Western Canada

In January 2018, operations commenced to restore production from two shut in oil wells in Saskatchewan under and agreement with Westcore Energy Ltd. Under the agreement, Hillcrest earns a 50% working interest the wells by providing financial and technical support to the approved workover program. The well workover program is a first step towards a contemplated larger drilling and development program arrangement between Westcore and its partners. Westcore owns and operates two large acreage positions in Saskatchewan.

Hillcrest announced an agreement with a private Canadian Oil and Gas company on May 10, 2017, to restore approximately 200 to 400 bbl/d oil production from two currently shut in oil fields in Alberta and Saskatchewan. Under the agreement, Hillcrest earns an initial 75% Working Interest reducing to 50% after cost recovery and will operate the two oil producing properties. Planning is underway to restore production from the first of the properties, with production operations expected to commence from the Saskatchewan property during Q1 2018.