Highlands Natural Resources increases position at Helios Two

18th Jul 2016 12:12

(ShareCast News) - Natural resources company Highlands Natural Resources announced on Monday that it has significantly increased its land position in the core of the Helios Two prospect area, located in Custer, Carter and Fallon counties, Montana.The London-listed firm confirmed the size of the increase was 15,623.59 acres, bringing its total to 74,657.41 acres, and was acquired for a total cash consideration of $53,734.16.Highlands' management said it is advancing conversations with several parties including international industrial gas companies and oil and gas companies as potential joint venture partners."We increased the size of our Helios Two Project in Montana due to the compelling initial expectations set by RPS Knowledge Reservoir in its Competent Persons Report regarding the recoverable natural gas and helium volumes and projected net present value for the project," said Highlands CEO Robert Price."We are confident that we can maximise value by developing the asset together with industry partners."Price said the company's management believes Helios Two may represent a significant bypassed resource."Our exploration and resource identification process often leverages data that is not available through standard industry databases or online resources."We hope shareholders will share in our excitement for the project and look forward to providing the market with updates in respect to our partner discussions as well as developments elsewhere in our portfolio, where our main priority is to commercialise our DT Ultravert refracking technology," Price explained.