Northern Hemisphere Development Corp.
TSX VENTURE : NHD

Northern Hemisphere Development Corp.

April 04, 2006 11:12 ET

Northern Hemisphere Development Corp.: New Pool Discovery at Bulwark Project

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 4, 2006) - The Board of Directors of Northern Hemisphere Development Corp. (the "Company") (TSX VENTURE:NHD) wishes to announce that, further to News Release 06-01 dated January 4, 2006, the well WRI Provo 10-24-38-13 W4M, was successfully re-entered in January 2006. The well has been completed as a Viking Formation oil producer. The well was completed and pressure tested. Subsequently, it was determined that a stimulation ("frac") was required. A 20 tonne frac was performed, and the well was production tested. Final rates after recovery of the frac fluid indicated a daily flow rate of 49 barrels per day. The well is currently being equipped for production with a battery and will be placed on production as soon as construction is completed.

This discovery constitutes a new pool discovery for the Company. The operator currently has plans for an additional 4 wells to develop the pool. The implementation of the development plan will be subject to regulatory approval and is planned to proceed in the 3rd or 4th quarter of this year. Two other exploration targets are also present on the Company lands.

Pursuant to the agreement with Warburg Resources Inc., the Company has earned a 45% interest in 6 sections before payout and a 20% interest after payout, subject to a Crown Royalty and a 2% GOR.

The Company is continuing to aggressively pursue other interests in BC and Alberta in the petroleum sector with a focus on production.

On Behalf of the Board of Directors

J. Frank Callaghan, President and CEO

This News Release contains forward-looking statements regarding the timing and content of upcoming programs. Actual results may differ materially from those currently anticipated in such statements.

The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.

Contact Information

  • Northern Hemisphere Development Corp.
    J. Frank Callaghan
    President and CEO
    (604) 669-6463 or Toll Free: 1-800-663-9688
    (604) 669-3041 (FAX)
    www.north-hemisphere.com