2011-03-30-2011-03-16-2011-03-29

Acquired oil property in Jenner area of SE AB, gaining 25 BO/d.

Hemisphere Energy Corp., Vancouver, B.C., (Toronto Venture: HME) has closed the acquisition of an oil producing property in the Jenner area of southeastern Alberta for C$1.1 million.

Through the Jenner acquisition, Hemisphere acquires production of approximately 25 barrels of oil per day, associated facilities and infrastructure and 100% working interest in 2,600 acres of land. A 3-D seismic survey that covers a portion of the acquired lands was included in the acquisition.

The Jenner acquisition is strategically aligned with Hemisphere's focus on oil production growth in southeast Alberta by developing core areas with multiple zones of potential that provide low- to medium-risk drilling opportunities that will increase its production, reserves and cash flow.

Acquiring the Jenner property enables Hemisphere to control the development and exploration of the land base in the area. The wellbores and facilities included on the Jenner property are of strategic value to Hemisphere going forward with its plans to grow production in southeast Alberta.