Energy Prospectus

Initiates a dividend

https://www.hemisphereenergy.ca/sites/d ... 20JUNE.pdf

Good news! About 5% dividend. I own a bunch!

Hemisphere Energy Corp. (HMENF) on Tuesday rose nearly 4% on last look after reporting an updated outlook for 2022 and other updates.

The company said it now expects adjusted funds flow for 2022 of $52 million, or $0.53 per basic share, instead of the previously expected adjusted funds flow of $37 million, or $0.39 per basic share.

Hemisphere Energy (HMENF) is now planning to drill up to eight wells in 2022, including three that will be re-drilled from current wellbores in order to use existing equipment, minimize costs, and lower abandonment liabilities.

The company has completed the renewal of its extendible two-year committed term facility with ATB Financial, providing for borrowings of up to $35 million.

The board has approved a variable dividend policy targeting about 30% of Hemisphere's annual free funds flow to be paid quarterly. The quarterly cash dividend paid to Hemisphere shareholders will be $0.025 per share on June 30 to shareholders of record as of the close of business on June 15.

And the remainder of the $12,000,000 in debt will be extinguished with the remaining FCF, which means that can be recycled next year into more goodies for the shareholders, or another $.10 per share

I believe higher dividends in 2023 is Don Simmon's goal. He owns a lot of stock.