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Stonehorse Energy Limited (ASX:SHE)

ALERT: Price-sensitive ASX Announcement for SHE
Current share price for SHE : $0.011 0 (0%)+
Announcement
Release
3 Jun 2026 11:59AM
Price at Release
$0.011
Full Release
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Summary
Stonehorse Energy Limited has announced its participation in a second phase of development in the Drumheller area, involving four new wells. The move follows a successful phase one program and aligns with the company's strategy to strengthen its oil and liquids portfolio. Stonehorse will invest approximately C$8 million in this development. Additionally, the company has divested a portion of its interest in another property to fund corporate activities. The decision reinforces Stonehorse's commitment to high-impact, quick-payback opportunities in Western Canada.
Key Points
  • Participation in four new Drumheller wells.
  • Successful completion of phase one Drumheller wells.
  • Investment of approximately C$8 million for new wells.
  • Divestment of 26.25% interest for C$3.05 million.
  • Focus on oil and high liquids production strategy.
  • Partnership with existing strong operator for new wells.
  • Targeting the Ellerslie Reservoir with high liquids ratio.
  • Ongoing commitment to quick payback opportunities.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.