Last $0.06 USD
Change Today -0.0017 / -2.92%
Volume 5.0K
HMLA On Other Exchanges
As of 9:30 AM 09/16/14 All times are local (Market data is delayed by at least 15 minutes).

homeland resources ltd (HMLA) Key Developments

Homeland Resources Ltd. Announces Board Changes

Effective July 29, 2014, David St. James and Thomas Campbell were appointed to serve to as directors of the Homeland Resources Ltd., filling the vacancies created by the resignation of Heriberto Levy Lindsay and the earlier reported resignation of Armando Garcia. Mr. St. James was the president and a director of XLR Medical Corporation, from January 2009 to January 2012. Thomas Campbell retired in February 2012 after having served as the general manager of Winroc SPI for five years. He had worked for Winroc SPI in other capacities since 1981.

Armando Garcia Resigns as President, Secretary and a Director of the Homeland Resources Ltd

Effective May 28, 2014, Armando Garcia resigned as President, Secretary and a director of the Homeland Resources Ltd.

Homeland Resources Provides Drilling Update from Phase-1 Exploration at Liberty Ridge

Homeland Resources Ltd. provided this update regarding exploration drilling at the Liberty Ridge Oil and Gas Project in Oklahoma. Over the last several months, Homeland and its partners have participated in the drilling of two new exploration wells at the Liberty Ridge Oil and Gas Project. The two new Liberty Ridge wells, the 4th and 5th of the eight (8) well Phase-1 drilling program, were both intended to target multiple potential hydrocarbon pay zones thought to be productive in the area. Following an extended period of drilling, evaluation, and completion, as of March 31, 2014 the Liberty Ridge #4 well was producing approximately 25 barrels of oil and 23 barrels of water per day from the Viola zone. Thru February 28, 2014, after approximately 9 weeks of production, the Liberty Ridge #4 well had generated revenue in excess of $647,000 net of taxes. The initial revenue generated has allowed the well to be 63% paid out. The Liberty Ridge project operator has indicated that the Liberty Ridge #4 location could potentially support 1-2 additional development wells. The company anticipates that at least one of the additional development wells will be drilled in 2014.

Homeland Resources Ltd. announced delayed 10-Q filing

On 12/16/2013, Homeland Resources Ltd. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.

Homeland Resources Ltd. Announces Liberty Ridge Oil and Gas Project Update

Homeland Resources Ltd. announced that it received notice from the Liberty Ridge Oil and Gas Project operator that drilling of the second well of the Phase-1 exploration program has been completed. Subsequently, it was determined that the well is non-commercial. As a result, the second well will be plugged and abandoned. Homeland and its partners anticipate that drilling of the remaining six prospects of Phase-1 at the Liberty Ridge Oil and Gas Project will continue following rig and crew mobilization to the next prospect location. Confirmation of a spud date for the third well in the program is expected within 2-3 weeks. The Liberty Ridge Oil and Gas Project is a multi-well multi-phase exploration drill program currently being conducted by Homeland and it partners. The exploration and development objectives at the Liberty Ridge Project aim to target potential new discovery oil and gas fields in second Wilcox sand, first Wilcox sand, Trenton dolomite, Simpson dolomite, Viola limestone, Hunton limestone, Bartlesville sand and Redfork sand formations, each of which are known to have been productive in the region. The current Phase-1 drilling program at Liberty Ridge consists of eight wells selected from at least 34 distinct high-graded prospects generated by the partnership's proprietary 3D seismic database covering the entire 83,043 acres (130 square miles) project area. Drilling at the Liberty Ridge project is expected to continue throughout 2013-2014.


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