Focus on key oil & gas assets and an “all-star” team catalyst for Hemisphere’s +130% share rise this year
November 18, 2016 — Don Simmons, President and CEO of Hemisphere Energy Corporation (TSXV: HME), in an interview with InvestorIntel Corp. CEO Tracy Weslosky discuss a focus on key oil & gas assets and an “all-star” management team as contributors of the 130% share price increase this year. Introducing the corporate story and professional quarterbacks that have aligned their talents and invested in Hemisphere Energy, Don provides an overview on the latest news releases, drill results as they discuss the overall oil & gas industry.
Tracy Weslosky: Don we are delighted to have been introduced to Hemisphere Energy. I see your stock has moved up over 130% since the New Year in the oil and gas industry – what is Hemisphere doing differently?
Don Simmons: We are focusing on key assets and have the management team to execute on it. That’s what our focus has been through this downturn and as we’re seeing things (get) better now we’ll continue to focus on what makes the most sense and adds the most value.
Tracy Weslosky: Your board and management team are very impressive. I read some bios and it seems like you put together just all-star professional team here. Can you give the InvestorIntel audience new to Hemisphere Energy, kind of, an overview?
Don Simmons: We have a great supportive board. This is a board I’ve worked with for a number of years, in some cases more than a decade. These people bring a vast amount of experience in the oil and gas business from the past decades. When we look at our management team, our CFO, Dorlyn Evancic, COO Ian Duncan, Vice President of Engineering Ashley Ramsden-Wood and our Vice President of Exploration Andrew Arthur, all are key people that have got years of experience in doing what we do best. We’re supported by great number of other team members that are in the field, in our operations, in our accounting, in our land, in our business development and even on the geophysics side. We have a great team that’s been able to execute in good and bad times.
Tracy Weslosky: Well, obviously your shareholders like your results. You just had some production results recently from your Atlee well? What were these production results and why are they being translated so well and do you think you’ve hit your market valuation yet?
Don Simmons: Well, I actually don’t think that our new well is being valued into our story at all. I think it’s something that it’s just a factor that’s going to take some time for people to understand the important of this well and the importance of this pool for the company going forward. Most of our long-term shareholders are well aware of what we’ve done over the past years in Atlee Buffalo in really taking a property that had very little production and something we focused on to add a lot of reserves and production. The G pool significantly though and more importantly recently with our new well there it’s the first producing well into this pool. This is a 38 million barrel original oil in place pool. Only 3% of the productions been taken out. There’s a huge amount of upside, huge amount of future growth for the company in that pool.
Tracy Weslosky: And, of course, in that particular news release you reference a reservoir and production concepts. Can you tell me what you mean by this?
Don Simmons: In this part of southern Alberta it’s fairly common for these pools of this size to be developed with horizontal wells and then followed up with secondary recovery or a water flood. These are things that have been going on for decades…to access the complete interview, click here
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