Hemisphere Energy Corp. is pleased to announce that its board of directors has approved a quarterly cash dividend of $0.025 per common share in accordance with the Company's variable dividend policy. The dividend will be paid February 21, 2023 to shareholders of record as of the close of business on February 10, 2023. The dividend is designated as an eligible dividend for income tax purposes. About Hemisphere Energy [...]
Hemisphere Energy Corp. is pleased to announce an update on its operations and provide corporate guidance for 2023. Corporate Update Over the past year Hemisphere has achieved a number of significant corporate milestones, including the elimination of bank debt, initiation of a quarterly dividend, start-up of a tertiary enhanced oil recovery scheme, and new record production levels. These financial and operational [...]
Hemisphere Energy Corp. is pleased to announce that it has been named to the 2023 OTCQX Best 50, a ranking of top performing companies traded on the OTCQX Best Market last year. The OTCQX Best 50 is an annual ranking of the top 50 U.S. and international companies traded on the OTCQX market. The ranking is calculated based on an equal weighting of one-year total return and average daily dollar volume growth in the previous [...]
Hemisphere Energy Corp. is pleased to report that it has commenced a two-well drilling program in the Atlee Buffalo area of southeast Alberta. With service cost increases and labour shortages continuing to impact the industry, Hemisphere has taken advantage of an available rig at lower rates to accelerate its first quarter drilling program to December. While drilling operations are expected to be finished by year-end, the [...]
Hemisphere Energy Corp. today reported its financial and operating results for the third quarter ended September 30, 2022, during which the Company recorded almost $24 million in revenue and its third highest ever adjusted funds flow from operations 1 of $10.6 million. Hemisphere also spent $4.6 million on drilling operations and facility improvements, paid off its bank debt, and distributed $2.6 million of dividends to [...]
Hemisphere Energy Corp. is pleased to provide an update on its operations in Southern Alberta. Hemisphere completed construction of its new injection plant at the Atlee Buffalo F pool battery during the summer and moved into the early stages of tertiary recovery for the pool in August. Through the fourth quarter, the Company plans to expand its oil battery with the addition of a new treater, allowing for higher production [...]
Hemisphere Energy Corp. provides its financial and operating results for the second quarter ended June 30, 2022. During the second quarter of 2022, Hemisphere achieved record adjusted funds flow from operations 1 of $14 million and lowered net debt[1] to $3.7 million. Hemisphere was also active in the field with five new wells drilled in the Atlee Buffalo area, which were brought onstream throughout July. The Company [...]
Hemisphere Energy Corp. is pleased to announce that the TSX Venture Exchange has accepted the Company's Notice of Intention to renew of its Normal Course Issuer Bid to purchase for cancellation, from time to time, as Hemisphere considers advisable, up to 8,905,836 common shares of the Company, representing approximately ten percent of the current public float of the Common Shares. Purchases of Common Shares will be made [...]
Hemisphere Energy Corp. announces the results of its annual general meeting of shareholders held Tuesday June 09, 2022. A total of 18,667,159 common shares were voted, representing 18.50 percent of total shares issued and outstanding as at the record date of the meeting. Shareholders voted in favour of all items put forward by the board of directors and management. All six individuals nominated for the board of directors [...]
Hemisphere Energy Corp. is pleased to provide an update on its renewed credit facility, operations, revised annual guidance, and return to shareholder plan. Credit Facility Hemisphere has completed the renewal of its extendible two year committed term facility with ATB Financial, providing for borrowings of up to $35,000,000 . As was announced with the latest quarterly financials, the Company exited the first quarter with [...]
Hemisphere Energy Corp. provides its financial and operating results for the first quarter ended March 31, 2022. Q1 2022 Highlights Produced a record quarterly average of 2,648 boe/d, a 60% increase over the first quarter of 2021. Attained record quarterly revenue of $22.9 million, a 190% increase over the first quarter of 2021. Delivered an operating field netback1 of $64.89/boe, 80% higher than the first quarter of [...]
SNN Network presents the Planet MicroCap Showcase taking place on May 3-5, 2022, where 88 MicroCap public and private companies will be presenting at Bally's Hotel & Casino in Las Vegas. The Planet MicroCap Showcase begins on Tuesday, May 3, 2022 with the "MicroCap Investing Workshop" starting at 12:00pm PST and featuring well-known financial influencers, investors, fund managers, and key opinion leaders, followed by 88 [...]
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