Highwood Asset Management Ltd., (锟紿ighwood锟� or the 锟紺ompany锟�) (TSXV: HAM) is pleased to announce an operational update regarding its Wilson Creek operations. As previously announced, Highwood drilled 2 gross (~1.8 net) booked locations in the fourth quarter of 2025. The 102/13-02-043-06W5 (the 锟�13-02 well锟�) and the 100/11-33-042-05W5 (the 锟�11-33 well锟�) were completed and brought onstream late in the fourth quarter of 2025. The wells achieved a cycle time of approximately 50 days with associated capital costs being around 10% below budget.
Over the first three weeks of production, the 13-02 and 11-33 combined, averaged 1,700 bbls/d light oil and 2,400 boe/d (85% liquids) including associated gas and natural gas liquids (1,450 bbls/d and 1,950 boe/d net). Over the past ten days production from the 13-02 well has averaged gross production of 900 bbls/d light oil (698 bbls/d net) and 1,500 boe/d including associated gas and natural gas liquids (1,163 boe/d net). In that same time frame, the 11-33 well has averaged gross production of 900 bbls/d light oil (900 bbls/d net) and 1,110 boe/d including associated gas and natural gas liquids (1,110 boe/d net). In aggregate the company expects the wells to pay out in less than 3 months yielding projected recycle ratios of greater than 3.5 at current strip pricing.(1)(2)
Highwood continues to be encouraged by the results from the Basal Belly River play in its portfolio and the recent successes reinforce the Company锟絪 confidence in our inventory. The Company currently carries 16.5 net booked and 13 net unbooked locations in Wilson Creek.
Corporately, Highwood锟絪 current total company production is greater than 6,300 boe/d. Depending on market conditions, the Company plans to drill 1-3 additional wells in the first quarter of 2026 in the Basal Belly River Horizon.