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Highlands Natural Resources PLC

HIghlands Natural Resources says gas sales underway at East Denver

Earlier this month, Highlands said oil production had begun at eight producing wells at the project

gas pipes
Highlands is now generating gas and oil revenue from East Denver

Highlands Natural Resources PLC (LON:HNR) has started gas sales from the East Denver project following completion of a pipeline.

The company holds a 7.5% interest in each well on the acreage.

Earlier this month, Highlands said oil production had begun at eight producing wells at the project.

Highlands also has 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.

 

Quick facts: Highlands Natural Resources PLC

Price: £0.07

Market: LSE
Market Cap: £9.76 m
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