Hemisphere Energy Provides Operations Update and 2023 Corporate Guidance

Vancouver, British Columbia--(January 24, 2023) - Hemisphere Energy Corporation (TSXV: HME) (OTCQX: HMENF) ("Hemisphere" or the "Company") is pleased to announce an update on its operations and provide corporate guidance for 2023.
Corporate Update
Over the past year Hemisphere has achieved a number of significant corporate milestones, including the elimination of bank debt, initiation of a quarterly dividend, start-up of a tertiary enhanced oil recovery scheme, and new record production levels. These financial and operational accomplishments in 2022 have set the Company on firm footing for continued growth and success in 2023.
Last year, Hemisphere's annual production increased by 55% over that of 2021 to a record 2,825 boe/d (99% Heavy Oil). This was below guidance by 6% due to a number of factors that included unplanned facility outages in August and October, and extreme weather-related production downtime in December. Production was also lost from two producers that were shut-in for injector conversion during the latter half of the year.
Since the start of the new year Hemisphere's production has averaged approximately 3,200 boe/d (99% Heavy Oil, based on field estimates between Jan 1st - Jan 22nd). This number includes one week of production from two new Atlee F pool wells that Hemisphere drilled in December. Initial production from the new wells is encouraging and will continue to be optimized over the coming weeks. During the year it is expected that one of these wells will be converted to an injector for the pool.
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Hemisphere Energy Announces Third Quarter Results and Declares Dividend

Vancouver, British Columbia--(November 17, 2022) - Hemisphere Energy Corporation (TSXV: HME) (OTCQX: HMENF) ("Hemisphere" or the "Company") today reported its financial and operating results for the third quarter ended September 30, 2022, during which the Company recorded almost $24 million in revenue and its third highest ever adjusted funds flow from operations (AFF)1 of $10.6 million. Hemisphere also spent $4.6 million on drilling operations and facility improvements, paid off its bank debt, and distributed $2.6 million of dividends to its shareholders.
Quarterly Dividend
With the Company realizing free funds flow1 of $6 million in the quarter, Hemisphere's board of directors has approved a quarterly dividend of $0.025 per share, to be paid November 30, 2022 to shareholders of record as of the close of business on November 23, 2022. The dividend is designated as an eligible dividend for income tax purposes.
Q3 2022 Highlights
Paid off all bank debt.
Produced an average of 2,870 boe/d (99% heavy oil), a 72% increase over the third quarter of 2021.
Attained quarterly revenue of $23.7 million, a 127% increase over the third quarter of 2021.
Delivered an operating field netback1 of $49.95/boe, 27% higher than in the third quarter of 2021.
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ClearStream announces New Project Awards and Contract Renewals

CALGARY, Alberta, Feb. 24, 2021  -- ClearStream Energy Services Inc. (“ClearStream”) (TSX: CSM) is pleased to announce several new project awards and contract renewals that were booked with major upstream, midstream and downstream energy companies across North America during the period from October 1, 2020 to the date of this press release. These awards and renewals are estimated to generate approximately $150 million in backlog.   Approximately one-third of this amount relates to a new five-year contract to provide turnaround and maintenance services for a major oil sands production company.
The work will be executed by ClearStream’s Flint, ClearWater, Environmental, Universal Weld Overlays and Wear Technologies divisions and will be comprised of Maintenance, Turnarounds, Fabrication, Pipeline and Facility Construction, Electrical and Instrumentation, Corrosion and Abrasion Wear Technologies, and Abandonment and Reclamation services. Most of the work will be executed in 2021 with the balance scheduled for 2022-2025.
“These recent contract awards and renewals continue to demonstrate that we are a trusted service provider for our clients. We expect additional activity to be booked in the next few months as clients engage in early planning activities to secure capacity for the spring and fall turnaround seasons over the next two years. We are proud to offer and serve our clients with a suite of more than 40 services that encompass the full project lifecycle”, said Yves Paletta, Chief Executive Officer.
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Vermilion Energy Inc. Announces $0.23 CDN Cash Dividend for February 18, 2020 Payment Date

CALGARY, Jan. 15, 2020 - Vermilion Energy Inc. ("Vermilion") (TSX, NYSE: VET) is pleased to announce a cash dividend of $0.23 CDN per share payable on February 18, 2020 to all shareholders of record on January 31, 2020. The ex-dividend date for this payment is January 30, 2020. This dividend is an eligible dividend for the purposes of the Income Tax Act (Canada). As previously announced, we are phasing out the Dividend Reinvestment Plan ("DRIP") over the course of 2020. We will be prorating the available DRIP shares by 25% each quarter starting in Q1 2020, until completely eliminated in Q4 2020. For those investors that would like to continue reinvesting the cash portion of their dividends in Vermilion shares, we encourage you to contact your brokerage firm about setting up an automated reinvestment plan to purchase shares on the open market.
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Inter Pipeline Announces January 2020 Cash Dividend

CALGARY, Jan. 9, 2020 - Inter Pipeline Ltd. ("Inter Pipeline") (TSX:IPL) announced today the declaration of a cash dividend of $0.1425 per share for January 2020. This dividend will be paid on or about February 14, 2020 to shareholders of record on January 22, 2020. This dividend is designated as an "eligible dividend" for Canadian tax purposes.
Since inception, Inter Pipeline has distributed approximately $5.8 billion in cash payments to investors. Inter Pipeline's objective is to provide investors with sustainable monthly cash dividends, with dividend growth upside tied to the development of Inter Pipeline's portfolio of growth projects.
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