Hemisphere Energy (HMENF) Update - Nov 30
Posted: Tue Nov 30, 2021 4:56 pm
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.
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.