2010-07-28-2010-07-27-2010-07-27

Acquired 9%-30% working interests in various liquids-rich assets in Trutch property, British Columbia.

Hemisphere Energy Corp., Vancouver, (Toronto Venture: HME) has acquired the gas producing Trutch property in northeastern British Columbia from Vancouver-based Canada Gas Corp. (Toronto Venture: CJC) for C$350,000.

The acquisition includes a range of 9% to 30% working interests in various liquids-rich assets and increases Hemisphere's production and land position in the region, where Hemisphere has an inventory of low-risk development drilling locations. Currently, the company has four producing Halfway liquids-rich gas wells on its Trutch property and 10 producing Edmonton Sand gas wells on its Sylvan Lake property in central Alberta.

Hemisphere has paid C$300,000 in cash and approximately C$50,000 via the issuance of 214,225 Hemisphere shares at a deemed price of C$0.2334 each, as of April 27. The shares are subject to a hold period until Nov. 24.

Hemisphere's management and board view the market conditions as providing an excellent opportunity to aggressively pursue value-added acquisitions and farm-ins. The company is evaluating other opportunities that complement its producing Trutch and Sylvan Lake properties in western Canada.