-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, C4u4DJQLNVpdkV7wz7mW4YCETVe2sS65KNL4WS576nHEqOsjVYMSQQJ9GRVbl1XM Lfe18qwI7W4WA46sAJlypw== 0001144204-06-010856.txt : 20060321 0001144204-06-010856.hdr.sgml : 20060321 20060321061200 ACCESSION NUMBER: 0001144204-06-010856 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060316 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060321 DATE AS OF CHANGE: 20060321 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HEARTLAND OIL & GAS CORP CENTRAL INDEX KEY: 0001075636 STANDARD INDUSTRIAL CLASSIFICATION: BITUMINOUS COAL & LIGNITE SURFACE MINING [1221] IRS NUMBER: 911918326 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-32669 FILM NUMBER: 06699942 BUSINESS ADDRESS: STREET 1: SUITE 1500 STREET 2: 885 WEST GEORGIA STREET CITY: VANCOUVER STATE: A1 ZIP: V6C 3E8 BUSINESS PHONE: 604.693.0177 MAIL ADDRESS: STREET 1: SUITE 1500 STREET 2: 885 WEST GEORGIA STREET CITY: VANCOUVER STATE: A1 ZIP: V6C 3E8 FORMER COMPANY: FORMER CONFORMED NAME: HEARTLAND OIL & GAS LTD DATE OF NAME CHANGE: 20030226 FORMER COMPANY: FORMER CONFORMED NAME: ADRIATIC HOLDINGS LTD DATE OF NAME CHANGE: 19981221 8-K 1 v038236_8k.htm
United States Securities And Exchange Commission
Washington, D.C. 20549

Form 8-K
Current Report

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

March 16, 2006

Heartland Oil and Gas Corporation

Incorporated in Nevada

Commission File Number 000-32669         IRS ID No. 91-1918326

1625 Broadway, Suite 1480
Denver, Colorado 80202
Telephone: (303) 405-8450

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))



Item 8.01 Other Events.

On March 16, 2006, Heartland Oil and Gas Corp. announced that it has received a reserve report dated December 31, 2005 on its Bourbon Arch project area and provided an operations update.

Item 9.01 Financial Statements and Exhibits.

Exhibit  
No.      Description

10.1     News Release dated March 16, 2006.



Signature:
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned authorized officer
 
Heartland Oil and Gas Corporation

March 20, 2006

/s/ Philip S. Winner

Philip S. Winner
Chief Executive Officer


EX-10.1 2 v038236_ex10-1.htm
Exhibit 10.1

Press Release
For immediate release

HEARTLAND OIL AND GAS ANNOUNCES RESERVE REPORT FOR 12/31/05,
PROVIDES OPERATIONS UPDATE

Denver, CO March 16, 2006 PR Newswire Heartland Oil and Gas Corp. (HOGC.OB) today announced it has received an estimate of its proved oil and gas reserves of its Lancaster field located within its Bourbon Arch project area. The report was prepared by Sproule Associates Inc., Heartland’s independent reservoir engineering auditing firm, and was prepared in accordance with U.S. Securities and Exchange Commission regulations. The report, received and dated March 15, 2006, provides an estimate of proved reserve volumes, income, and cash flow attributable to leasehold interests of Heartland in the Lancaster field in Miami County, Kansas, as of December 31, 2005. This is the first audited reserve report for Heartland.

The results of this study/report are summarized below:
 
 
Proved
 
Developed
 
Total
 
Producing
Non producing
Undeveloped
Proved
Net remaining reserves
       
Oil (stock tank barrels)
0
0
0
0
Gas (mcf)
284,700
0
762,200
1,046,900
         
Income
       
Future net cash flows
$983,400
$0
$1,269,900
$2,253,300
Future net cash flow discounted at 10%
$838,400
$0
$477,700
$1,316,100

Note: All prices and costs are held flat, with a wellhead gas price of $7.71 per thousand cubic feet of gas.

Lancaster’s proved developed reserves are being produced into the Enbridge pipeline through Heartland’s recently completed pipelines and associated processing facilities. Gas sales have been steady and continuous since Lancaster’s initial sales date of February 17, 2006.

Operations Update
Net of fuel gas, the Lancaster battery is currently producing 320 thousand cubic feet of gas per day (“Mcfgpd”) into Heartland’s gas processing plant. In addition, Heartland continues to test approximately 195 Mcfgpd from three other multi-well batteries. The batteries, including Lancaster, span twelve miles of the Bourbon Arch.


 
Phil Winner, CEO, said, “We are pleased to have established reserves, production, and cash flow from our shallow Lancaster reservoirs, and are satisfied that these estimates provided a reasonable initial assessment of our proved reserves. We believe any current reservoir engineering reserve estimates in this area still have some uncertainties, however, due to the complex reservoirs, variable completion techniques between Evergreen and Heartland, large geographic extent, and limited production histories on the Bourbon Arch.”

“Elsewhere in the project area, we have conducted production tests on the three wells drilled and completed by Heartland. Production testing has been continuous over nearly eight months. These wells came on with initial rates of ranging from 40 to 80 Mcfgpd, and are now venting gas at rates ranging from 35 to 70 Mcfgpd. We intend to put these three wells, along with five wells originally drilled and completed by Evergreen Resources, into production if we are able to complete our previously announced financing goals.”

About Heartland Oil and Gas Corporation
Heartland Oil and Gas Corporation is engaged in the exploration, development, and acquisition of oil and natural gas. Heartland retains oil and gas leases on nearly one million acres in eastern Kansas. Heartland’s current focus is on producing operations from its shallow gas development project on the Bourbon Arch.

Safe harbor under the “Private Securities Litigation Reform Act of 1995”
Any statements in this news release that are not historical facts are forward-looking statements that involve risks and uncertainties. Words such as “will,” ”intend,” “preparing,” “appraise,” “continue,” “target,” “expect,” and others indicate forward-looking statements and important factors which could affect actual results are discussed in our Form 10-KSB filed with the Securities and Exchange Commission, under the heading “Risk Factors."

For further information contact:

Investor Relations at Heartland Oil and Gas Corporation
1-866-693-5500
info@heartlandoilandgas.com (HOGC)

Source: Heartland Oil and Gas Corporation


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