11:36 AM EST - Hemisphere Energy Corporation : Announced highlights from its independent reserves evaluation as at December 31, 2016 prepared by McDaniel & Associates Consultants Ltd. In 2016, Hemisphere's estimated average corporate production rate was 526 boe/d (86% oil). Throughout the year the Company invested $2.4 million of development capital with specific focus on drilling its first producing oil well in the Atlee Buffalo G Pool and building a water handling and re-injection facility at its Atlee Buffalo F Pool. With very little capital spent in a year of depressed commodity pricing, Hemisphere achieved another year of significant reserve growth adding 823 Mboe of Proved plus Probable reserves at a finding and development cost of $7.49/boe, including changes in future development costs. Hemisphere Energy Corporation
shares V.HME are trading up $0.015 at $0.31.
