Welcome To Hillcrest Petroleum
Hillcrest Petroleum Ltd., is a publicly traded independent oil and gas production company headquartered in Vancouver, British Columbia, Canada.
Hillcrest Petroleum Ltd. plans to deliver value growth for its shareholders by acquiring and operating north American conventional oil and gas assets, focusing primarily on Canada’s Western Sedimentary Basin. Targeted acquisitions must demonstrate substantial development upside with the potential to deliver multiples of the acquisition price within 2 to 4 years. The current state of the Canadian oil and gas industry, after a period of sustained low oil prices, presents numerous undervalued properties for potential acquisition and development in a low cost service environment.
Hillcrest announced a Joint Venture Agreement with a private Canadian oil and gas company on 10 May, 2017 whereby Hillcrest will earn an initial 75% Working Interest to operate and re-establish 200 to 400 barrels of oil per day production from two petroleum assets located in Western Canada. Production operations are planned to commence in the first quarter of 2018.
Hillcrest has also entered agreements to re-start a number of individual shut in oil wells and is active in discussions to acquire additional properties to add substantial company growth in 2018.
In addition, on 25 January 2018, Hillcrest announced it has signed an engagement letter with Entoro Capital LLC to establish a digital or crypto currency Initial Coin Offering (“ICO”) to create an asset backed energy security coin offering that will utilize the best of breed blockchain technologies for the Canadian energy market. The Company intends to use Western Canadian reserves and production as the value basis for an ICO and will be better placed to attract a broader spectrum of investors.
Hillcrest Petroleum Ltd. shares are publicly traded on the TSX.V under the symbol HRH and in the USA under the symbol HLRTF.