellent,” said Robert Price, Highlands executive chairman.

Zoetic is presently planting outdoors, with the team aiming to cover two eight-acre fields.

The company anticipates a planting deadline of 30 June, though it expects to complete the programme before then.

The group is also building out a 33,000sq ft of greenhouse, growing plants for CBD production.

Capacity is expected to reach 10,000 plants per season, and, along with the primary CBD products, those plants will yield more than 500 seeds.

Highlands noted that the indoor growing cycle is a little longer than outdoors, but still expects to achieve at least three production seasons per year.

 

Synergy

The broader gas business provides synergy, as it is supplying gas to produce a nitrogen-hydrogen based fertiliser that’s being used across the Zoetic operation.

In today’s statement, the company highlighted that demand for high-quality seeds is very strong amid a fast-growing hemp and CBD industry,

 

Gas production

Highlights told investors in May that its eight part-owned production wells at the East Denver project yielded around 2,700 barrels of oil per day and 4mln cubic feet of gas per day.

Five of the eight new wells are currently operating on a limited choke, restricting output with a view to maintaining pressure and extending well life.

The company owns a 7.5% interest in the wells, and, it said that the asset is generating monthly revenue above the company’s fixed operating costs.

Taking account of expected revenues across the whole group, Highlands said it retains the view that it will generate sufficient cash flow to cover all overheads for the current year.

At East Denver, Highlands has also received a US$58.5mln commitment from a US oil and gas-focused private equity group to support an expansion of up to 24 wells at the site.

According to HNR, the East Denver project has an NPV10 range for six wells of between US$23.3mln to US$30.1mln.

An estimate for the full 24 wells sees this estimate increase to between US$96.6mln to US$124.5mln.

  DT Ultravert

Away from its production arm, HNR also has its DT Ultravert technology, which has been proven to prevent ‘well bashing’ and enhance well productivity.

The process involves the injection of nitrogen gas into an existing well at the same time as a new nearby well is fracked.

Highlands has enjoyed some early stage success in deploying the technology but needs its own nitrogen supply represents one of the largest cost inputs.

As a result, it has been looking to produce its own nitrogen from a project in Kansas.

HNR’s thinking is that if it can start producing its own nitrogen, it will not only reduce the cost for its customers, but it will also improve its own margins and possibly create another revenue stream if it becomes a supplier in its own right.

HNR holds a 75% stake in the DT Ultravert technology patents.

 

What the boss says : Robert Price, chief executive

"Our gas is a game changer for organic growing, We can increase the yield by 30%.  We supply the gas to the soil so it's a natural fertiliser. The plants look really beautiful. We bring gas from Kansas into Colorado and produce different oils from hemp."

 

Latest video

 

Inflexion points

First sales from the CBD business

Increasing production from the East Denver wells as more come on stream

Hydrogen/nitrogen mix found in Kansas, with the most signficant beneficial results in cannbis and hemp plant

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Thu, 09 May 2019 14:48:00 -0400 https://www.proactiveinvestors.com/companies/news/219997/highlands-natural-resources-makes-rapid-progress-with-new-cbd-operation-219997.html
<![CDATA[News - HNR highlights quick move to revenue for its new CBD business ]]> https://www.proactiveinvestors.com/companies/news/219963/hnr-highlights-quick-move-to-revenue-for-its-new-cbd-business-219963.html Highlands Natural Resources PLC (LON:HNR) shares saw positive territory as it highlighted a quick move to revenue in its new cannabidiol (CBD) business in the United States.

The company - which had been focusing on oil and gas assets in Colorado and shale well technologies - in March got into the CBD business via the new Zoetic Organics subsidiary.

Within weeks of launching the venture the company secured its first retail distribution and sales agreement, to supply products via Schrader Oil’s chain of eighteen convenience and gas stores.

READ: HNR’s new cannabidiol business lands first retail sales agreement

At the same time, it is also selling direct to customers via the internet and it is also developing a seed distribution business.

"The progress made by Zoetic since we established this operation less than two months ago has been excellent,” said Robert Price, Highlands executive chairman.

“From a standing start, we have three revenue lines underway within the Zoetic business and I look forward to providing further updates as our retail sales develop. 

“This is a fast-moving industry but the combination of our facilities and innovative management team has enabled us to take a flexible approach which I am confident will deliver good returns to our shareholders in the years to come.”

Zoetic is presently planting outdoors, with the team aiming to cover two eight-acre fields, and Highlands today told investors that the new plan is expected to improve the revenue potential compared to the prior approach.

The company anticipates a planting deadline of 30 June, though it expects to complete the programme before then.

The group is also building out a 33,000 square feet of greenhouse, growing plants for CBD production.

Capacity is expected to reach 10,000 plants per season, and, along with the primary CBD products those plants will yield more than 500 seeds.

Highlands noted that the indoor growing cycle is a little longer than outdoors, but, it still expects to achieve at least three production seasons per year.

The broader gas business provides synergy, as it is supplying gas to produce a nitrogen-hydrogen based fertilized that’s being used across the Zoetic operation.

In today’s statement, the company highlighted that demand for high quality seeds is very strong amid a fast growing hemp and CBD industry, though it guided investors that the timing of revenues from the seed business are skewed to the last quarter of the financial year.

Revenue generating hydrocarbon business

Looking to the gas business, Price added: “In the meantime, our East Denver project is being operated to the highest standards and providing regular revenue to Highlands."

Highlights told investors that its eight part-owned production wells at the East Denver project yielded around 2,700 barrels of oil per day and 4mln cubic feet of gas per day.

Five of the eight new wells are currently operating on a limited choke, restricting output with a view to maintaining pressure and extending well life.

The company owns a 7.5% interest in the wells, and, it said that the asset is generating monthly revenue above the company’s fixed operating costs.

Taking account of expected revenues across the whole group, Highlands said it retains the view that it will generate sufficient cash flow to cover all overheads for the current year.

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Thu, 09 May 2019 09:34:00 -0400 https://www.proactiveinvestors.com/companies/news/219963/hnr-highlights-quick-move-to-revenue-for-its-new-cbd-business-219963.html
<![CDATA[RNS press release - Trading Update ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20190509070006_14067373/ Thu, 09 May 2019 02:00:06 -0400 https://www.proactiveinvestors.com/companies/rns/10732/LSE20190509070006_14067373/ <![CDATA[RNS press release - Board Change Update ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20190426070010_14052771/ Fri, 26 Apr 2019 02:00:10 -0400 https://www.proactiveinvestors.com/companies/rns/10732/LSE20190426070010_14052771/ <![CDATA[RNS press release - Board Change ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20190416070013_14042080/ Tue, 16 Apr 2019 02:00:13 -0400 https://www.proactiveinvestors.com/companies/rns/10732/LSE20190416070013_14042080/ <![CDATA[RNS press release - First Retail Sale Agreement - Zoetic Organics ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20190401070007_14022475/ Mon, 01 Apr 2019 02:00:07 -0400 https://www.proactiveinvestors.com/companies/rns/10732/LSE20190401070007_14022475/ <![CDATA[RNS press release - Disclosure of notifiable interests ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20190326070022_14015186/ Tue, 26 Mar 2019 03:00:22 -0400 https://www.proactiveinvestors.com/companies/rns/10732/LSE20190326070022_14015186/ <![CDATA[News - Highlands Natural Resources to enter cannabidiol market in Colorado with new growing operation ]]> https://www.proactiveinvestors.com/companies/news/216813/highlands-natural-resources-to-enter-cannabidiol-market-in-colorado-with-new-growing-operation-216813.html Highlands Natural Resources PLC (LON:HNR) is to set up a cannabidiol (CBD) operation in Colorado using hydrogen from its gas operation in Kansas as fertiliser.

In an announcement after the close on Tuesday, the oil and gas firm said through its new subsidiary, Zoetic Organics, it was aiming to lease a 33,000 square foot facility in Colorado, which had the capacity for 40,000 hemp plants each year.

WATCH: Highlands Natural Resources PLC launches offer on PrimaryBid for its new CBD subsidiary

Zoetic would then target sales of products including organic hemp oil and pre-rolled smokable products in both wholesale and retail, with HNR expecting first revenues by mid-2019 and profitability by the end of the year.

The move followed a recent trial with another cannabis grower in the state which showed that the hydrogen recovered from HNR’s gas operation had increased the size of the plants grown when added as an organic fertiliser, with the results surpassing expectations.

Funding

To help fund the new business, the group said it had raised around £1.56mln through the subscription of 18.3mln new shares at a price of 8.5p each, a 12.4% discount to its last close price.

Robert Price, executive chairman and chief executive of Highlands, said Zoetic would provide the company with an opportunity to enter the “rapidly growing CBD market” at low cost.

“Our immediate priority is to advance the discussions currently underway with potential retail and wholesale partners, purchase manufacturing equipment and expand our outdoor growing, ahead of our intended harvest of our first 10,000 hemp plants by mid-2019.”

The company also said that the new operation would be developed alongside its existing asset portfolio, which includes eight producing shale wells in Colorado that would cover the firm’s overheads in 2019.

CBD is increasingly being recognised by various medical organisations, including the World Health Organisation (WHO), as a method treating symptoms of conditions such as Alzheimer’s and Parkinson’s. According to a report from market research firm Brightfield Group, the CBD market is estimated to be worth around US$22bn by 2022.

Shares lower on new business venture

In a note to clients, analysts at SPAngel said: “While we congratulate the management team for continuing to seek ways in which to generate value, we didn't quite expect yet another business venture to be started.

“While we can appreciate the growth in the cannabis sector and the potential profits that can accrue to the business, we find it hard to believe that with such diverse business interests already, that this will be any different.”

They added: “We believe that the increasingly disparate nature of the businesses that the management team is pursuing is starting to give us concern that they are running out of ideas.”

In afternoon trading, shares in Highlands Natural Resources were 8,.5% lower at 8.88p.

 -- Adds analyst comment, share price --

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Wed, 20 Mar 2019 07:57:00 -0400 https://www.proactiveinvestors.com/companies/news/216813/highlands-natural-resources-to-enter-cannabidiol-market-in-colorado-with-new-growing-operation-216813.html
<![CDATA[RNS press release - Results of PrimaryBid.com Offer ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20190320070007_14008297/ Wed, 20 Mar 2019 03:00:07 -0400 https://www.proactiveinvestors.com/companies/rns/10732/LSE20190320070007_14008297/ <![CDATA[Media files - Highlands Natural Resources PLC launches offer on PrimaryBid for its new CBD subsidiary ]]> https://www.proactiveinvestors.com/companies/stocktube/12645/highlands-natural-resources-plc-launches-offer-on-primarybid-for-its-new-cbd-subsidiary-12645.html Tue, 19 Mar 2019 12:55:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/12645/highlands-natural-resources-plc-launches-offer-on-primarybid-for-its-new-cbd-subsidiary-12645.html <![CDATA[RNS press release - PrimaryBid.com Offer ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20190319163104_14007997/ Tue, 19 Mar 2019 12:31:04 -0400 https://www.proactiveinvestors.com/companies/rns/10732/LSE20190319163104_14007997/ <![CDATA[RNS press release - Fundraising for an Organic Cannabidiol Operation ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20190319163004_14007996/ Tue, 19 Mar 2019 12:30:04 -0400 https://www.proactiveinvestors.com/companies/rns/10732/LSE20190319163004_14007996/ <![CDATA[RNS press release - East Denver Wells IP Rate Update ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20190225070006_13979564/ Mon, 25 Feb 2019 02:00:06 -0500 https://www.proactiveinvestors.com/companies/rns/10732/LSE20190225070006_13979564/ <![CDATA[RNS press release - Change of Auditor ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20190130174001_13952481/ Wed, 30 Jan 2019 12:40:01 -0500 https://www.proactiveinvestors.com/companies/rns/10732/LSE20190130174001_13952481/ <![CDATA[RNS press release - Gas Sales Commence at East Denver Project ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20190128070006_13947970/ Mon, 28 Jan 2019 02:00:06 -0500 https://www.proactiveinvestors.com/companies/rns/10732/LSE20190128070006_13947970/ <![CDATA[RNS press release - Eight Producing Wells - East Denver ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20190114070005_13932750/ Mon, 14 Jan 2019 02:00:05 -0500 https://www.proactiveinvestors.com/companies/rns/10732/LSE20190114070005_13932750/ <![CDATA[RNS press release - Colorado Shale - East Denver Project Update ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20190102070006_13920054/ Wed, 02 Jan 2019 02:00:06 -0500 https://www.proactiveinvestors.com/companies/rns/10732/LSE20190102070006_13920054/ <![CDATA[RNS press release - Interim Results ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20181213070001_13901805/ Thu, 13 Dec 2018 02:00:01 -0500 https://www.proactiveinvestors.com/companies/rns/10732/LSE20181213070001_13901805/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20181120164041_13874101/ Tue, 20 Nov 2018 11:40:41 -0500 https://www.proactiveinvestors.com/companies/rns/10732/LSE20181120164041_13874101/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20181120163545_13874095/ Tue, 20 Nov 2018 11:35:45 -0500 https://www.proactiveinvestors.com/companies/rns/10732/LSE20181120163545_13874095/ <![CDATA[RNS press release - Update on Operations and Notice of Results ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20181120070020_13872739/ Tue, 20 Nov 2018 02:00:20 -0500 https://www.proactiveinvestors.com/companies/rns/10732/LSE20181120070020_13872739/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20181119090549_13871637/ Mon, 19 Nov 2018 04:05:49 -0500 https://www.proactiveinvestors.com/companies/rns/10732/LSE20181119090549_13871637/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20181119090042_13871629/ Mon, 19 Nov 2018 04:00:42 -0500 https://www.proactiveinvestors.com/companies/rns/10732/LSE20181119090042_13871629/ <![CDATA[RNS press release - Colorado Shale - West Denver Update ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20181119070005_13870987/ Mon, 19 Nov 2018 02:00:05 -0500 https://www.proactiveinvestors.com/companies/rns/10732/LSE20181119070005_13870987/ <![CDATA[RNS press release - West Denver Update ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20181112070005_13862530/ Mon, 12 Nov 2018 02:00:05 -0500 https://www.proactiveinvestors.com/companies/rns/10732/LSE20181112070005_13862530/ <![CDATA[RNS press release - Update Colorado Shale Operations ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20181107070005_13857583/ Wed, 07 Nov 2018 02:00:05 -0500 https://www.proactiveinvestors.com/companies/rns/10732/LSE20181107070005_13857583/ <![CDATA[RNS press release - Colorado Shale - Permitting of West Denver Project ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20181018070004_13833069/ Thu, 18 Oct 2018 02:00:04 -0400 https://www.proactiveinvestors.com/companies/rns/10732/LSE20181018070004_13833069/ <![CDATA[RNS press release - Highlands Water Resources and Montana Update ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20181016070005_13829603/ Tue, 16 Oct 2018 02:00:05 -0400 https://www.proactiveinvestors.com/companies/rns/10732/LSE20181016070005_13829603/ <![CDATA[RNS press release - Reduction of Capital Approved ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20180925155001_13804230/ Tue, 25 Sep 2018 10:50:01 -0400 https://www.proactiveinvestors.com/companies/rns/10732/LSE20180925155001_13804230/ <![CDATA[RNS press release - Colorado Shale - East Denver Operations Update ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20180920070011_13797522/ Thu, 20 Sep 2018 02:00:11 -0400 https://www.proactiveinvestors.com/companies/rns/10732/LSE20180920070011_13797522/ <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20180821143858_13763345/ Tue, 21 Aug 2018 09:38:58 -0400 https://www.proactiveinvestors.com/companies/rns/10732/LSE20180821143858_13763345/ <![CDATA[RNS press release - AGM Statement ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20180821070003_13762071/ Tue, 21 Aug 2018 02:00:03 -0400 https://www.proactiveinvestors.com/companies/rns/10732/LSE20180821070003_13762071/ <![CDATA[RNS press release - Final Results ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20180724070009_13728376/ Tue, 24 Jul 2018 02:00:09 -0400 https://www.proactiveinvestors.com/companies/rns/10732/LSE20180724070009_13728376/ <![CDATA[RNS press release - East Denver - Drilling Operations Complete ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20180719070005_13723312/ Thu, 19 Jul 2018 02:00:05 -0400 https://www.proactiveinvestors.com/companies/rns/10732/LSE20180719070005_13723312/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20180716174218_13719724/ Mon, 16 Jul 2018 12:42:18 -0400 https://www.proactiveinvestors.com/companies/rns/10732/LSE20180716174218_13719724/ <![CDATA[RNS press release - Issue of Shares ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20180712080112_13715200/ Thu, 12 Jul 2018 03:01:12 -0400 https://www.proactiveinvestors.com/companies/rns/10732/LSE20180712080112_13715200/ <![CDATA[RNS press release - Completes acquisition of leases ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20180711123003_13714150/ Wed, 11 Jul 2018 07:30:03 -0400 https://www.proactiveinvestors.com/companies/rns/10732/LSE20180711123003_13714150/ <![CDATA[RNS press release - Notice of Results and Shareholder Call ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20180704070005_13704596/ Wed, 04 Jul 2018 02:00:05 -0400 https://www.proactiveinvestors.com/companies/rns/10732/LSE20180704070005_13704596/ <![CDATA[RNS press release - Gas Analysis Update for Kansas Nitrogen Project ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20180629070003_13698388/ Fri, 29 Jun 2018 02:00:03 -0400 https://www.proactiveinvestors.com/companies/rns/10732/LSE20180629070003_13698388/ <![CDATA[RNS press release - East Denver Project Update ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20180627070004_13694832/ Wed, 27 Jun 2018 02:00:04 -0400 https://www.proactiveinvestors.com/companies/rns/10732/LSE20180627070004_13694832/ <![CDATA[RNS press release - Acquisition of Leases Prospective for CO2 ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20180625070008_13691176/ Mon, 25 Jun 2018 02:00:08 -0400 https://www.proactiveinvestors.com/companies/rns/10732/LSE20180625070008_13691176/ <![CDATA[RNS press release - Significant Flow Rates Reported, Nitrogen Project ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20180621070004_13687838/ Thu, 21 Jun 2018 02:00:04 -0400 https://www.proactiveinvestors.com/companies/rns/10732/LSE20180621070004_13687838/ <![CDATA[RNS press release - Operational Update ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20180611070003_13673641/ Mon, 11 Jun 2018 02:00:03 -0400 https://www.proactiveinvestors.com/companies/rns/10732/LSE20180611070003_13673641/ <![CDATA[RNS press release - Colorado shale projects update ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20180604070009_13664801/ Mon, 04 Jun 2018 02:00:09 -0400 https://www.proactiveinvestors.com/companies/rns/10732/LSE20180604070009_13664801/ <![CDATA[RNS press release - Exploration of Nitrogen Reserves for DT Ultravert ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20180531070006_13660736/ Thu, 31 May 2018 02:00:06 -0400 https://www.proactiveinvestors.com/companies/rns/10732/LSE20180531070006_13660736/ <![CDATA[RNS press release - Strategy Update ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20180521070008_13647874/ Mon, 21 May 2018 02:00:08 -0400 https://www.proactiveinvestors.com/companies/rns/10732/LSE20180521070008_13647874/ <![CDATA[RNS press release - Spudding of six new wells completed ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20180511070004_13637203/ Fri, 11 May 2018 02:00:04 -0400 https://www.proactiveinvestors.com/companies/rns/10732/LSE20180511070004_13637203/ <![CDATA[RNS press release - Spudding of sixth & seventh wells at East Denver ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20180508070009_13631782/ Tue, 08 May 2018 02:00:09 -0400 https://www.proactiveinvestors.com/companies/rns/10732/LSE20180508070009_13631782/ <![CDATA[RNS press release - Spudding Of Fifth Well At East Denver ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20180503070002_13628068/ Thu, 03 May 2018 02:00:02 -0400 https://www.proactiveinvestors.com/companies/rns/10732/LSE20180503070002_13628068/ <![CDATA[RNS press release - Spudding of fourth well at East Denver oil & gas ]]> https://www.proactiveinvestors.com/companies/rns/10732/LSE20180502070011_13626543/ Wed, 02 May 2018 02:00:11 -0400 https://www.proactiveinvestors.com/companies/rns/10732/LSE20180502070011_13626543/