Hemisphere Energy Corp

Published : October 20th, 2008

rutch Project Update

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Keywords :   Canada | Growth | Natural Gas | Oil |

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Northern Hemisphere Development Corp.
TSX VENTURE: NHD
Other Recent News

October 20, 2008
Northern Hemisphere Trutch Project Update
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 20, 2008) - Northern Hemisphere Development Corp. (TSX VENTURE:NHD) currently has four natural gas wells on production from the Halfway Formation in the Trutch area of the Tommy Lakes Field. The Trutch Project is approximately 200 kilometres northwest of Fort St. John in the prolific natural gas producing region of northeast British Columbia, Canada.

The stable production, cash flow and long-life reserves of these Halfway wells gives Northern Hemisphere a strong foundation for many years of low risk, repeatable development drilling locations. This development of the Halfway will provide steady growth and flexibility to explore other stratigraphic zones of potential in Trutch and other new core areas.

Northern Hemisphere is monitoring the application of horizontal drilling and multi-stage fracture completion technology for the development of the thick Halfway tight gas sands. Development using horizontal wells and multi-stage fracture completions provides significant upside potential as more gas production and reserves can be recovered for less capital.

Northern Hemisphere is evaluating its land base to determine the number of potential drilling opportunities that exist in additional stratigraphic zones in the Trutch area, namely:

- The Charlie Lake Formation has identified natural gas pay intervals that have not been completed for production or booked as reserves, providing the Company with low risk growth opportunities

- The Doig Formation contains potential channel sand targets and is currently producing within the Tommy Lakes Field

- The Montney Formation to date has not been tested, however, competitors in the area have identified this zone as a potential resource play target similar to other regions of northeast British Columbia and plan to test the zone in the near future

- The Debolt Formation is productive in the area where structural traps contain the natural gas

- The Slave Point Formation provides significant upside potential and continues to be an active target in the area with competitors recently drilling and licencing new Slave Point wells in the vicinity of Northern Hemisphere's land holdings

Northern Hemisphere is currently finalizing its 2008/2009 winter program with its partners and looks forward to another successful drilling season. With the addition of new production and more cash flow, Northern Hemisphere will grow to the next level as a company with a strong foundation and an exciting future.

The experienced management and directors of Northern Hemisphere are committed to our corporate strategy of increasing our per share value by turning our existing large gas resource play into large gas reserves, drilling repeatable low risk locations, fiscal responsibility and targeting strategic value adding acquisitions.

For further information on Northern Hemisphere and its Trutch Project please visit our website at www.northernhemisphere.ca.

NORTHERN HEMISPHERE DEVELOPMENT CORP.

Don Simmons, President & CEO

Forward Looking Statements

This news release contains "forward-looking statements" that are based on Northern Hemisphere's current expectations, estimates, forecasts and projections. These forward-looking statements include statements regarding Northern Hemisphere's outlook for our future operations, plans and timing for the commencement or advancement of exploration and development activities on our properties, and other expectations, intention and plans that are not historical fact. The words "estimates", "projects", "expects", "intends", "believes", "plans", or their negatives or other comparable words and phrases are intended to identify forward-looking statements. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Many of these factors are beyond the control of Northern Hemisphere. Consequently, all forward-looking statements made in this news release are qualified by this cautionary statement and there can be no assurance that actual results or developments anticipated by Northern Hemisphere will be realized. For the reasons set forth above, investors should not place undue reliance on such forward-looking statements. Northern Hemisphere disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.


The TSX Venture Exchange has not reviewed, and does not accept responsibility for the adequacy or accuracy of the contents of this news release.

CONTACT INFORMATION:

Northern Hemisphere Development Corp.
Don Simmons
President & CEO
(604) 685-9255 or 1-800-440-4435
Fax: (604) 685-9676
Website: www.northernhemisphere.ca

INDUSTRY: Energy and Utilities - Oil and Gas

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Hemisphere Energy Corp

CODE : HME.V
ISIN : CA4236301020
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Contact Cpy

Hemisphere Energy is a silver and gold exploration company based in Canada.

Hemisphere Energy produces silver, gold, in Canada, and holds various exploration projects in Canada.

Its main asset in production is JENNER in Canada and its main exploration properties are ELK 1 (DESTAFFANY MINE), FALCON LAKE TANTALUM and NORTHSTAR-KAZA in Canada.

Hemisphere Energy is listed in Canada and in United States of America. Its market capitalisation is CA$ 154.4 millions as of today (US$ 113.4 millions, € 101.9 millions).

Its stock quote reached its highest recent level on March 25, 2005 at CA$ 9.30, and its lowest recent point on December 24, 2008 at CA$ 0.04.

Hemisphere Energy has 85 750 000 shares outstanding.

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Financings of Hemisphere Energy Corp
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10/27/2011Announces Flow-Through Private Placement
8/30/2011Receives Proceeds from Warrant Exercise
5/4/2011Closes Private Placements
12/1/2010Announces Flow-Through Private Placement
12/23/2009Closes Private Placement and Provides Sylvan Lake Operationa...
12/14/2009Announces Private Placement and Provides Operational Update
12/2/2009Closes First Tranche of Private Placement and Attains Albert...
11/4/2009Announces Private Placement
9/28/2009Announces Intention to Amend Terms of Share Purchase Warrant...
12/15/2008Closes First Tranche of Private Placement
Nominations of Hemisphere Energy Corp
5/27/2011Announces Appointment of Vice-President of Engineering and G...
10/11/2007 Appoints Vice President Exploration
Financials of Hemisphere Energy Corp
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8/27/2013Announces Second Quarter 2013 Results
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4/25/2013Files Amended and Restated Business Acquisition Report
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1/25/2012(Jenner)Announces New Farm-in on Jenner Property
1/10/2012Announces 207 BOPD Production Rate From Third Horizontal Wel...
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7/21/2011(Jenner)Announces Initial Production Rate From First Horizontal Well...
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6/29/2011(Jenner)Completes Drilling and Commences Completion of First Horizon...
6/28/2011Releases Reserve Reports
6/14/2011(Jenner)Commences Drilling on Jenner Property in Southeast Alberta
6/8/2011Announces Trutch Property Acquisition
4/1/2011(Jenner)Closes Jenner Oil Property Acquisition
3/16/2011(Jenner)Acquires Jenner Oil Property
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Corporate news of Hemisphere Energy Corp
7/12/2016Hemisphere Energy Announces Closing of its Private Placement...
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6/8/2016Hemisphere Energy Announces Non-Brokered Private Placement o...
5/30/2016Hemisphere Energy Announces Q1 2016 Financial & Operating Re...
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9/18/2015Hemisphere Energy Announces Change in Auditor
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4/21/2015Hemisphere Energy Announces Plan to Restate Audited Financia...
3/11/2015Hemisphere Energy Announces a 61% Increase in 2014 Reserves
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1/29/2015Hemisphere Energy Grants Incentive Stock Options
1/29/2015Hemisphere Energy Grants Incentive Stock Options
1/28/2015Hemisphere Energy Exceeds 1,000 boe/d and Provides Operation...
12/9/2014Hemisphere Energy Receives 40% Increase to Credit Facility
11/18/2014Hemisphere Energy Announces Q3 2014 Financial and Operating ...
10/28/2014Hemisphere Energy Provides Operations and Production Update
10/8/2014Hemisphere Energy Appoints New Director
9/29/2014Hemisphere Energy Grants Incentive Stock Options
9/22/2014Hemisphere Energy Achieves Record Production and Commences F...
9/9/2014Hemisphere Energy Appoints Chief Operating Officer and Vice ...
8/27/2014Hemisphere Energy Announces Q2 2014 Financial and Operating ...
8/26/2014Hemisphere Energy Announces Results of First Two Wells From ...
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6/27/2014Hemisphere Energy Acquires Additional Land in Atlee Buffalo
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6/13/2014Hemisphere Energy Corporation - Archive Webcast of June 11, ...
6/9/2014Hemisphere Energy Announces Results of Annual General and Sp...
6/5/2014Hemisphere Energy Kicks Off 5 Well Summer Drill Program
5/28/2014Hemisphere Energy Announces Increased 2014 Drilling Plans
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2/20/2014Announces 80 BOPD From First Atlee Buffalo Well
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10/16/2013to Acquire Oil Assets in Southeast Alberta
10/15/2013Provides Operational Update
9/9/2013(Jenner)Tests 357 Boe/d Well in Jenner
6/11/2013Announces Results of Annual General Meeting
6/5/2013to Present at EPAC Oil & Gas Investor Showcase
5/14/2013Graduates to Tier 1 of the TSX Venture Exchange
4/24/2013Announces Increased Credit Facility
4/11/2013Announces Substantial Growth in 2012
4/9/2013(Jenner)Tests 400 boe/d Well in Jenner
3/21/2013Announces 90% Increase to Proved Reserves in 2012
11/14/2012Drills Two Successful Oil Wells
9/5/2012Drills Two Successful Oil Wells Adding 197 bopd
8/20/2012Announces Results of Annual General and Special Meeting of
7/25/2012Announces FirstQuarter Financial and Operating Results
6/26/2012Announces Year-End Financial and Reserves Results
6/19/2012Enters Into Seismic Option Agreement and Provides Operationa...
3/5/2012(Jenner)Spuds Farm-in Commitment Well at Jenner
1/30/2012(Jenner)Closes Brokered Private Placement and Strategic Jenner Oil P...
12/8/2011(Jenner)Announces Jenner Oil Property Acquisition and Brokered Priva...
12/6/2011(Jenner)Spuds Horizontal Oil Well at Jenner
9/7/2011Announces Results of Annual General Meeting
3/31/2011Announces $1,540,000 in Private Placements
11/4/2008Announces Trutch Winter Drilling Program
7/7/2008Annual Financial & Reserve Results on SEDAR
12/11/2007FIRST GAS WELL OF THE SEASON
11/15/2007FIRST GAS WELL OF THE SEASON LICENSED
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TSX-V (HME.V)Other OTC (HMENF)
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