Hemisphere Energy Corporation
TSX VENTURE : HME

Hemisphere Energy Corporation

April 18, 2012 09:00 ET

Hemisphere Energy Announces 206 BOPD Production Rate from Horizontal Well on Jenner Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 18, 2012) - Hemisphere Energy Corporation (TSX VENTURE:HME) announces it has commenced production on its most recent horizontal well that targeted oil in the Glauconitic formation in the Jenner area of southeast Alberta. The new well was rig released on March 10, 2012 and was drilled as part of the commitment obligations of the farm-in agreement announced on January 25, 2012. The oil well has been producing since April 11, 2012 and the average production rate over the last 120 hours has been approximately 206 barrels-of-oil per day (BOPD) and a 7% water-cut.

The Company is currently planning a summer drill program and installing infrastructure to handle additional fluid at its Jenner oil facilities.

Hemisphere Energy has access to over 11,500 acres of land in the Jenner area. The Jenner property has multiple zones of potential, year-round access and low cost drilling and completion operations where Hemisphere owns and operates production infrastructure.

Hemisphere is focused on building and developing core areas that provide low to medium risk drilling opportunities to increase production, reserves and cash flow.

HEMISPHERE ENERGY CORPORATION

Don Simmons - P.Geol, 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.

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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