11:39 AM EST - Hemisphere Energy Corporation : Announced its financial results for the three months ended March 31, 2016. The company achieved quarterly production averaging 508 boe/d (81% oil). It also realized a $2.73/boe operating netback with a challenging commodity price environment and an average WTI price of $33.45 ($US/bbl), reduced operating costs to $11.45/boe, a 15% decrease from the fourth quarter of 2015, due to the voluntary shut-in of higher cost wells and the implementation of strict cost control measures. The company also significantly reduced general and administration costs to $5.42/boe, a decrease of 34% from the fourth quarter of 2015. Hemisphere Energy Corporation
shares V.HME are trading unchanged at $0.20.
