Hemisphere Energy Corporation

11:29 AM EST - Hemisphere Energy Corporation : Announced highlights from its independent reserves evaluation effective as at December 31, 2017 prepared by McDaniel & Associates Consultants Ltd. In September 2017, Hemisphere entered into a five-year term loan with a borrowing base of up to $35.0 million U.S. This has allowed Hemisphere to actively move forward with development of its Atlee Buffalo assets in the Upper Mannville F and G pools. During 2017, Hemisphere spent $8.3 million which included capital to drill six wells, expand its F pool facility, and construct a new facility for G pool production. Reserve growth through 2017 is a direct result of the recognized waterflood success in Atlee Buffalo, with Hemisphere's Proved reserve volumes exceeding Hemisphere's year-end 2016 Proved plus Probable reserve volumes. Hemisphere Energy Corporation shares V.HME are trading down $0.015 at $0.20.