logo-loader
Zoetic International plc

Highlands Natural Resources says all eight new East Denver wells are now online

The project is expected to deliver "robust revenue streams" to the company

oil and gas operations
It has a 7.5% interest in the new wells

Highlands Natural Resources Plc (LON:HNR) has told investors that all eight new wells at the East Denver project are now online as production wells.

The company owns a 7.5% interest in East Denver and it expects it will now receive robust revenue streams from the wells throughout 2019.

READ: Highlands Natural set for new wells boost at East Denver

Last year at East Denver, Highlands 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 as an increase of between US$96.6mln to US$124.5mln.

 

Quick facts: Zoetic International plc

Price: £0.05

Market: LSE
Market Cap: £7.25 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Zoetic International plc named herein, including the promotion by the Company of Zoetic International plc in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Highlands Natural Resources showcases CBD products ahead of UK launch

Highlands Natural Resources PLC's (LON:HNR) Nick Tulloch chats to Proactive London's Andrew Scott ahead of the start of sales of their cannabidiol (CBD) products in the UK this month. The oil and gas company made the move into CBD back in March this month. Tulloch says the first...

on 07/17/2019

RNS

Directorate Change

5 days, 9 hours ago

Director/PDMR Shareholding

1 week, 3 days ago

Change of Name

1 week, 6 days ago

Director/PDMR Shareholding

2 weeks, 2 days ago

Second Price Monitoring Extn

2 weeks, 4 days ago

Price Monitoring Extension

2 weeks, 4 days ago

Directorate Change

2 weeks, 4 days ago

Holding(s) in Company

3 weeks, 2 days ago

2 min read