Vancouver BC, January 10, 2012. Hemisphere Energy Corporation (TSXV: HME) announces it has completed and equipped its third horizontal well targeting oil in the Glauconitic formation on its Jenner property in southeast Alberta. The new 100% owned and operated horizontal well has been producing for twelve days and the average production rate over the last 72 hours has been approximately 207 barrels-of-oil per day (BOPD).
Hemisphere currently has oil production from its Jenner property in southeast Alberta, natural gas production from its Sylvan Lake and Wainwright properties in central Alberta and liquids-rich natural gas production from its Trutch property in northeast British Columbia. Hemisphere is planning additional wells on its land base in Jenner, where it holds over 6900 net acres of land.
Hemisphere is focused on building and developing core areas that provide low to medium risk drilling opportunities to increase production, reserves and cash flow.
For further information on Hemisphere Energy Corporation, please visit our website or call Don Simmons, President and CEO at (604) 685-9255.
HEMISPHERE ENERGY CORPORATION
Don Simmons – P.Geol
President & CEO
Forward-looking Statements
This news release contains "forward-looking statements" that are based on Hemisphere’s current expectations, estimates, forecasts and projections. These forward-looking statements include statements regarding Hemisphere’s outlook for our future operations, plans and timing for the commencement or advancement of exploration and development activities on our properties, and other expectations, intention and plans that are not historical fact. The words "estimates", "projects", "expects", "intends", "believes", "plans", or their negatives or other comparable words and phrases are intended to identify forward-looking statements. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Many of these factors are beyond the control of Hemisphere. Consequently, all forward-looking statements made in this news release are qualified by this cautionary statement and there can be no assurance that actual results or developments anticipated by Hemisphere will be realized. For the reasons set forth above, investors should not place undue reliance on such forward-looking statements. Hemisphere disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.