Hemisphere Energy (HMENF) Update - Nov 30

Post Reply
dan_s
Posts: 34465
Joined: Fri Apr 23, 2010 8:22 am

Hemisphere Energy (HMENF) Update - Nov 30

Post by dan_s »

Don Simmons made a good presentation at our luncheons today. They have another meeting tonight in Houston and a presentation in Dallas tomorrow.

Production is now up to 2,100 BOPD (from 1,670 BOPD in Q3) and the new wells that will be completed in the F Pool should take production up to 2,300+ BOPD in January. More G Pool wells next summer and impact of the Polymer flood should push production up to 3,000 BOPD by this time next year. Don's guidance is for 2022 production to average 2,550 BOPD, which is what my forecast is based on. I now think the average could be higher next year since the polymers being injected into the G Pool are starting to increase pressure and push more oil to the producing wells.

The slide presentation is now on their website. See slide 8 which shows why the share price should double when 12/31/2021 reserve report comes out.
Dan Steffens
Energy Prospectus Group
dan_s
Posts: 34465
Joined: Fri Apr 23, 2010 8:22 am

Re: Hemisphere Energy (HMENF) Update - Nov 30

Post by dan_s »

Here is the direct link to the slides that Don Simmons spoke from at our luncheon yesterday
https://www.hemisphereenergy.ca/sites/d ... -Final.pdf

My valuation of $1.95US per share is supported by what is on slide 8 and slide 11. Note that what is on slide 11 is based on WTI averaging $60US/bbl in 2022.

Also, Hemisphere's year-end 2021 reserve report is going to show a much higher net asset value than the year end 2020 report that was based on an oil price of $47/bbl.
Dan Steffens
Energy Prospectus Group
Post Reply