Hemisphere Energy Corporation (HME.V) announced the results of its year-end independent reserves evaluation.
Highlights:
- Increased Proved reserves by 90% to 812.3 Mboe (91% oil).
- Increased NPV of Proved reserves by 65% to $18.0 million (before tax, discounted at 10%).
- Increased Proved plus Probable reserves by 60% to 1,265.1 Mboe (89% oil).
- Increased NPV of Proved plus Probable reserves by 42% to $26.5 million (before tax, discounted at 10%).
HME was up more than 6% to 50 cents, with 52-week range of $0.40 - $0.77.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
