Hillcrest Petroleum Ltd.

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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. Join our investor group to learn more.

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Hillcrest Petroleum Ltd.

publicPublicGroup

Hillcrest Petroleum Ltd. is focused on adding, creating and increasing value through the acquisition, development and......

people69 Members       (0)

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HRHCommunity MGR posted an update in HILLCREST PETROLEUM LTD.

1 month ago

Investor Update: We ask the team in the field to send us some pictures and short videos from West Hazel. This gives you an idea of what our fields look like. Thank You, Ryan McGowan.

CM

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8020 Admin

15 days ago

8020 Admin posted a press release Hillcrest Shareholder Update in HILLCREST PETROLEUM LTD.

VANCOUVER, B.C. - TheNewswire - MARCH 12, 2020 - Hillcrest Petroleum Ltd. (the "Company" or "Hillcrest") (TSXV:HRH) (OTC:HLRTF) is pleased to offer an update on current operations.


Oil production operations at Hillcrest's West Hazel field are stable, with production revenues expected to continue to cover operating expenses in the current low oil price environment.


In addition, activities to connect the field to the regional power grid to power field operations is underway and expected to be completed by end March. Field electrification is expected to reduce monthly operating costs by approximately 20% and reduce operational carbon footprint significantly, by replacing diesel generators currently in use.


Plans and permits are in place to re-complete an existing well in an up-hole, oil bearing, zone which is estimated to add 50-100 barrels oil production per day. Costs for the well re-completion and associated production equipment is expected to be less than CDN $200,000.


Additional production from the well recompletion is expected to provide a disproportionate increase in operating income, as a high proportion of the field costs are fixed. Sales revenues from additional oil production would therefore accrue directly to operating profits without increasing operating costs.


Hillcrest is in discussions with parties to secure funding for the re-completion and the Company is confident funding can be sourced.


"Since re-starting production from the West Hazel field early last year, we have gained valuable insight into opportunities to add value by optimizing our operations and implementing environmental best practices." states Don Currie, CEO of Hillcrest Petroleum. "The initial upgrades of facilities and the current field electrification puts the Company in a better position than most producers, in that we are able to maintain positive operating cash flows from the field, even after the recent dramatic drop in oil prices.


In addition, Hillcrest has identified relatively inexpensive re-completion potential in the field and will proceed when funding is obtained.


We are continuing to pursue our stated objective of acquiring and further developing, producing assets in the Western Canada Basin and will update our shareholders as material events occur."


ON BEHALF OF THE BOARD


Donald Currie


Chief Executive Officer and Director


For more information on Hillcrest Petroleum Ltd., contact Donald Currie toll free at 1-855-609-0006 or visit the Company's website at www.hillcrestpetroleum.com.


Cautionary Statement Regarding "Forward-Looking" Information


Some of the statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.


Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

!
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Darren Stewart posted an update in HILLCREST PETROLEUM LTD.

29 days ago

We wanted to highlight Hillcrest's strategic initiative in regard to creating a positive social and environmental impacts as they produce conventional oil and gas.

Hillcrest Petroleum Ltd.

publicPublic Group

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. Join our investor group to learn more.

people69 Members       (0)

Corporate Profile
Group Admins:
  • Thumb 8020 monitor 200200 2
  • Thumb don update photo
  • Thumb mike
  • Thumb square logo hrh
Add Corporate Feed


Hillcrest Petroleum Ltd.

publicPublicGroup

Hillcrest Petroleum Ltd. is focused on adding, creating and increasing value through the acquisition, development and......

people69 Members       (0)

Thumb hillcrest

HRHCommunity MGR posted an update in HILLCREST PETROLEUM LTD.

1 month ago

Investor Update: We ask the team in the field to send us some pictures and short videos from West Hazel. This gives you an idea of what our fields look like. Thank You, Ryan McGowan.

CM

Thumb 8020 monitor 200200 2

8020 Admin

15 days ago

8020 Admin posted a press release Hillcrest Shareholder Update in HILLCREST PETROLEUM LTD.

VANCOUVER, B.C. - TheNewswire - MARCH 12, 2020 - Hillcrest Petroleum Ltd. (the "Company" or "Hillcrest") (TSXV:HRH) (OTC:HLRTF) is pleased to offer an update on current operations.


Oil production operations at Hillcrest's West Hazel field are stable, with production revenues expected to continue to cover operating expenses in the current low oil price environment.


In addition, activities to connect the field to the regional power grid to power field operations is underway and expected to be completed by end March. Field electrification is expected to reduce monthly operating costs by approximately 20% and reduce operational carbon footprint significantly, by replacing diesel generators currently in use.


Plans and permits are in place to re-complete an existing well in an up-hole, oil bearing, zone which is estimated to add 50-100 barrels oil production per day. Costs for the well re-completion and associated production equipment is expected to be less than CDN $200,000.


Additional production from the well recompletion is expected to provide a disproportionate increase in operating income, as a high proportion of the field costs are fixed. Sales revenues from additional oil production would therefore accrue directly to operating profits without increasing operating costs.


Hillcrest is in discussions with parties to secure funding for the re-completion and the Company is confident funding can be sourced.


"Since re-starting production from the West Hazel field early last year, we have gained valuable insight into opportunities to add value by optimizing our operations and implementing environmental best practices." states Don Currie, CEO of Hillcrest Petroleum. "The initial upgrades of facilities and the current field electrification puts the Company in a better position than most producers, in that we are able to maintain positive operating cash flows from the field, even after the recent dramatic drop in oil prices.


In addition, Hillcrest has identified relatively inexpensive re-completion potential in the field and will proceed when funding is obtained.


We are continuing to pursue our stated objective of acquiring and further developing, producing assets in the Western Canada Basin and will update our shareholders as material events occur."


ON BEHALF OF THE BOARD


Donald Currie


Chief Executive Officer and Director


For more information on Hillcrest Petroleum Ltd., contact Donald Currie toll free at 1-855-609-0006 or visit the Company's website at www.hillcrestpetroleum.com.


Cautionary Statement Regarding "Forward-Looking" Information


Some of the statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.


Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

!
Thumb year end 2017

Darren Stewart posted an update in HILLCREST PETROLEUM LTD.

29 days ago

We wanted to highlight Hillcrest's strategic initiative in regard to creating a positive social and environmental impacts as they produce conventional oil and gas.