Highlands Natural Resources to start drilling programme in Southeast Montana

17th Aug 2016 15:46

(ShareCast News) - Highlands Natural Resources said on Wednesday that it plans to drill two new wells in Southeast Montana in the next 30 days after it filed permits with state authorities.The company said the pilot drilling programme will target natural gas and helium and is aimed to demonstrate the technical and economic viability of the proposed dewatering technique to potentially unlock significant bypassed resource.Highlands said it is in conversations with several parties including international industrial gas companies and oil and gas companies as potential joint venture partners.Chief executive officer Robert B. Price said: "I am pleased to report the continued efforts of the Highlands team in securing and enhancing its existing lease position in the Helios Two project, and in progressing it to a drillable status. "Subject to receipt of permit and other approvals, we are now prepared to commence drilling and dewatering operations in order to validate the economics of potential natural gas and helium resources at Helios Two."At 1550 BST, shares were up 0.5% to 28.14p.