Hillcrest Petroleum Ltd., is a publicly traded independent oil and gas production company headquartered in Vancouver, British Columbia, Canada.
Hillcrest Petroleum Ltd. plans to deliver value growth for its shareholders by acquiring and operating North American conventional oil and gas assets, focusing primarily on Canada’s Western Sedimentary Basin. Targeted acquisitions must demonstrate substantial development upside with the potential to deliver multiples of the acquisition price within 2 to 4 years. The current state of the Canadian oil and gas industry, after a period of sustained low oil prices, presents numerous undervalued properties for potential acquisition and development in a low cost service environment.
Hillcrest announced a Joint Venture Agreement with a private Canadian oil and gas company on 10 May, 2017 whereby Hillcrest will earn an initial 75% Working Interest to operate and re-establish 150 to 250 barrels of oil per day production from petroleum assets located in Western Canada. Production operations are planned to commence in 2018.
On 29 May 2018, Hillcrest signed binding agreements creating a Strategic Alliance with a private company to pursue oil and gas acquisitions in Western Canada. Under the Strategic Alliance, Hillcrest will grant the Partner an exclusive right of first refusal on pre-screened acquisition opportunities to be operated and managed by Hillcrest and will be assigned a 25% carried interest in any acquired assets in exchange for access to its acquisition opportunity register and oil and gas business management services. The Partner will fund 100% of acquisition and development costs.
In January 2018, operations commenced to restore production from two shut in oil wells in Saskatchewan under and agreement with Westcore Energy Ltd. Under the agreement, Hillcrest earns a 50% working interest the wells by providing financial and technical support to the approved workover program.
Hillcrest announced an agreement with a private Canadian Oil and Gas company on May 10, 2017, to restore oil production from currently shut in oil fields in Alberta and Saskatchewan. Under the agreement, Hillcrest earns an initial 75% Working Interest reducing to 50% after cost recovery and will operate the two oil producing properties. Planning is underway to restore production from the Saskatchewan property, with production operations expected to commence during 2018.
Executive Chairman, Technical Director
Mr. Michael Krzus brings 35 years of oil and gas industry experience, including senior executive management positions and directorships, which includes managing technical and business aspects of conventional and unconventional oil and gas assets, both onshore and offshore, and integrated liquified natural gas (LNG) projects in Australia, the United States, the Netherlands and Canada, including roles as CEO and Director of operating oil and gas companies.
Mr. Krzus was a director and the founding CEO of Emerald Oil Inc., a New York Stock Exchange listed; operating oil company focused on the Williston Basin, Bakken shale oil play in the USA and was CEO and Managing Director of Emerald Oil and Gas NL, an oil and gas company listed on the Australian Stock Exchange. Prior to this, Mr. Krzus held various managerial and executive positions during 22-year career with Woodside Petroleum Ltd. and Shell in Australia and the Netherlands, which he joined 3 years after he began working as a petroleum engineer with Home Oil Ltd in Canada.
Mr. Krzus holds a Diploma in Oil and Gas Technology from the British Columbia Institute of Technology and a BSc. in Petroleum Engineering from Tulsa University.
CEO and Director
Mr. Donald Currie has been the Chairman and CEO of the Company since February 10, 2010, and a director since July 10, 2010.
Mr. Currie has over 25 years of experience in the oil and gas industry with a focus primarily in the southern United States. From 1994 to late 2014, Mr. Currie held various positions with Enhanced Oil Resources Inc., an oil and gas exploration and production company, including director, officer and VP corporate communications. Mr. Currie has also held various roles in other public ventures involved in the mining industry in South America.
Mr. Dale Miller has 35 years experience in the Canadian upstream oil and gas industry focused on managing production operations, growing production and building value through effectively executed field development programs, acquisitions and & divestments in both public and privately held companies.
Mr. Miller has held a wide range of production operations, engineering and senior management positions with various independent oil and gas companies including Gibraltar Exploration Ltd, Pace Oil and Gas Ltd, Midnight Oil Exploration Ltd, 10 years with Penn West Petroleum and then most recently serving from 2011 to 2017 as President and Chief Operating Officer for Long Run Exploration Ltd.
Mr Miller holds a BSc Petroleum Engineering from Tulsa University.
VP New Business
Mr. Oden graduated from the University of Alberta in Edmonton, Canada with a B.Sc. (Geophysics) and has over 30 years of experience in domestic and international oil and gas exploration and development.
Mr. Oden started his career as an Exploration Geophysicist with Suncor Inc. in Calgary, working primarily in the Western Canada Sedimentary Basin. He joined BHP Petroleum (later BHP Billiton Petroleum) in 1991and progressed through a number of technical and managerial roles, primarily managing exploration and appraisal projects within offshore basins in Australia, the Gulf of Mexico and West Africa. In 2005 he joined Gulfsands Petroleum Plc, and was most recently Vice President-Exploration with exploration and development projects in North Africa, the Middle East and the Gulf of Mexico.
Chief Financial Officer
Mr. Sean McGrath is a Chartered Professional Accountant (CPA, CGA) in Canada and a Certified Public Accountant (Illinois) in the United States of America. He has spent the last eighteen years providing financial management and consulting services to publicly traded companies, with primary emphasis in the resource and petroleum industries.
Mr. McGrath is currently the Chief Financial Officer and a Director of Abenteuer Resources Corp., a TSX-V listed oil producer in Canada. He previously served as General Manager of Finance for Minera IRL Limited, a South American gold producer listed on the TSX, BVL and AIM stock exchanges.Prior to this, Mr. McGrath served as the Chief Financial Officer of Columbus Gold Corp. from its initial public offering in 2006 until 2011.
Corporate Head Office
3050 Post Oak Blvd, Suite 825
United States 77056
Tel: +1 713 626 9564
Fax: +1 713 626 0888
Suite 1410 - 1030 West Georgia Street
Canada V6E 2Y2
Tel: +1 604 609 0006
North American Toll-Free: +1 855 609 0006
Don Currie, Chairman & CEO
Tel: +1 604 609 0006
Corporate Head Office
1030 West Georgia St.
Canada V6E 2Y3
1500 Royal Centre
1055 West Georgia Street
Canada V6E 4N7
Price Waterhouse Coopers
Suite 700, 250 Howe St
Canada V6C 3S7
TSX:V - HRH.V OTCQB: HLRTF
510 Burrard Street
Canada V6C 3A8