Hillcrest Petroleum

(HRH:TSXV)

Independent oil and gas production company

Hillcrest Petroleum Ltd. (HRH:TSXV), headquartered in Houston Texas, is a publicly traded independent oil and gas production company. Hillcrest announced a partnership with a private Alberta company on February 21, 2017 whereby Hillcrest will earn a minimum 50% Working Interest and become the Operator of record in two petroleum assets located in Western Canada. Hillcrest and their joint venture partner will work together to restore the fields to their immediate production capacity estimated to be over 400 barrels of oil per day. Technical review of the fields indicates they may and should be able to produce multiples of the immediate amount through further work over and development of the acreages. Hillcrest also is a working interest partner in 4 oil and gas wells in Newton County Texas.

Hillcrest Petroleum Ltd. is focused on adding, creating and increasing value through the acquisition, development and production of conventional oil and gas assets in the United States and Canada. The Company’s business plan in any acquisition or asset development is to be the operator of the asset or to hold a majority working interest where available.

Hillcrest Petroleum Ltd. shares are publicly traded on the TSX.V under the symbol HRH and in the USA under the symbol HLRTF.

Acquisition, Development and Production of
Conventional oil and gas assets in the United States and Canada

  • Hillcrest Petroleum Ltd. is an independent oil and gas production company, publicly traded on the Toronto Venture Stock Exchange Capital Structure Shares Outstanding 68,995,655 Options @ $0.06, $0.20 6,400,000 Warrants @ $0.08 13,412,500 Fully Diluted 88,808,155 Trading Current Price C$ 0.08 Year high/low C$ 0.05–C$ 0.095 Average Daily Volume 88,100 Current Market Cap C$ 5,519,652 US$ 4,080,000 Debt Private Investment Group C$ 179,000 US$ 132,830
  •  Aggressively pursuing production and development acquisition opportunities onshore Texas, Louisiana and in Western Canada
  • Captured assets in Western Canada, with production expected to commence mid 2017

Momentum Reports

MOMENTUM REPORTS — HILLCREST PETROLEUM

Highlights:

  • On July 26, 2017 Hillcrest announced that the Alberta Energy Regulator had approved it to operate oil and gas assets in Alberta.
  • The Alberta asset consists of two wells and three additional development locations which have already been located with 3D seismic mapping.
  • The Saskatchewan asset consists of 4 wells and five additional development sites that have been located with subsurface mapping. Hillcrest is considering 3D seismic mapping before drilling.
  • The two projects will cost a combined C$2.2 million, most of which is refundable bonds. In return they should provide - depending on the amount of oil pumped - gross revenues over C$400,000 per month.
  • In exchange, Hillcrest receives a 75% working interest in each property until the amount invested is repaid. Then, Hillcrest receives a 50% working interest. Hillcrest remains the asset operator throughout.

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