VANCOUVER, B.C. February 3rd, 2014 – Hillcrest Resources Ltd. (the “Company” or Hillcrest”) (TSX.V : HRH) is pleased to announce the drilling rig contracted with Progress Drilling arrived on site, rigged up and has commenced drilling the previously announced Donner #4 well. As previously announced, Hillcrest Resources Ltd had submitted applications and received approval for two development well locations located within their Newton County leases in Texas. The Company selected these locations based upon review of seismic and well data as well as the production performance of the Company’s two producing wells in the area. Hillcrest has a 60% working interest in the next 2 Donner wells.
Don Currie, CEO and Chairman, states “We are pleased about the drilling on our Donner #4 well starting which will followed with the spud and drilling of the previously permitted Donner #3 well. The drilling and potential completion of the next 2 wells is expected to take approximately 4-6 weeks. We are excited about the potential impact any additional oil and gas production from the Donner #4 and #3 wells could have on Hillcrest Resources Ltd.
The Company has identified at least 5 potential drilling locations in our Newton County leases with potential production capabilities. Our debt facility as well as the receipt of funds from the sale of 50% of our Montana assets has provided Hillcrest with the funds to methodically exploit our acreage as previously described.”
For more information on Hillcrest Resources Ltd, contact Donald Currie toll free at 1-866-609-0006 or visit the Company’s website at www.hillcrestresources.com
On Behalf of the Board of Directors
Chairman, Chief Executive Officer and Director
FORWARD LOOKING STATEMENT HERE
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