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.

lockPrivateGroup

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

people58 Members        (0)

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8020 Admin

1 month

8020 Admin posted a press release Hillcrest Appoints Chief Operating Officer and is Approved as Operator in Saskatchewan in Hillcrest Petroleum Ltd.

VANCOUVER, B.C. / TheNewswire / June 13, 2018 - The Company is pleased to announce the appointment of Dale Miller to the position of Chief Operating Officer, effective immediately. Mr. Miller brings over 35 years of Canadian oil and gas operating experience across the Western Canadian Sedimentary basin, building oil and gas companies through production and field development as well as acquisitions and divestments.

Mr. Miller has been engaged to establish and manage Hillcrest's Canadian oil and gas operations, including the West Hazel field re-activation and additional potential producing Canadian oil and gas properties that may be acquired under the recently announced Strategic Alliance with a private company currently sourcing up to US$50,000,000 funding exclusively for oil and gas acquisitions in Canada with Hillcrest.

Under the terms of the Strategic Alliance, Hillcrest will identify, screen and offer potential acquisitions to the private company. If accepted, Hillcrest will facilitate acquisitions, be assigned a 25% carried interest and will operate oil and gas properties acquired, as well as receive management fees and performance bonuses.

As part of his engagement arrangements with the Company, Mr. Miller has been granted 350,000 incentive stock options exercisable at $0.065 per share until June 13, 2022.

In addition, Hillcrest's wholly owned Saskatchewan subsidiary has been approved as an operator of oil and gas assets in Saskatchewan. Being approved as an operator enables the Company to conduct oil and gas operations in Saskatchewan starting with the West Hazel field reactivation to restore previous production of over 200 bbl/day of oil under the terms of a previously announced Joint Venture Agreement ("JVA"). Pursuant to the JVA Hillcrest earns a 75% working interest in exchange for incurring 100% of the reactivation costs.

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

ON BEHALF OF THE BOARD


Donald Currie

Chief Executive Officer and Director

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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8020 Admin

2 months

8020 Admin posted a press release Hillcrest Signs Binding Agreements Forming Strategic Alliance to Pursue Oil and Gas Acquisitions in Western Canada in Hillcrest Petroleum Ltd.

Vancouver, B.C. / TheNewswire / May 29, 2018 - Hillcrest Petroleum Ltd. (the "Company" or "Hillcrest") is pleased to announce that it has signed binding agreements creating a Strategic Alliance (the "Strategic Alliance") with a private company (the "Partner") to pursue oil and gas acquisitions in Western Canada. Under the Strategic Alliance, Hillcrest will grant the Partner an exclusive right of first refusal on pre-screened acquisition opportunities to be operated and managed by Hillcrest and will be assigned a 25% carried interest in any acquired assets in exchange for access to its acquisition opportunity register and oil and gas business management services. The Partner will fund 100% of acquisition and development costs.

Hillcrest has compiled a register of potential oil and gas acquisition targets in Western Canada, selected based on criteria including positive operating cash flow from current production operations and the potential to increase the market value of the assets by more than 3x through field development activities. Hillcrest is currently in various stages of discussions with a number of vendors regarding these acquisition targets.

Under the Strategic Alliance, Hillcrest will offer acquisition opportunities to the Partner. Should the Partner elect to pursue one or more of the acquisition opportunities, Hillcrest will facilitate the acquisition on behalf of the Partner, operate the acquired assets under joint venture agreements and implement field development plans intended to maximize the market value of the acquired assets with capital funding provided by the Partner.

The Partner intends to raise up to $50,000,000 to fund potential acquisition and subsequent development of oil and gas assets through an asset secured token offering attached to the acquired oil and gas assets. The Partner has engaged an investment banking and financial services group with specialist expertise in block chain tokens and has initiated activities with them in preparation to market the tokens in the coming weeks.

As previously announced on May 22nd, and consistent with the terms of the Strategic Alliance, Hillcrest continues to focus on its core business as an oil and gas company with activities directed toward the acquisition, development and management of oil and gas assets.

Highlights of the Strategic Alliance are:

-The Partner has an exclusive first right of refusal to partner with Hillcrest on oil and gas acquisitions in Western Canada identified by Hillcrest.

-The Partner will fund 100% of the acquisition and development costs associated with oil and gas assets.

-Hillcrest will provide oil and gas business management services and will manage and operate assets acquired under the terms of agreements related to the Strategic Alliance between Hillcrest and the Partner.

-Hillcrest will receive a direct 25% carried ownership interest in any assets acquired.

-Hillcrest will receive a management fee and full cost recovery for providing oil and gas business management services to identify, acquire and manage Canadian oil and gas assets, as well as milestone based bonuses and operational performance based bonuses to be agreed with the Partner after assets are acquired.

-The term of the agreements are 5 years, with options to extend.

Don Currie, Hillcrest CEO, states: "The execution of the binding agreements forming this Strategic Alliance with a funding partner is a substantial development for Hillcrest and one that has the ability to fast track our acquisition and development plans. The relationship between the parties will see their capital back our Western Canadian acquisition opportunities, with both parties benefiting as acquisitions are completed and further field development is undertaken to unlock the value in the assets. Assuming the Partner is successful in its financing activities over the coming weeks, Hillcrest would expect to accrue significant short term value increases, at no cost to Hillcrest, through our through carried interest interests in quality oil and gas assets that we have identified and commenced discussions on over the last several months. Further value to Hillcrest could be expected as value is delivered from acquired assets through field development activities managed by Hillcrest and from management fees and various bonus structures under the agreements related to the Strategic Alliance. Another significant benefit, is that Hillcrest will no longer have to consider equity capital raises and/or debt to fund acquisition and development opportunities for growth. We are excited to be aligned with a financial group who recognize and are prepared to invest based on our management team's extensive experience and track record delivering value from upstream oil and gas projects and who share our belief that this is an excellent time to be acquiring assets in the Western Canadian Sedimentary Basin."

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

ON BEHALF OF THE BOARD


Donald Currie

Chief Executive Officer and Director

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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8020 Admin

2 months

8020 Admin posted a press release Hillcrest Signs Letter Agreement to Negotiate a Strategic Alliance to Pursue Oil and Gas Acquisitions in Western Canada in Hillcrest Petroleum Ltd.

May 22, 2018 / TheNewswire / Vancouver, B.C. - Hillcrest Petroleum Ltd. (the "Company" or "Hillcrest") is pleased to announce that it has signed a letter agreement (the "Letter Agreement") with a private company (the "Partner") to negotiate and form a strategic alliance (the "Strategic Alliance") for the purpose of pursuing oil and gas acquisitions in Western Canada. It is anticipated that under the Strategic Alliance, Hillcrest will introduce the Partner to pre-screened acquisition opportunities to be operated and managed by Hillcrest, and the Partner would fund the acquisition and development thereof.

Hillcrest has compiled a register of potential acquisition targets in Western Canada, selected based on criteria including positive operating cash flow from current production operations, and the potential to increase the market value of the assets by more than 3x through field development activities. Hillcrest is currently in discussions with a number of these acquisition targets.

Under the proposed Strategic Alliance, Hillcrest will make these acquisition opportunities available to the Partner. Should the Partner elect to participate in one or more of the acquisition opportunities, Hillcrest will facilitate the acquisition and development of the assets with funding provided by the Partner and operate the acquired assets under joint venture agreements. The Partner intends to raise up to $50,000,000 of funding for potential acquisitions and subsequent development of oil and gas assets through an asset backed token offering attached to the acquired oil and gas assets.

As a result of the Strategic Alliance, Hillcrest is no longer considering asset backed token financings in its own right and will continue focusing on its current business as an oil and gas company with its activities directed toward the acquisition, development and management of oil and gas assets.

It is anticipated that the Strategic Alliance will provide for the following:

  • - The Partner will have an exclusive first right of refusal to partner with Hillcrest and fund 100% of the acquisition and development costs associated with oil and gas assets identified by Hillcrest during the term of the Strategic Alliance.

    - For any assets which the Partner elects to fund, Hillcrest will manage and operate those assets under the terms of joint venture agreements between Hillcrest and the Partner.

    - Hillcrest will receive a 25% carried interest in any assets acquired.

    - Hillcrest will receive a management fee and be entitled to recover its out-of-pocket costs for managing the assets.

The parties expect to complete a binding definitive agreement to give effect to the terms of the Letter Agreement by the end of May 2018.

Don Currie, Hillcrest CEO, states: "Hillcrest is excited to have created a working relationship with our potential new partner. The relationship between the parties will see their capital back our Western Canadian acquisition opportunities, with both parties benefiting as acquisitions are completed and further field development is commenced. The immediate value to Hillcrest is that we expect to be able to acquire significant interests in quality oil and gas assets we have identified and commenced discussions on over the last several months without significant equity capital raises, thus minimising shareholder dilution or avoiding it altogether. Our management team has an extensive track record of delivering value from upstream oil and gas projects and we believe this is an excellent time to be acquiring assets in the Western Canadian Sedimentary Basin."

The Company has granted an aggregate of 300,000 incentive stock options to a director of the Company for the purchase of common shares exercisable at a price of $0.06 per share until May 1, 2022.

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

ON BEHALF OF THE BOARD


Donald Currie

Chief Executive Officer and Director

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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8020 Admin

3 months

8020 Admin posted a press release Hillcrest Engages Torrey Hills Capital in Hillcrest Petroleum Ltd.

April 11, 2018 / TheNewswire / VANCOUVER, B.C. - Hillcrest Petroleum Ltd. (the "Company" or "Hillcrest") (Trading symbol HRH:TSX.V HLRTF:OTCQB) is pleased to announce that it has engaged San Diego Torrey Hills Capital, Inc. ("Torrey Hills Capital"), a Rancho Santa Fe, California based investor relations firm, to provide market awareness and investor relations services to the Company, subject to TSX Venture Exchange acceptance.

Torrey Hills Capital is a leading investor and financial public relations firm specializing in small and micro-cap companies. Torrey Hills Capital will increase awareness about Hillcrest through its established relationships with investment professionals, investment advisors, and money managers focused on the microcap market space. This will allow the Company to build and maintain an informed investor audience in both the U.S and Canadian marketplaces.

Torrey Hills Capital has been engaged for an initial term of 12 months at a rate of $3,000 in month one, $5,000 in month two, and $6,500 in month three and for all subsequent months. After the twelve months, the engagement will become month to month subject to a 30-day termination notice by either party after month three. In addition, Hillcrest has agreed to a one-time grant of 300,000 incentive stock options (the "Options") exercisable at a price of $0.06 per share for a period of three years. The Options shall be subject to the terms of the Company's stock option plan and will vest in accordance with the provisions therein and the policies of the TSX Venture Exchange.

Torrey Hills Capital currently has no direct or indirect interest in the securities of Hillcrest, or any right or intent to acquire such an interest except pursuant to the exercise of the above referenced Options.

The appointment of Torrey Hills Capital as an investor relations consultant of Hillcrest and the granting of the Options remain subject to regulatory acceptance of applicable filings with the TSX Venture Exchange.

About Torrey Hills Capital

Torrey Hills Capital was formed in 1998 and is headquartered in Rancho Santa Fe, California. The team of professionals offers experience and expertise in investor relations, corporate communications, non-deal road shows, and market support activities. Torrey Hills Capital specializes in the development and marketing of emerging growth companies which trade in the United States (NYSE, AMEX, and OTC) and in Canada (TSX, TSX-V, and CSE). Marketing activities articulate key investment attributes, strategic direction, and financial expectations, which combine to ensure that client market value fully reflects past achievements and future opportunities. Further information is available at www.torreyhillscapital.com

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

ON BEHALF OF THE BOARD

Donald Currie

Chief Executive Officer and Director

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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8020 Admin

4 months

8020 Admin posted a press release Hillcrest to Attend Energy Blockchain Forum in Hillcrest Petroleum Ltd.

VANCOUVER, B.C. / TheNewswire / March 19, 2018 - Hillcrest Petroleum Ltd. (the "Company" or "Hillcrest") (Trading symbol HRH:TSX.V HLRTF:OTCQB) is pleased to announce that the Company has been invited to attend and participate in an Energy Blockchain Forum at The Amegy Bank Conference Center in Houston Texas Thursday March 22. The Forum is designed to "bring blockchain applications with real purpose to the energy industry" as stated in the brochure.

The Energy Blockchain Forum in Houston is sponsored by Entoro Capital, LLC, BDO and Hart Energy. On January 25th 2018, Hillcrest announced they had engaged Entoro Capital LLC to advise the Company on the potential undertaking of a digital currency Initial Coin Offering. Entoro, in their capacity as advisor to the Company has invited Hillcrest to attend and participate in the Forum.

The panel of subject experts attending include:


Click Image To View Full Size

Participating in the forum is an excellent opportunity for Hillcrest to be further educated by digital security sector experts as it potentially relates to the energy industry." Don Currie, Hillcrest Petroleum CEO, states: "As mentioned in our previous release, Hillcrest is excited to be working with Entoro Capital LLC and jointly pursuing an ICO as an alternate form of financing which could result in additional value for the Company. The investment community has been extremely supportive of alternate currencies and Hillcrest looks forward to supporting our business plan by potentially participating in this new and rapidly evolving investment process. The Company intends to use Western Canadian reserves and production as the value basis for an ICO and will be better placed to attract a broader spectrum of investors. An ICO may be a particularly effective funding alternative for Hillcrest as it could potentially provide access to substantial capital funding to deliver value growth from existing and new Western Canadian oil and gas projects, without exposing existing shareholders to potential dilution through conventional equity funding.

As an oil and gas acquisition and development company, Hillcrest needs to explore additional or alternate ways to finance our growth. The industry had previously financed the majority of acquisitions and development of oil and gas assets through equity offerings and/or bank funds. Capital from traditional funding sources has been proven difficult to access over the past few years. Hillcrest believes Western Canada is full of potential acquisitions of oil and gas assets and can be more aggressive in our pursuit of assets if funding is in place."

ICO and Token Considerations

The Company is reviewing an ICO at this time and may decide to proceed with an ICO offer in the future. Any ICO would be compliant with relevant securities regulation and require Exchange approvals. If the Company decides to proceed with an ICO, it will determine the terms of such offering, and if such offering may be deemed to be either a security under the Securities Act (British Columbia) or a derivative.

If the ICO is determined to be a security, it will require either a prospectus or an exemption from the prospectus requirement to issue Coins and/or Tokens and to effect trades. The Company may utilize the accredited investors exemption, the offering memorandum exemption or such other exemptions from the prospectus requirement detailed in National Instrument 45-106 - Prospectus Exemptions. There is no assurance that such exemptions will be granted. However, in certain instances the issuance of a Token may be determined to be a derivative if the underlying asset of the Coin is a commodity which is not an investment contract. Until the Company finalizes terms of its ICO, it will be unable to determine for certain if the Token is a security or a derivative.

A Token or Coin issued under an ICO would not give the acquirer equity, other interests or rights in the Company equivalent to a holder of common shares. For example, no rights would be granted to participate in the profits or the distribution of assets of the Company, nor any voting rights in any meeting of the security holders of the Company.

If the Company proceeds with an ICO, it is considered that Tokens and Coins would be issued to investors entitling them to the value attached to a specific amount of oil hydrocarbon produced from Company properties included in the ICO.

The Company only recently established oil production in Canada through its well reactivation program in Saskatchewan and is still in the development planning phase for its Saskatchewan and Alberta properties. An ICO linked to oil and gas production from Hillcrest's future oil and gas developments will therefore be a speculative investment, with no time frame defined for when commercial production from the Company's current and future oil and gas properties and projects will commence. Reserves reports from competent 3rd parties on the Company's oil and gas assets and potential future acquisitions are not yet available. The Company intends to commission and provide relevant reports for an ICO as appropriate.

If the Company proceeds with an ICO, then cash will be received for Token and Coin issuances. These will be recorded as liabilities in its financial statements, which will require the delivery of hydrocarbons if commercial production is achieved. Hillcrest shareholders should be aware that, depending on the terms of a Token or Coin issuance, Token or Coin holders will be entitled to receive value in hydrocarbons produced from Company properties included in the ICO, if and when commercial production is achieved. After redemptions of hydrocarbons are satisfied, remaining oil and gas production would be available for the Company to sell. The Company does not intend to create our own platform for the trading of any potential Tokens or Coins.

The Company and Entoro will work together to seek funding to back the proposal and to eventually develop the currency program. The Company intends to utilize the expertise of Entoro Capital LLC and their respective contacts in establishing a potential ICO.

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

ON BEHALF OF THE BOARD

Donald Currie

Chief Executive Officer and Director

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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8020 Admin

4 months

8020 Admin posted a press release Saskatchewan Joint Venture Project Update in Hillcrest Petroleum Ltd.

(via TheNewswire)

VANCOUVER, B.C. / TheNewswire / March 12, 2018 - Hillcrest Petroleum Ltd. (the "Company" or "Hillcrest") is pleased to announce that the Company has submitted the license documents to the Provincial Regulator that are required in order to commence the re-development of the West Hazel oil pool ("the Field"), located in Western Saskatchewan. Regulatory approval is expected before the end of April after which the Company will undertake field operations with the objective of restoring oil production from the Field to approximately 300 barrels of oil per day ("bopd").

Further to previous announcements regarding Western Canada oil assets, the Company has executed an agreement where it, via a wholly owned subsidiary and as operator of record for the field, will earn up to a 75% Working Interest. Production restoration operations are expected to commence during the second quarter of this year. Hillcrest commissioned and received a 3rd party technical report that identifies additional development opportunities within the Field. Both behind-pipe re-completions as well as in-fill drilling potential have been identified, and Hillcrest is planning to pursue production increases from within the Field during the 3rd and 4th quarters of 2018.

The primary terms of the agreement regarding the restoration of production of the Field are as follows:

  • - The Company, as operator, will earn up to 75% Working Interest in the Field by contributing technical expertise and funding to restore production. Hillcrest's Working Interest will revert to 50% once the Company has recovered all production restoration costs from the production revenues.

    - Hillcrest has arranged third party project funding which has been provided on a non-dilutive basis to Hillcrest shareholders. Project funding will be secured by the Assets and by the Company.

    - Additional infield development opportunities, such as well re-completions or development drilling locations, are expected to be financed through cash flow from the assets.

"Hillcrest is very pleased that production restoration operations at the West Hazel field in Saskatchewan are imminent." Don Currie, Hillcrest Petroleum CEO, states: "The project will provide near-term cash flow which may increase if and when we undertake further development operations. The Field was producing over 300 bopd when the former operators suspended production due to cyclically low oil prices. Hillcrest is confident production can be restored to previous levels after which further development will be considered. The Company has a majority working interest in the Field which was obtained at a very attractive cost level. Current commodity prices along with reduced operating expenses are expected to enhance the profitability of the Field. In addition to West Hazel, Hillcrest continues to review and pursue other Western Canada based opportunities and will inform our shareholders as material acquisitions or partnerships occur.,

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

ON BEHALF OF THE BOARD


Donald Currie

Chief Executive Officer and Director

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.

Copyright (c) 2018 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

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8020 Admin

5 months

8020 Admin posted a press release Saskatchewan Production Update in Hillcrest Petroleum Ltd.

(via TheNewswire)

March 6, 2018 / TheNewswire / VANCOUVER, B.C. - Hillcrest Petroleum Ltd. (the "Company" or "Hillcrest") is pleased to provide the following update on the Company's development and production operations in Saskatchewan.

Hillcrest previously announced that production from the 16-13 well was restored in early January of this year. Reported daily production from the well was approximately 19 barrels of oil per day (bopd) during January, increasing slightly to 20 bopd during February. Cumulative reported oil production from the well was approximately 1160 barrels to the end of February, which is in line with the Company's expectations.

Hillcrest also undertook a well work-over operation on the nearby 07-13 well, including production tubing replacement and installation of a new down-hole pump. The 07-13 well was turned over to production on February 19th and has averaged approximately 90 barrels of fluid per day (bfpd), with the reported oil cut slowly increasing from 5% to 20% through to the end of February. With the relatively high total fluid production from the well and the increasing oil cut as production stabilizes, reported daily oil production averaged approximately 18 bopd during the last four days of February. The Company does expect to see an increase in the oil cut from the 07-13 well during March.

Pursuant to the agreement with Westcore Energy Ltd. ("Westcore"), Hillcrest earns a 50% working interest in the production from the wells by providing financial and technical support to the approved workover program.

The Company is pleased with the results of the development and production operations to date, particularly in light of the cold temperatures and harsh operating conditions in the area during late December and into January and February.

The well workover program is a first step towards a contemplated larger acreage development and drilling program agreement under review between Westcore and its partners. Westcore owns and operates two large acreage positions in the Province of Saskatchewan and is in discussions with Hillcrest whereby the Company will have the option to participate in a development program. Hillcrest will advise our shareholders if and when formal agreements are signed and in place.

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

ON BEHALF OF THE BOARD


Donald Currie

Chief Executive Officer and Director

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.

 

Copyright (c) 2018 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

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Darren Stewart posted a press release Hillcrest Announces 1st Tranche Closing Of Unit Private Placement in Hillcrest Petroleum Ltd.

Hillcrest Announces 1st Tranche Closing Of Unit Private Placement

VANCOUVER, B.C. / TheNewswire / February 27, 2018 - Hillcrest Petroleum Ltd. (the "Company" or "Hillcrest") announces that further to its news release of February 6, 2018, the Company has closed the first tranche of the non-brokered private placement of units of the Company (the "Units") at $0.05 per Unit (the "Offering").

The first tranche closing consisted of 8,792,000 Units, for gross proceeds of $439,600. Each Unit consisted of one common share in the capital of the Company (the "Shares") plus one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional Share at a price of $0.10 until February 27, 2020.

All securities issued in connection with this first tranche Offering will be subject to a statutory hold period ending on June 28, 2018 in accordance with applicable securities legislation. The net proceeds from the Offering will be used to advance the company's oil and gas projects in Alberta and Saskatchewan and for general working capital. There were no finder's fees paid on this 1st tranche closing. The balance of the Offering is expected to close on or before March 23, 2018.

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

ON BEHALF OF THE BOARD

Donald Currie
Chief Executive Officer and Director

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.

5 months

Dear 8020 Community Member, in our effort to become the most trusted investor platform in the world, we have launched a new tool to help keep our community safe from social spammers, unsponsored advertising, or comments that could affect other investors in our community. As you can see below, we have added a flagging system. When a post is flagged three times by three different users, it is automatically removed and reviewed by 8020 Admin. Help us protect our community, by thanking people for helpful posts and flagging others for improper posts. Thank you. Darren Stewart, Founder and CEO, 8020 Connect

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Don Currie posted an update in HILLCREST PETROLEUM LTD.

5 months

Good morning Darren. Hillcrest will joining you on ICO xConnect. We hope to have updates on the process we are undertaking soon.

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Don, will you be joining us on ICOxConnect? We are launching a sister platform for Regulated ICO's. I do owe you a phone call.
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Julien Rancourt posted an update inHILLCREST PETROLEUM LTD.

Recent update states that the recent PP price adjustment was "due to market conditions"... but I keep wondering how much impact (if at all) has the IIROC imposed clarification request have ... just curious and definitely not implying falsifications in News Releases.

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Don Currie commented on Julien Rancourt  update in HILLCREST PETROLEUM LTD.

6 months

I will further add Hillcrest remains an oil and gas company that will create value through acquisition and development of oil and gas assets. Accessing digital currencies to potentially develop assets may open the door to a larger collection of investment partners but does not take away from our core objectives.
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Julien Rancourt posted an update inHILLCREST PETROLEUM LTD.

Recent update states that the recent PP price adjustment was "due to market conditions"... but I keep wondering how much impact (if at all) has the IIROC imposed clarification request have ... just curious and definitely not implying falsifications in News Releases.

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Don, as always, thank you very much for clarifying and providing clarity! Much appreciated!
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Julien Rancourt posted an update inHILLCREST PETROLEUM LTD.

Recent update states that the recent PP price adjustment was "due to market conditions"... but I keep wondering how much impact (if at all) has the IIROC imposed clarification request have ... just curious and definitely not implying falsifications in News Releases.

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Don Currie commented on Julien Rancourt  update in HILLCREST PETROLEUM LTD.

6 months

Julien, the clarification release was not mandated by IIROC but by the TSX.V. The TSX.V tried to imply we were moving forward with a change of business when in fact we were clear to say the Company saw an ICO as an alternate form of funding. IIROC was fine with the release.Our next steps are to submit a plan to the exchange regarding a potential ICO funding and how it would be backed by reserves, royalties or actual barrels. Hillcrest will proceed with an ICO application as we have groups interested in such a funding when approved. Last, the placement was re-priced due to market conditions caused by the TSX.V requiring a clarification that in our opinion was not required.
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Julien Rancourt posted an update inHILLCREST PETROLEUM LTD.

Recent update states that the recent PP price adjustment was "due to market conditions"... but I keep wondering how much impact (if at all) has the IIROC imposed clarification request have ... just curious and definitely not implying falsifications in News Releases.

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Julien Rancourt posted an update in HILLCREST PETROLEUM LTD.

6 months

Recent update states that the recent PP price adjustment was "due to market conditions"... but I keep wondering how much impact (if at all) has the IIROC imposed clarification request have ... just curious and definitely not implying falsifications in News Releases.

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8020 Admin

6 months

8020 Admin posted a News Item HRH News Alert: Announces Amended Private Placement in Hillcrest Petroleum Ltd.

Hillcrest Announces Amended Private Placement

(via TheNewswire)

Vancouver, B.C. / TheNewswire / February 6, 2018 - Hillcrest Petroleum Ltd., (the "Company") announces that, further to its new releases of January 18, 2018, it has, due to market conditions, reduced the price of its non-brokered unit private placement (the "Private Placement") from $0.07 per unit to $0.05 per unit. Up to 10,000,000 units will be issued for gross proceeds of up to $500,000. Each unit will consist of one common share and one half of one share purchase warrant. Each whole warrant will entitle the holder to acquire one common share at a price of $0.10 per share for a period of two years from the closing date. Finders fees may be paid in connection with the Private Placement. The proceeds from the Private Placement will be used to advance the Company's oil and gas projects in Alberta and Saskatchewan and for general working capital.

In addition, the Company announces that it has entered into agreements with certain of its creditors pursuant to which it will settle certain outstanding debts of the Company totaling $85,000 by issuing 1,700,000 common shares of the Company at a deemed price of $0.05 per share (the "Debt Settlement").

The issuance of the securities pursuant to the Private Placement and the Debt Settlement are subject to acceptance for filing of the TSX Venture Exchange. All securities issued in connection with the Private Placement and the Debt Settlement will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

 

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.

ON BEHALF OF THE BOARD


Donald Currie

Chief Executive Officer and Director

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.

Copyright (c) 2018 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

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8020 Admin

6 months

8020 Admin posted a News Item HRH News Alert: Offers Clarification on Digital Currency Engagement Agreement in Hillcrest Petroleum Ltd.

Hillcrest Offers Clarification on Digital Currency Engagement Agreement

(via TheNewswire)

VANCOUVER, B.C. / TheNewswire / Hillcrest Petroleum Ltd. (the "Company" or "Hillcrest") is pleased to offer a clarification to our news release of January 25th, 2018, in which the Company announced an engagement agreement with Entoro Capital, LLC ("Entoro") headquartered in Houston, Texas to undertake a potential digital currency Initial Coin Offering ("ICO").

The ICO being considered is intended to be an asset-backed energy security coin offering that will utilize the best of breed blockchain technologies for the Canadian energy market and potentially work towards making the Canadian energy sector more innovative.

Hillcrest engaged Entoro as the Company's agent to provide investment banking, business development and consulting services for potential financing transactions using digital currencies to fund the Company's business plan, which remains primarily focused on developing oil and gas production in Alberta and Saskatchewan, Canada. The Company believes that an ICO would offer a non-dilutive funding option in addition to other funding options currently available.

ICO and Token Considerations

The Company is not conducting an ICO at this time but may decide to do so in the future. Any ICO would be compliant with relevant securities regulation and require Exchange approvals. If the Company decides to proceed with an ICO, it will determine the terms of such offering, and if such offering may be deemed to be either a security under the Securities Act (British Columbia) or a derivative.

If the ICO is determined to be a security, it will require either a prospectus or an exemption from the prospectus requirement to issue Coins and/or Tokens and to effect trades. The Company may utilize the accredited investors exemption, the offering memorandum exemption or such other exemptions from the prospectus requirement detailed in National Instrument 45-106 - Prospectus Exemptions. There is no assurance that such exemptions will be granted. However, in certain instances the issuance of a Token may be determined to be a derivative if the underlying asset of the Coin is a commodity which is not an investment contract. Until the Company finalizes terms of its ICO, it will be unable to determine for certain if the Token is a security or a derivative.

A Token or Coin issued under an ICO would not give the acquirer equity, other interests or rights in the Company equivalent to a holder of common shares. For example, no rights would be granted to participate in the profits or the distribution of assets of the Company, nor any voting rights in any meeting of the security holders of the Company.

If the Company proceeds with an ICO, it is considered that Tokens and Coins would be issued to investors entitling them to the value attached to a specific amount of oil hydrocarbon produced from Company properties included in the ICO.

The Company only recently established oil production in Canada through its well reactivation program in Saskatchewan and is still in the development planning phase for its Saskatchewan and Alberta properties. An ICO linked to oil and gas production from Hillcrest's future oil and gas developments will therefore be a speculative investment, with no time frame defined for when commercial production from the Company's current and future oil and gas properties and projects will commence. Reserves reports from competent 3rd parties on the Company's oil and gas assets and potential future acquisitions are not yet available. The Company intends to commission and provide relevant reports for an ICO as appropriate.

If the Company proceeds with an ICO, then cash will be received for Token and Coin issuances. These will be recorded as liabilities in its financial statements, which will require the delivery of hydrocarbons if commercial production is achieved. Hillcrest shareholders should be aware that, depending on the terms of a Token or Coin issuance, Token or Coin holders will be entitled to receive value in hydrocarbons produced from Company properties included in the ICO, if and when commercial production is achieved. After redemptions of hydrocarbons are satisfied, remaining oil and gas production would be available for the Company to sell. The Company does not intend to create our own platform for the trading of any potential Tokens or Coins.

The Company and Entoro will work together to seek funding to back the proposal and to eventually develop the currency program. The Company intends to utilize the expertise of Entoro Capital LLC and their respective contacts in establishing a potential ICO.

In addition to the above, the Company recently announced a private placement offering of $525,000 and will deploy any funds raised in the offering as outlined in previous press releases, i.e. for further development of its previously announced assets and acquisitions and for general working capital purposes. Further, the Company continues to pursue its stated goal to build value through the acquisition and development of oil and gas assets in Alberta and Saskatchewan.

"Hillcrest is excited to be working with Entoro Capital and jointly pursuing an ICO as an alternate form of financing which could result in additional value for the Company" states Hillcrest CEO Don Currie. "The investment community has been extremely supportive of alternate currencies and Hillcrest looks forward to participating in this new and rapidly evolving investment process. The Company intends to use Western Canadian reserves and production as the value basis for an ICO and will be better placed to attract a broader spectrum of investors. An ICO is considered to be a particularly effective funding alternative for Hillcrest as it may provide access to substantial capital funding to deliver value growth from our existing and new Western Canadian oil and gas projects, without exposing existing shareholders to potential dilution through conventional equity funding. Parallel to the Company working with Entoro, management will continue to focus on the well workover program and potential future drilling program announced with Westcore as well as commencing operations on Western Canadian assets, as previously announced. We will inform our shareholders as developments and material events occur."

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

ON BEHALF OF THE BOARD


Donald Currie

Chief Executive Officer and Director

For more information on Entoro Capital, contact James C. Row, CFA at 1-713-823-2900 (email: ico@entoro.com) or visit the Entoro website atwww.entoro.com.

To stay informed about Hillcrest Petroleum, please join our Investor Group on 8020 Connect http://bit.ly/2xs3IeP for all upcoming news releases, articles comments and questions.

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.

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PKen commented on Don Currie  update in HILLCREST PETROLEUM LTD.

6 months

Thanks for the update Don, I look forward to the next news release. PKen
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Don Currie

6 months

Don Currie posted an update inHILLCREST PETROLEUM LTD.

Release will be issued Monday and trading will resume.

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Don Currie posted an update in HILLCREST PETROLEUM LTD.

6 months

Release will be issued Monday and trading will resume.

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PKen commented on Don Currie  update in HILLCREST PETROLEUM LTD.

6 months

Thank you Don for your quick response. Much appreciated. PKen
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Don Currie

6 months

Don Currie posted an update inHILLCREST PETROLEUM LTD.

The Company is submitting further details of the relationship and expectations with Entoro to the exchange. They have asked for clarification which will all be included in a release. Submissions are being filed and we await response.

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Don Currie posted an update in HILLCREST PETROLEUM LTD.

6 months

The Company is submitting further details of the relationship and expectations with Entoro to the exchange. They have asked for clarification which will all be included in a release. Submissions are being filed and we await response.

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PKen posted an update in HILLCREST PETROLEUM LTD.

6 months

Hello, when is the pending news expected and trading halt being lifted? PKen

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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.

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

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8020 Admin

1 month

8020 Admin posted a press release Hillcrest Appoints Chief Operating Officer and is Approved as Operator in Saskatchewan in Hillcrest Petroleum Ltd.

VANCOUVER, B.C. / TheNewswire / June 13, 2018 - The Company is pleased to announce the appointment of Dale Miller to the position of Chief Operating Officer, effective immediately. Mr. Miller brings over 35 years of Canadian oil and gas operating experience across the Western Canadian Sedimentary basin, building oil and gas companies through production and field development as well as acquisitions and divestments.

Mr. Miller has been engaged to establish and manage Hillcrest's Canadian oil and gas operations, including the West Hazel field re-activation and additional potential producing Canadian oil and gas properties that may be acquired under the recently announced Strategic Alliance with a private company currently sourcing up to US$50,000,000 funding exclusively for oil and gas acquisitions in Canada with Hillcrest.

Under the terms of the Strategic Alliance, Hillcrest will identify, screen and offer potential acquisitions to the private company. If accepted, Hillcrest will facilitate acquisitions, be assigned a 25% carried interest and will operate oil and gas properties acquired, as well as receive management fees and performance bonuses.

As part of his engagement arrangements with the Company, Mr. Miller has been granted 350,000 incentive stock options exercisable at $0.065 per share until June 13, 2022.

In addition, Hillcrest's wholly owned Saskatchewan subsidiary has been approved as an operator of oil and gas assets in Saskatchewan. Being approved as an operator enables the Company to conduct oil and gas operations in Saskatchewan starting with the West Hazel field reactivation to restore previous production of over 200 bbl/day of oil under the terms of a previously announced Joint Venture Agreement ("JVA"). Pursuant to the JVA Hillcrest earns a 75% working interest in exchange for incurring 100% of the reactivation costs.

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

ON BEHALF OF THE BOARD


Donald Currie

Chief Executive Officer and Director

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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8020 Admin

2 months

8020 Admin posted a press release Hillcrest Signs Binding Agreements Forming Strategic Alliance to Pursue Oil and Gas Acquisitions in Western Canada in Hillcrest Petroleum Ltd.

Vancouver, B.C. / TheNewswire / May 29, 2018 - Hillcrest Petroleum Ltd. (the "Company" or "Hillcrest") is pleased to announce that it has signed binding agreements creating a Strategic Alliance (the "Strategic Alliance") with a private company (the "Partner") to pursue oil and gas acquisitions in Western Canada. Under the Strategic Alliance, Hillcrest will grant the Partner an exclusive right of first refusal on pre-screened acquisition opportunities to be operated and managed by Hillcrest and will be assigned a 25% carried interest in any acquired assets in exchange for access to its acquisition opportunity register and oil and gas business management services. The Partner will fund 100% of acquisition and development costs.

Hillcrest has compiled a register of potential oil and gas acquisition targets in Western Canada, selected based on criteria including positive operating cash flow from current production operations and the potential to increase the market value of the assets by more than 3x through field development activities. Hillcrest is currently in various stages of discussions with a number of vendors regarding these acquisition targets.

Under the Strategic Alliance, Hillcrest will offer acquisition opportunities to the Partner. Should the Partner elect to pursue one or more of the acquisition opportunities, Hillcrest will facilitate the acquisition on behalf of the Partner, operate the acquired assets under joint venture agreements and implement field development plans intended to maximize the market value of the acquired assets with capital funding provided by the Partner.

The Partner intends to raise up to $50,000,000 to fund potential acquisition and subsequent development of oil and gas assets through an asset secured token offering attached to the acquired oil and gas assets. The Partner has engaged an investment banking and financial services group with specialist expertise in block chain tokens and has initiated activities with them in preparation to market the tokens in the coming weeks.

As previously announced on May 22nd, and consistent with the terms of the Strategic Alliance, Hillcrest continues to focus on its core business as an oil and gas company with activities directed toward the acquisition, development and management of oil and gas assets.

Highlights of the Strategic Alliance are:

-The Partner has an exclusive first right of refusal to partner with Hillcrest on oil and gas acquisitions in Western Canada identified by Hillcrest.

-The Partner will fund 100% of the acquisition and development costs associated with oil and gas assets.

-Hillcrest will provide oil and gas business management services and will manage and operate assets acquired under the terms of agreements related to the Strategic Alliance between Hillcrest and the Partner.

-Hillcrest will receive a direct 25% carried ownership interest in any assets acquired.

-Hillcrest will receive a management fee and full cost recovery for providing oil and gas business management services to identify, acquire and manage Canadian oil and gas assets, as well as milestone based bonuses and operational performance based bonuses to be agreed with the Partner after assets are acquired.

-The term of the agreements are 5 years, with options to extend.

Don Currie, Hillcrest CEO, states: "The execution of the binding agreements forming this Strategic Alliance with a funding partner is a substantial development for Hillcrest and one that has the ability to fast track our acquisition and development plans. The relationship between the parties will see their capital back our Western Canadian acquisition opportunities, with both parties benefiting as acquisitions are completed and further field development is undertaken to unlock the value in the assets. Assuming the Partner is successful in its financing activities over the coming weeks, Hillcrest would expect to accrue significant short term value increases, at no cost to Hillcrest, through our through carried interest interests in quality oil and gas assets that we have identified and commenced discussions on over the last several months. Further value to Hillcrest could be expected as value is delivered from acquired assets through field development activities managed by Hillcrest and from management fees and various bonus structures under the agreements related to the Strategic Alliance. Another significant benefit, is that Hillcrest will no longer have to consider equity capital raises and/or debt to fund acquisition and development opportunities for growth. We are excited to be aligned with a financial group who recognize and are prepared to invest based on our management team's extensive experience and track record delivering value from upstream oil and gas projects and who share our belief that this is an excellent time to be acquiring assets in the Western Canadian Sedimentary Basin."

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

ON BEHALF OF THE BOARD


Donald Currie

Chief Executive Officer and Director

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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8020 Admin

2 months

8020 Admin posted a press release Hillcrest Signs Letter Agreement to Negotiate a Strategic Alliance to Pursue Oil and Gas Acquisitions in Western Canada in Hillcrest Petroleum Ltd.

May 22, 2018 / TheNewswire / Vancouver, B.C. - Hillcrest Petroleum Ltd. (the "Company" or "Hillcrest") is pleased to announce that it has signed a letter agreement (the "Letter Agreement") with a private company (the "Partner") to negotiate and form a strategic alliance (the "Strategic Alliance") for the purpose of pursuing oil and gas acquisitions in Western Canada. It is anticipated that under the Strategic Alliance, Hillcrest will introduce the Partner to pre-screened acquisition opportunities to be operated and managed by Hillcrest, and the Partner would fund the acquisition and development thereof.

Hillcrest has compiled a register of potential acquisition targets in Western Canada, selected based on criteria including positive operating cash flow from current production operations, and the potential to increase the market value of the assets by more than 3x through field development activities. Hillcrest is currently in discussions with a number of these acquisition targets.

Under the proposed Strategic Alliance, Hillcrest will make these acquisition opportunities available to the Partner. Should the Partner elect to participate in one or more of the acquisition opportunities, Hillcrest will facilitate the acquisition and development of the assets with funding provided by the Partner and operate the acquired assets under joint venture agreements. The Partner intends to raise up to $50,000,000 of funding for potential acquisitions and subsequent development of oil and gas assets through an asset backed token offering attached to the acquired oil and gas assets.

As a result of the Strategic Alliance, Hillcrest is no longer considering asset backed token financings in its own right and will continue focusing on its current business as an oil and gas company with its activities directed toward the acquisition, development and management of oil and gas assets.

It is anticipated that the Strategic Alliance will provide for the following:

  • - The Partner will have an exclusive first right of refusal to partner with Hillcrest and fund 100% of the acquisition and development costs associated with oil and gas assets identified by Hillcrest during the term of the Strategic Alliance.

    - For any assets which the Partner elects to fund, Hillcrest will manage and operate those assets under the terms of joint venture agreements between Hillcrest and the Partner.

    - Hillcrest will receive a 25% carried interest in any assets acquired.

    - Hillcrest will receive a management fee and be entitled to recover its out-of-pocket costs for managing the assets.

The parties expect to complete a binding definitive agreement to give effect to the terms of the Letter Agreement by the end of May 2018.

Don Currie, Hillcrest CEO, states: "Hillcrest is excited to have created a working relationship with our potential new partner. The relationship between the parties will see their capital back our Western Canadian acquisition opportunities, with both parties benefiting as acquisitions are completed and further field development is commenced. The immediate value to Hillcrest is that we expect to be able to acquire significant interests in quality oil and gas assets we have identified and commenced discussions on over the last several months without significant equity capital raises, thus minimising shareholder dilution or avoiding it altogether. Our management team has an extensive track record of delivering value from upstream oil and gas projects and we believe this is an excellent time to be acquiring assets in the Western Canadian Sedimentary Basin."

The Company has granted an aggregate of 300,000 incentive stock options to a director of the Company for the purchase of common shares exercisable at a price of $0.06 per share until May 1, 2022.

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

ON BEHALF OF THE BOARD


Donald Currie

Chief Executive Officer and Director

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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8020 Admin

3 months

8020 Admin posted a press release Hillcrest Engages Torrey Hills Capital in Hillcrest Petroleum Ltd.

April 11, 2018 / TheNewswire / VANCOUVER, B.C. - Hillcrest Petroleum Ltd. (the "Company" or "Hillcrest") (Trading symbol HRH:TSX.V HLRTF:OTCQB) is pleased to announce that it has engaged San Diego Torrey Hills Capital, Inc. ("Torrey Hills Capital"), a Rancho Santa Fe, California based investor relations firm, to provide market awareness and investor relations services to the Company, subject to TSX Venture Exchange acceptance.

Torrey Hills Capital is a leading investor and financial public relations firm specializing in small and micro-cap companies. Torrey Hills Capital will increase awareness about Hillcrest through its established relationships with investment professionals, investment advisors, and money managers focused on the microcap market space. This will allow the Company to build and maintain an informed investor audience in both the U.S and Canadian marketplaces.

Torrey Hills Capital has been engaged for an initial term of 12 months at a rate of $3,000 in month one, $5,000 in month two, and $6,500 in month three and for all subsequent months. After the twelve months, the engagement will become month to month subject to a 30-day termination notice by either party after month three. In addition, Hillcrest has agreed to a one-time grant of 300,000 incentive stock options (the "Options") exercisable at a price of $0.06 per share for a period of three years. The Options shall be subject to the terms of the Company's stock option plan and will vest in accordance with the provisions therein and the policies of the TSX Venture Exchange.

Torrey Hills Capital currently has no direct or indirect interest in the securities of Hillcrest, or any right or intent to acquire such an interest except pursuant to the exercise of the above referenced Options.

The appointment of Torrey Hills Capital as an investor relations consultant of Hillcrest and the granting of the Options remain subject to regulatory acceptance of applicable filings with the TSX Venture Exchange.

About Torrey Hills Capital

Torrey Hills Capital was formed in 1998 and is headquartered in Rancho Santa Fe, California. The team of professionals offers experience and expertise in investor relations, corporate communications, non-deal road shows, and market support activities. Torrey Hills Capital specializes in the development and marketing of emerging growth companies which trade in the United States (NYSE, AMEX, and OTC) and in Canada (TSX, TSX-V, and CSE). Marketing activities articulate key investment attributes, strategic direction, and financial expectations, which combine to ensure that client market value fully reflects past achievements and future opportunities. Further information is available at www.torreyhillscapital.com

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

ON BEHALF OF THE BOARD

Donald Currie

Chief Executive Officer and Director

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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8020 Admin

4 months

8020 Admin posted a press release Hillcrest to Attend Energy Blockchain Forum in Hillcrest Petroleum Ltd.

VANCOUVER, B.C. / TheNewswire / March 19, 2018 - Hillcrest Petroleum Ltd. (the "Company" or "Hillcrest") (Trading symbol HRH:TSX.V HLRTF:OTCQB) is pleased to announce that the Company has been invited to attend and participate in an Energy Blockchain Forum at The Amegy Bank Conference Center in Houston Texas Thursday March 22. The Forum is designed to "bring blockchain applications with real purpose to the energy industry" as stated in the brochure.

The Energy Blockchain Forum in Houston is sponsored by Entoro Capital, LLC, BDO and Hart Energy. On January 25th 2018, Hillcrest announced they had engaged Entoro Capital LLC to advise the Company on the potential undertaking of a digital currency Initial Coin Offering. Entoro, in their capacity as advisor to the Company has invited Hillcrest to attend and participate in the Forum.

The panel of subject experts attending include:


Click Image To View Full Size

Participating in the forum is an excellent opportunity for Hillcrest to be further educated by digital security sector experts as it potentially relates to the energy industry." Don Currie, Hillcrest Petroleum CEO, states: "As mentioned in our previous release, Hillcrest is excited to be working with Entoro Capital LLC and jointly pursuing an ICO as an alternate form of financing which could result in additional value for the Company. The investment community has been extremely supportive of alternate currencies and Hillcrest looks forward to supporting our business plan by potentially participating in this new and rapidly evolving investment process. The Company intends to use Western Canadian reserves and production as the value basis for an ICO and will be better placed to attract a broader spectrum of investors. An ICO may be a particularly effective funding alternative for Hillcrest as it could potentially provide access to substantial capital funding to deliver value growth from existing and new Western Canadian oil and gas projects, without exposing existing shareholders to potential dilution through conventional equity funding.

As an oil and gas acquisition and development company, Hillcrest needs to explore additional or alternate ways to finance our growth. The industry had previously financed the majority of acquisitions and development of oil and gas assets through equity offerings and/or bank funds. Capital from traditional funding sources has been proven difficult to access over the past few years. Hillcrest believes Western Canada is full of potential acquisitions of oil and gas assets and can be more aggressive in our pursuit of assets if funding is in place."

ICO and Token Considerations

The Company is reviewing an ICO at this time and may decide to proceed with an ICO offer in the future. Any ICO would be compliant with relevant securities regulation and require Exchange approvals. If the Company decides to proceed with an ICO, it will determine the terms of such offering, and if such offering may be deemed to be either a security under the Securities Act (British Columbia) or a derivative.

If the ICO is determined to be a security, it will require either a prospectus or an exemption from the prospectus requirement to issue Coins and/or Tokens and to effect trades. The Company may utilize the accredited investors exemption, the offering memorandum exemption or such other exemptions from the prospectus requirement detailed in National Instrument 45-106 - Prospectus Exemptions. There is no assurance that such exemptions will be granted. However, in certain instances the issuance of a Token may be determined to be a derivative if the underlying asset of the Coin is a commodity which is not an investment contract. Until the Company finalizes terms of its ICO, it will be unable to determine for certain if the Token is a security or a derivative.

A Token or Coin issued under an ICO would not give the acquirer equity, other interests or rights in the Company equivalent to a holder of common shares. For example, no rights would be granted to participate in the profits or the distribution of assets of the Company, nor any voting rights in any meeting of the security holders of the Company.

If the Company proceeds with an ICO, it is considered that Tokens and Coins would be issued to investors entitling them to the value attached to a specific amount of oil hydrocarbon produced from Company properties included in the ICO.

The Company only recently established oil production in Canada through its well reactivation program in Saskatchewan and is still in the development planning phase for its Saskatchewan and Alberta properties. An ICO linked to oil and gas production from Hillcrest's future oil and gas developments will therefore be a speculative investment, with no time frame defined for when commercial production from the Company's current and future oil and gas properties and projects will commence. Reserves reports from competent 3rd parties on the Company's oil and gas assets and potential future acquisitions are not yet available. The Company intends to commission and provide relevant reports for an ICO as appropriate.

If the Company proceeds with an ICO, then cash will be received for Token and Coin issuances. These will be recorded as liabilities in its financial statements, which will require the delivery of hydrocarbons if commercial production is achieved. Hillcrest shareholders should be aware that, depending on the terms of a Token or Coin issuance, Token or Coin holders will be entitled to receive value in hydrocarbons produced from Company properties included in the ICO, if and when commercial production is achieved. After redemptions of hydrocarbons are satisfied, remaining oil and gas production would be available for the Company to sell. The Company does not intend to create our own platform for the trading of any potential Tokens or Coins.

The Company and Entoro will work together to seek funding to back the proposal and to eventually develop the currency program. The Company intends to utilize the expertise of Entoro Capital LLC and their respective contacts in establishing a potential ICO.

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

ON BEHALF OF THE BOARD

Donald Currie

Chief Executive Officer and Director

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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8020 Admin

4 months

8020 Admin posted a press release Saskatchewan Joint Venture Project Update in Hillcrest Petroleum Ltd.

(via TheNewswire)

VANCOUVER, B.C. / TheNewswire / March 12, 2018 - Hillcrest Petroleum Ltd. (the "Company" or "Hillcrest") is pleased to announce that the Company has submitted the license documents to the Provincial Regulator that are required in order to commence the re-development of the West Hazel oil pool ("the Field"), located in Western Saskatchewan. Regulatory approval is expected before the end of April after which the Company will undertake field operations with the objective of restoring oil production from the Field to approximately 300 barrels of oil per day ("bopd").

Further to previous announcements regarding Western Canada oil assets, the Company has executed an agreement where it, via a wholly owned subsidiary and as operator of record for the field, will earn up to a 75% Working Interest. Production restoration operations are expected to commence during the second quarter of this year. Hillcrest commissioned and received a 3rd party technical report that identifies additional development opportunities within the Field. Both behind-pipe re-completions as well as in-fill drilling potential have been identified, and Hillcrest is planning to pursue production increases from within the Field during the 3rd and 4th quarters of 2018.

The primary terms of the agreement regarding the restoration of production of the Field are as follows:

  • - The Company, as operator, will earn up to 75% Working Interest in the Field by contributing technical expertise and funding to restore production. Hillcrest's Working Interest will revert to 50% once the Company has recovered all production restoration costs from the production revenues.

    - Hillcrest has arranged third party project funding which has been provided on a non-dilutive basis to Hillcrest shareholders. Project funding will be secured by the Assets and by the Company.

    - Additional infield development opportunities, such as well re-completions or development drilling locations, are expected to be financed through cash flow from the assets.

"Hillcrest is very pleased that production restoration operations at the West Hazel field in Saskatchewan are imminent." Don Currie, Hillcrest Petroleum CEO, states: "The project will provide near-term cash flow which may increase if and when we undertake further development operations. The Field was producing over 300 bopd when the former operators suspended production due to cyclically low oil prices. Hillcrest is confident production can be restored to previous levels after which further development will be considered. The Company has a majority working interest in the Field which was obtained at a very attractive cost level. Current commodity prices along with reduced operating expenses are expected to enhance the profitability of the Field. In addition to West Hazel, Hillcrest continues to review and pursue other Western Canada based opportunities and will inform our shareholders as material acquisitions or partnerships occur.,

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

ON BEHALF OF THE BOARD


Donald Currie

Chief Executive Officer and Director

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.

Copyright (c) 2018 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

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8020 Admin

5 months

8020 Admin posted a press release Saskatchewan Production Update in Hillcrest Petroleum Ltd.

(via TheNewswire)

March 6, 2018 / TheNewswire / VANCOUVER, B.C. - Hillcrest Petroleum Ltd. (the "Company" or "Hillcrest") is pleased to provide the following update on the Company's development and production operations in Saskatchewan.

Hillcrest previously announced that production from the 16-13 well was restored in early January of this year. Reported daily production from the well was approximately 19 barrels of oil per day (bopd) during January, increasing slightly to 20 bopd during February. Cumulative reported oil production from the well was approximately 1160 barrels to the end of February, which is in line with the Company's expectations.

Hillcrest also undertook a well work-over operation on the nearby 07-13 well, including production tubing replacement and installation of a new down-hole pump. The 07-13 well was turned over to production on February 19th and has averaged approximately 90 barrels of fluid per day (bfpd), with the reported oil cut slowly increasing from 5% to 20% through to the end of February. With the relatively high total fluid production from the well and the increasing oil cut as production stabilizes, reported daily oil production averaged approximately 18 bopd during the last four days of February. The Company does expect to see an increase in the oil cut from the 07-13 well during March.

Pursuant to the agreement with Westcore Energy Ltd. ("Westcore"), Hillcrest earns a 50% working interest in the production from the wells by providing financial and technical support to the approved workover program.

The Company is pleased with the results of the development and production operations to date, particularly in light of the cold temperatures and harsh operating conditions in the area during late December and into January and February.

The well workover program is a first step towards a contemplated larger acreage development and drilling program agreement under review between Westcore and its partners. Westcore owns and operates two large acreage positions in the Province of Saskatchewan and is in discussions with Hillcrest whereby the Company will have the option to participate in a development program. Hillcrest will advise our shareholders if and when formal agreements are signed and in place.

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

ON BEHALF OF THE BOARD


Donald Currie

Chief Executive Officer and Director

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.

 

Copyright (c) 2018 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

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Darren Stewart posted a press release Hillcrest Announces 1st Tranche Closing Of Unit Private Placement in Hillcrest Petroleum Ltd.

Hillcrest Announces 1st Tranche Closing Of Unit Private Placement

VANCOUVER, B.C. / TheNewswire / February 27, 2018 - Hillcrest Petroleum Ltd. (the "Company" or "Hillcrest") announces that further to its news release of February 6, 2018, the Company has closed the first tranche of the non-brokered private placement of units of the Company (the "Units") at $0.05 per Unit (the "Offering").

The first tranche closing consisted of 8,792,000 Units, for gross proceeds of $439,600. Each Unit consisted of one common share in the capital of the Company (the "Shares") plus one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional Share at a price of $0.10 until February 27, 2020.

All securities issued in connection with this first tranche Offering will be subject to a statutory hold period ending on June 28, 2018 in accordance with applicable securities legislation. The net proceeds from the Offering will be used to advance the company's oil and gas projects in Alberta and Saskatchewan and for general working capital. There were no finder's fees paid on this 1st tranche closing. The balance of the Offering is expected to close on or before March 23, 2018.

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

ON BEHALF OF THE BOARD

Donald Currie
Chief Executive Officer and Director

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.

5 months

Dear 8020 Community Member, in our effort to become the most trusted investor platform in the world, we have launched a new tool to help keep our community safe from social spammers, unsponsored advertising, or comments that could affect other investors in our community. As you can see below, we have added a flagging system. When a post is flagged three times by three different users, it is automatically removed and reviewed by 8020 Admin. Help us protect our community, by thanking people for helpful posts and flagging others for improper posts. Thank you. Darren Stewart, Founder and CEO, 8020 Connect

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Don Currie posted an update in HILLCREST PETROLEUM LTD.

5 months

Good morning Darren. Hillcrest will joining you on ICO xConnect. We hope to have updates on the process we are undertaking soon.

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Don, will you be joining us on ICOxConnect? We are launching a sister platform for Regulated ICO's. I do owe you a phone call.
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Julien Rancourt posted an update inHILLCREST PETROLEUM LTD.

Recent update states that the recent PP price adjustment was "due to market conditions"... but I keep wondering how much impact (if at all) has the IIROC imposed clarification request have ... just curious and definitely not implying falsifications in News Releases.

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Don Currie commented on Julien Rancourt  update in HILLCREST PETROLEUM LTD.

6 months

I will further add Hillcrest remains an oil and gas company that will create value through acquisition and development of oil and gas assets. Accessing digital currencies to potentially develop assets may open the door to a larger collection of investment partners but does not take away from our core objectives.
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Julien Rancourt posted an update inHILLCREST PETROLEUM LTD.

Recent update states that the recent PP price adjustment was "due to market conditions"... but I keep wondering how much impact (if at all) has the IIROC imposed clarification request have ... just curious and definitely not implying falsifications in News Releases.

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Don, as always, thank you very much for clarifying and providing clarity! Much appreciated!
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Julien Rancourt posted an update inHILLCREST PETROLEUM LTD.

Recent update states that the recent PP price adjustment was "due to market conditions"... but I keep wondering how much impact (if at all) has the IIROC imposed clarification request have ... just curious and definitely not implying falsifications in News Releases.

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Don Currie commented on Julien Rancourt  update in HILLCREST PETROLEUM LTD.

6 months

Julien, the clarification release was not mandated by IIROC but by the TSX.V. The TSX.V tried to imply we were moving forward with a change of business when in fact we were clear to say the Company saw an ICO as an alternate form of funding. IIROC was fine with the release.Our next steps are to submit a plan to the exchange regarding a potential ICO funding and how it would be backed by reserves, royalties or actual barrels. Hillcrest will proceed with an ICO application as we have groups interested in such a funding when approved. Last, the placement was re-priced due to market conditions caused by the TSX.V requiring a clarification that in our opinion was not required.
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Julien Rancourt posted an update inHILLCREST PETROLEUM LTD.

Recent update states that the recent PP price adjustment was "due to market conditions"... but I keep wondering how much impact (if at all) has the IIROC imposed clarification request have ... just curious and definitely not implying falsifications in News Releases.

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Julien Rancourt posted an update in HILLCREST PETROLEUM LTD.

6 months

Recent update states that the recent PP price adjustment was "due to market conditions"... but I keep wondering how much impact (if at all) has the IIROC imposed clarification request have ... just curious and definitely not implying falsifications in News Releases.

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8020 Admin

6 months

8020 Admin posted a News Item HRH News Alert: Announces Amended Private Placement in Hillcrest Petroleum Ltd.

Hillcrest Announces Amended Private Placement

(via TheNewswire)

Vancouver, B.C. / TheNewswire / February 6, 2018 - Hillcrest Petroleum Ltd., (the "Company") announces that, further to its new releases of January 18, 2018, it has, due to market conditions, reduced the price of its non-brokered unit private placement (the "Private Placement") from $0.07 per unit to $0.05 per unit. Up to 10,000,000 units will be issued for gross proceeds of up to $500,000. Each unit will consist of one common share and one half of one share purchase warrant. Each whole warrant will entitle the holder to acquire one common share at a price of $0.10 per share for a period of two years from the closing date. Finders fees may be paid in connection with the Private Placement. The proceeds from the Private Placement will be used to advance the Company's oil and gas projects in Alberta and Saskatchewan and for general working capital.

In addition, the Company announces that it has entered into agreements with certain of its creditors pursuant to which it will settle certain outstanding debts of the Company totaling $85,000 by issuing 1,700,000 common shares of the Company at a deemed price of $0.05 per share (the "Debt Settlement").

The issuance of the securities pursuant to the Private Placement and the Debt Settlement are subject to acceptance for filing of the TSX Venture Exchange. All securities issued in connection with the Private Placement and the Debt Settlement will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

 

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.

ON BEHALF OF THE BOARD


Donald Currie

Chief Executive Officer and Director

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.

Copyright (c) 2018 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

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8020 Admin

6 months

8020 Admin posted a News Item HRH News Alert: Offers Clarification on Digital Currency Engagement Agreement in Hillcrest Petroleum Ltd.

Hillcrest Offers Clarification on Digital Currency Engagement Agreement

(via TheNewswire)

VANCOUVER, B.C. / TheNewswire / Hillcrest Petroleum Ltd. (the "Company" or "Hillcrest") is pleased to offer a clarification to our news release of January 25th, 2018, in which the Company announced an engagement agreement with Entoro Capital, LLC ("Entoro") headquartered in Houston, Texas to undertake a potential digital currency Initial Coin Offering ("ICO").

The ICO being considered is intended to be an asset-backed energy security coin offering that will utilize the best of breed blockchain technologies for the Canadian energy market and potentially work towards making the Canadian energy sector more innovative.

Hillcrest engaged Entoro as the Company's agent to provide investment banking, business development and consulting services for potential financing transactions using digital currencies to fund the Company's business plan, which remains primarily focused on developing oil and gas production in Alberta and Saskatchewan, Canada. The Company believes that an ICO would offer a non-dilutive funding option in addition to other funding options currently available.

ICO and Token Considerations

The Company is not conducting an ICO at this time but may decide to do so in the future. Any ICO would be compliant with relevant securities regulation and require Exchange approvals. If the Company decides to proceed with an ICO, it will determine the terms of such offering, and if such offering may be deemed to be either a security under the Securities Act (British Columbia) or a derivative.

If the ICO is determined to be a security, it will require either a prospectus or an exemption from the prospectus requirement to issue Coins and/or Tokens and to effect trades. The Company may utilize the accredited investors exemption, the offering memorandum exemption or such other exemptions from the prospectus requirement detailed in National Instrument 45-106 - Prospectus Exemptions. There is no assurance that such exemptions will be granted. However, in certain instances the issuance of a Token may be determined to be a derivative if the underlying asset of the Coin is a commodity which is not an investment contract. Until the Company finalizes terms of its ICO, it will be unable to determine for certain if the Token is a security or a derivative.

A Token or Coin issued under an ICO would not give the acquirer equity, other interests or rights in the Company equivalent to a holder of common shares. For example, no rights would be granted to participate in the profits or the distribution of assets of the Company, nor any voting rights in any meeting of the security holders of the Company.

If the Company proceeds with an ICO, it is considered that Tokens and Coins would be issued to investors entitling them to the value attached to a specific amount of oil hydrocarbon produced from Company properties included in the ICO.

The Company only recently established oil production in Canada through its well reactivation program in Saskatchewan and is still in the development planning phase for its Saskatchewan and Alberta properties. An ICO linked to oil and gas production from Hillcrest's future oil and gas developments will therefore be a speculative investment, with no time frame defined for when commercial production from the Company's current and future oil and gas properties and projects will commence. Reserves reports from competent 3rd parties on the Company's oil and gas assets and potential future acquisitions are not yet available. The Company intends to commission and provide relevant reports for an ICO as appropriate.

If the Company proceeds with an ICO, then cash will be received for Token and Coin issuances. These will be recorded as liabilities in its financial statements, which will require the delivery of hydrocarbons if commercial production is achieved. Hillcrest shareholders should be aware that, depending on the terms of a Token or Coin issuance, Token or Coin holders will be entitled to receive value in hydrocarbons produced from Company properties included in the ICO, if and when commercial production is achieved. After redemptions of hydrocarbons are satisfied, remaining oil and gas production would be available for the Company to sell. The Company does not intend to create our own platform for the trading of any potential Tokens or Coins.

The Company and Entoro will work together to seek funding to back the proposal and to eventually develop the currency program. The Company intends to utilize the expertise of Entoro Capital LLC and their respective contacts in establishing a potential ICO.

In addition to the above, the Company recently announced a private placement offering of $525,000 and will deploy any funds raised in the offering as outlined in previous press releases, i.e. for further development of its previously announced assets and acquisitions and for general working capital purposes. Further, the Company continues to pursue its stated goal to build value through the acquisition and development of oil and gas assets in Alberta and Saskatchewan.

"Hillcrest is excited to be working with Entoro Capital and jointly pursuing an ICO as an alternate form of financing which could result in additional value for the Company" states Hillcrest CEO Don Currie. "The investment community has been extremely supportive of alternate currencies and Hillcrest looks forward to participating in this new and rapidly evolving investment process. The Company intends to use Western Canadian reserves and production as the value basis for an ICO and will be better placed to attract a broader spectrum of investors. An ICO is considered to be a particularly effective funding alternative for Hillcrest as it may provide access to substantial capital funding to deliver value growth from our existing and new Western Canadian oil and gas projects, without exposing existing shareholders to potential dilution through conventional equity funding. Parallel to the Company working with Entoro, management will continue to focus on the well workover program and potential future drilling program announced with Westcore as well as commencing operations on Western Canadian assets, as previously announced. We will inform our shareholders as developments and material events occur."

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

ON BEHALF OF THE BOARD


Donald Currie

Chief Executive Officer and Director

For more information on Entoro Capital, contact James C. Row, CFA at 1-713-823-2900 (email: ico@entoro.com) or visit the Entoro website atwww.entoro.com.

To stay informed about Hillcrest Petroleum, please join our Investor Group on 8020 Connect http://bit.ly/2xs3IeP for all upcoming news releases, articles comments and questions.

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.

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PKen commented on Don Currie  update in HILLCREST PETROLEUM LTD.

6 months

Thanks for the update Don, I look forward to the next news release. PKen
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Don Currie

6 months

Don Currie posted an update inHILLCREST PETROLEUM LTD.

Release will be issued Monday and trading will resume.

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Don Currie posted an update in HILLCREST PETROLEUM LTD.

6 months

Release will be issued Monday and trading will resume.

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PKen commented on Don Currie  update in HILLCREST PETROLEUM LTD.

6 months

Thank you Don for your quick response. Much appreciated. PKen
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Don Currie

6 months

Don Currie posted an update inHILLCREST PETROLEUM LTD.

The Company is submitting further details of the relationship and expectations with Entoro to the exchange. They have asked for clarification which will all be included in a release. Submissions are being filed and we await response.

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Don Currie posted an update in HILLCREST PETROLEUM LTD.

6 months

The Company is submitting further details of the relationship and expectations with Entoro to the exchange. They have asked for clarification which will all be included in a release. Submissions are being filed and we await response.

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PKen posted an update in HILLCREST PETROLEUM LTD.

6 months

Hello, when is the pending news expected and trading halt being lifted? PKen

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