Highlands Natural Resources PLC (LON:HNR)

Highlands Natural Resources PLC (LON:HNR)

Share Price
8.95 p
0.1 (1.13 %)
Market Cap
£12.75 m
Proactive Investors - Run By Investors For Investors

Highlands Natural Resources PLC

Highlands is a diversified resources company whose principal assets are 8 producing wells east of Denver, Colorado and a vertically integrated premium CBD business.

Market: LSE:HNR
52-week High/Low: 25.05p / 8.25p
Sector: Energy
Market Cap: £12.75 m
Website: www.highlandsnr.com
col 3
col 4
col 5
col 6

Big Picture – A Deep Dive Examination of Highlands Natural Resources PLC

Highlands Natural Resources PLC Snapshot


Highlands Natural Resources’ strategy is to develop a portfolio of projects whereby approximately 80% of projects generate secure and sustainable revenue while the other projects demonstrate the potential for exciting capital appreciation. This strategic objective is well advanced and we are generating revenue.

In terms of our individual areas of operation, our strategic objectives are as follows:


  • Zoetic Organics, the wholly-owned subsidiary of Highlands, aims to distinguish itself as a leading premium and organic producer of CBD products in the United States and internationally.
  • Colorado shale – spearheaded by our East Denver Project, we expect revenues to be more than sufficient to cover overheads for 2019 with 8 wells currently producing. We continue to examine opportunities to expand the project area as well as evaluating new development opportunities for our portfolio.
  • Highlands Water Resources – our innovative plan to address water shortages on fracking sites is already delivering revenue. A core objective for 2019 is to seek to expand these operations and therefore secure a stable services-based revenue for the Company.
  • Kansas nitrogen discovery – this may represent the most exciting development for Highlands in 2019. We have delivered our first commercial sales to organic cannabis growers in Colorado and, based on the level of enquiries and ongoing discussions we have at present, we anticipate further positive developments over the coming months.
  • Enhanced oil recovery – we believe that our re-fracking and well protection technology, DT Ultravert, remains a potentially disruptive influence on the oil & gas industry and we continue to examine profitable applications. Securing a proprietary nitrogen supply will make it far more cost effective. Alongside this, but a longer-term objective, is our carbon dioxide asset.
  • Montana Project – this represents a more speculative opportunity for Highlands. Sustainable gas production marks a critical milestone but further work is required before the resource becomes economic.

Robert B Price
Board: CEO

Robert B. Price is a successful oil and gas executive who has worked on oil & gas projects in North America and Eastern Europe. Mr. Price’s joint venture relationships with oil and gas service companies and exploration companies will establish the Company with a broad range of contacts including: experts; managers; entrepreneurs; and opinion-formers in the natural resources sector. Mr. Price will also liaise with members of the United Kingdom investment banking community, upon whom he can call to achieve the Company’s aims in securing farm-outs from independent and major oil & gas companies to establish holdings of significant acreage on behalf of Highland.

Mr. Price, originally from Colorado, immersed himself in Oklahoma’s dynamic energy sector after receiving his Juris Doctorate Degree from the University of Tulsa. Immediately after law school he was named Vice President, Trust Officer and Oil and Gas Trust Energy Department Manager of the First National Bank and Trust Company, now JP Morgan Chase Bank. He later formed Brooks Energy Company, which was active in both oil and natural gas exploration and production in the Mid-Continent and Rocky Mountain regions. He also purchased a distributed electric generation business from Tulsa-based Williams Companies, and owned S&R Equipment, a natural gas compressor manufacturing company and rental business. A founder and Chairman of Zeledyne, Mr. Price purchased Ford Motor Company’s Glass division with plants in Tulsa, Nashville and Juarez, Mexico employing more than 1,200 people. Recently, President and Chairman, Mr. Price led Palomar Natural Resources’ (Palomar) rapid growth in developing oil fields in the US Denver-Julesburg Basin and its drilling program in the US San Juan Basin. With over 1,000,000 acres in Poland, Palomar is currently drilling natural gas prospects in the Permian Basin. During his period in office, Mr. Price was instrumental in raising US$50,000,000 on behalf of Palomar. Mr. Price has also served on the advisory board of San Leon Energy plc, based in London, United Kingdom.

J.Melvyn Davies
Board: FD & Company Secretary

Melvyn Davies has over 30 years’ experience advising and assisting both large and small businesses across a wide range of industry sectors. Mr Davies founded his own Chartered Accountancy practice, Melvyn Davies & Co., specialising in audit, primarily of regulated entities, and advice to owner managed businesses.

Mr Davies was Finance Director and Company Secretary of the Silence Therapeutics group (formerly Stanford Rook) from 1996 to 2010. He played a critical role in all aspects of the Group’s acquisitions policy along with day to day operational and financial issues. Mr. Davies was influential in listing the Group on AIM and later on the main board of the London Stock Exchange. During that time he was also instrumental in the group’s expansion into Germany and the USA.

Mr. Davies is a Fellow of the Institute of Chartered Accountants in England and Wales, has an Honours degree in Mathematics and Management Studies.

Domingo Mata
Leadership Team: Vice President of Engineering

Domingo Mata started his career with Schlumberger. He worked on numerous projects worldwide and most unconventional basins in the continental US. He held operational, technical, consulting and business development roles. As Stimulation Domain Manager, Mr. Mata led a multi-disciplinary team integrated by Geologists, Petrophysicists, Geomechanics and Reservoir Engineers. His team impacted $75-400 million in operations per year. The unit focused on maximizing well productivity and delineating asset development strategies. His experience encompasses 200+ completion procedures (for both oil/gas, vertical/horizontal wells) for 30+ operators across different basins. He completed 6+ field development plans to determine optimum number of wells per drilling unit. In some cases, results increased reserves up to 15 % and reduced completion costs up to $300k per well. He has peer reviewed 30+ domestic and international projects, designed and taught 20+ workshops and courses for engineering staff, and mentored 30+ engineers. Besides technical competence, Mr. Mata has a strong operations background, his field assignment can be summarized in no less than 300 fractured wells, 5,000 completed stages and 1 billion pounds of sand safely placed across the continental US. Mr. Mata has a strong commitment with the Oil and Gas industry, participating in several Production Symposiums, publishing dozens of papers, reviewing publications for Oil and Gas Journals and authoring a book chapter on completion optimization for Unconventional Resources (Chapter 8 – Hydraulic Fracturing treatment Optimization, and Production Modeling. Unconventional Oil and Gas Resources Handbook. Y. Zee Ma and Stephen Holditch. 2015). He holds a B.S. in Mechanical Engineering from Universidad Metropolitana (Caracas, Venezuela) and a M.S. in Petroleum and Natural Gas Engineering from West Virginia University.

Stephen Miller
Leadership Team: Vice President of Operations

Stephen Miller has over 9 years of experience in the oil and gas industry, specializing in hydraulic fracturing, completions techniques, and production and treatment analysis. Prior to joining Highlands, Mr. Miller worked for 5 years for Integrated Petroleum Technologies (IPT), an industry recognized independent consulting firm focusing on hydraulic fracturing, completions, and stimulation design. Before joining IPT, Mr. Miller was a Technical Professional at Halliburton Energy Services where he was involved in hydraulic fracturing in West Texas. Mr. Miller has designed and treated fracture stimulation treatments in almost every major basin across the United States and Canada, as such, he brings a broad and unique combination of experiences to Highlands Natural Resources. Mr. Miller is also a co-inventor on several of Highlands Natural Resource’s pending patents and holds a BS in Petroleum Engineering from Texas A&M

Eric Anderson
Leadership Team: Vice President of Land

A third generation Landman, Eric continues the legacy of his father and his grandfather who began his career in the Williston Basin in the 1950’s. For several years, Eric worked in the field as an independent Landman, negotiating oil & gas contracts in many of the ground breaking exploration and development plays in the Rocky Mountain Region. In 2011 he became a member of the Executive Management Team for a major oil & gas land company to lead new business development, foster client relationships, and manage the company’s leasing projects and field crews. In 2015 Eric began consulting on land projects with Highlands Natural Resources, and later that year joined the Company as Vice President of Land. At Highlands Eric oversees all matters relating to land including negotiations, contracts, title, leasing and GIS work.

Paul Mendell
Advisory Board

Paul is an oil and gas producer and co-founder of an AIM listed iodine producer, Iofina. Paul owns interests in over one hundred producing oil and gas wells which he has developed or from properties he acquired and were subsequently acquired by larger firms including Andarko, EnCana, Noble, Bill Barrett Corporation and others. This production is in Colorado, North Dakota and Oklahoma. Paul has made three new discoveries which were acquired by large companies including Enron and others. He is a self-educated geologist and is a well-respected developer of new concepts in exploration for oil, gas, iodine and other commodities. Paul works for Mendell Energy; a Denver based independent oil and gas producer.

Whit Childs
Leadership Team: Geologist

Mr. Childs is a petroleum geologist with over 5 years of experience in the oil and gas business. His first experience in the industry began tending wells in Pennsylvania during college. Mr. Childs Graduated from Colorado College with a Bachelor of Science (BS) degree in geology. After school Whit spent three years working for Recovery Energy, a small exploration company studying and working assets throughout the DJ basin. After Recovery, he joined Mendell Energy and helped analyze and evaluate assets for acquisition. Mr. Childs began working with Highlands in the fall of 2015.

Randy Natvig
Advisory Board

Randy Natvig has 24 years’ experience of creating value in the oil and gas business at the forefront of changing innovations; most recently with Laramie Energy. He has expertise in acquisition evaluation and asset development. Mr Natvig has managed multi-rig drilling programs in major Rockies basins and improved Estimated Ultimate Recoveries (EURs) and Internal Rates of Return (IRRs) through optimising completions and infrastructure. He previously spent 14 years with Halliburton managing and designing hydraulic fracturing (fracking) techniques and improving drilling practices.

Mike Mullen
Advisory Board

Mr. Mullen is President and founder Stimulation Petrophysics Consulting, an Independent consultant performing petrophysical evaluations in United States, Australia, United Kingdom, and South America. He spent 25 years at Halliburton developing analytical tools for conventional and unconventional reservoir treatments. He developed software models for Halliburton to evaluate Tide Sands, Shale Oil/Gas and Coalbed Methane. Mr. Mullenled a team of geoscientists to explore for shale gas/oil in France, Germany, Poland, and Spain. He has 38 years of wireline logging and formation evaluation experience and has worked extensively with government officials while CEO at Realm International, now part of San Leon Energy plc.

Ben Reinoehl
Advisory Board

Mr. Reinoehl brings 40 years of experience from Air Products & Chemicals, Inc., where he was responsible for the worldwide helium and hydrogen product lines and the development of new sources of these gasses. Specifically, Mr. Reinoehl negotiated all crude and refined helium supply contracts for Air Products and also developed the first liquid helium supply in Algeria from LNG tail gasses. Mr. Reinoehl is also the Owner and Principal of RMW Solutions, a consulting firm serving industrial gas companies, governments and research users of industrial gasses. Mr. Reinoehloffers to Highlands an extensive knowledge of helium gas markets and contract negotiation as well as an extensive network of helium industry participants.

Significant Shareholders

Name Number of Shares Percentage (%)
Robert B. Price 12,000,000 8.42
C. R. Lynas 4,500,000 3.16


The Company is incorporated and registered in England & Wales with registered number 09309241

UK Registered Office Address: The Walbrook Building, 25 Walbrook, London EC4N 8AF

US Address: 220 Josephine St., Suite 200, Denver, CO 80206

Email: [email protected]

Phone: 001.303.322.1066

For emergencies please call: 001.866.922.1066

Financial Adviser and Broker:

Cenkos Securities plc, 6-8 Tokenhouse Yard, London, EC2R 7AS

Auditor and Reporting Accountants:

Saffery Champness, 71 Queen Victoria Street, London EC4V 4BE

Solicitors to the Company:

DAC Beachcroft LLP, 100 Fetter Lane, London, EC4A 1BN

Financial PR/IR:

St Brides Partners Limited, 3 St Michael’s Alley, London, EC3V 9DS

Columns Including HNR


Market Reports Including HNR

Video RSS



© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use