Hemisphere Energy Corporation
TSX VENTURE : HME

Hemisphere Energy Corporation

August 25, 2010 12:44 ET

Hemisphere Energy Announces Results of Annual General Meeting

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 25, 2010) - Hemisphere Energy Corporation (TSX VENTURE:HME) is pleased to announce the results of the Annual General Meeting of its shareholders held on August 17, 2010, as follows:

  (i)   each of Management's nominees for director, being Don Simmons, Charles O'Sullivan, Frank Borowicz, Bruce McIntyre, Greg Sadler, and Gregg Vernon, was re-elected a director;
       
  (ii)   Smythe Ratcliffe LLP were re-appointed as Auditors;
       
  (iii)   shareholders approved the renewal of Hemisphere Energy's Incentive Stock Option Plan;
       
  (iv)   shareholders approved the implementation of Hemisphere Energy's Shareholder Rights Plan.

The Management and Board of Director's of Hemisphere Energy would like to thank Ken Maddison for his service as a Director and Chairman of the Audit Committee over the past several years. Mr. Maddison provided excellent accounting support and we wish him all the best in his future endeavors.

Hemisphere Energy currently has production from 4 Halfway liquid-rich natural gas wells on its Trutch Property in northeast British Columbia where it recently closed an acquisition to increase its working interest in the production and land holdings. Hemisphere also has production from 10 Edmonton Sand natural gas wells on its Sylvan Lake Property in central Alberta.

Hemisphere Energy's Management and Board view the market conditions as providing an excellent opportunity to aggressively pursue value-added acquisitions and farm-ins. Hemisphere Energy is evaluating other opportunities that complement its producing Trutch and Sylvan Lake properties in western Canada.

HEMISPHERE ENERGY CORPORATION

Don Simmons, President & CEO

Forward-looking Statements

This news release contains "forward-looking statements" that are based on Hemisphere's current expectations, estimates, forecasts and projections. These forward-looking statements include statements regarding Hemisphere's outlook for our future operations, plans and timing for the commencement or advancement of exploration and development activities on our properties, and other expectations, intention and plans that are not historical fact. The words "estimates", "projects", "expects", "intends", "believes", "plans", or their negatives or other comparable words and phrases are intended to identify forward-looking statements. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Many of these factors are beyond the control of Hemisphere. Consequently, all forward-looking statements made in this news release are qualified by this cautionary statement and there can be no assurance that actual results or developments anticipated by Hemisphere will be realized. For the reasons set forth above, investors should not place undue reliance on such forward-looking statements. Hemisphere disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.

This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from the expected results.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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