Today's Luncheon in Houston - Nov 28

[dan_s]

Monday, November 28th:
Hemisphere Energy will be hosting our luncheon at Fratelli’s Restaurant. < 1330 Wirt Rd Ste D, Houston, TX 77055
Doors open at 11:00 am, Lunch is served at 11:30 am, Presentations begin at 12:00 pm. EPG Members can attend for FREE and non-members are welcome at a cost of $25 if they register on our website. SEATING IS LIMITED so please register early to reserve your seat.

Hemisphere has paid for 40 lunches and we have 34 registered. Just call Sabrina if you'd like to fill an empty seat 832-788-9304

Fratelli's serves very good food.

[Fraser921]

I wish I was there

[dan_s]

I miss the Hess Club. Pre-Pandemic we were having 80-100 attendees at each luncheon.

[Cliff_N]

Great session, learned a lot, my first luncheon will be back!

Thanks

Cliff and Jane

[dan_s]

Don is a great guy and his whole team has done a wonderful job with Hemisphere.
> The polymer flood at Atlee Buffalo is working.
> With minimal capital requirements, the combined production of the G Pool and the F Pool within Atlee Buffalo should average 3,500 Boepd in 2023 and 4,000 Boepd in 2024.
> Even at an oil price of $50Cdn/bbl in 2023, Hemisphere should generate over $9Cdn million net income and over $21Cdn million operating cash flow next year, which is more than enough to cover all capex and their current dividend. Today, Hemisphere's heavy oil is selling for around $75Cdn per barrel since the U.S. heavy oil draws from the SPR has widened the differential. In Q2, Hemisphere's heavy oil sold for $107.57/bbl net of the differential and some cash settlements on the Company's hedges.
> If Don doesn't find a good acquisition in 2023, I expect them to pay a "Fixed + Special Dividend" policy.

KEY POINT TODAY: Hemisphere's year-end reserve report is going to be STRONG and show a PV10 Net Asset Value of at least double the current share price.

[allen46]

I live in western NY so can't attend the luncheons. Wish I could. Question. I bought a large position in Hemisphere in April/Nay after their first luncheon. I barely over water on the purchase. Thought it would do much better. What is different now? I'm thinking of buying more but an hesitant.

[dan_s]

Hemisphere produces heavy oil. Heavy oil differentials have widened due to U.S. drawing more heavy oil from the SPR. When SPR draws stop, the differential will go back down.

The year-end 3rd party reserve report will show that the stock is grossly undervalued.