Further Farm-in Agreement in East Denver Oil & Gas Project

Highlands announces that through a wholly owned subsidiary it has executed a farm-in agreement (‘Agreement’) to increase the size of Highland’s existing East Denver oil and gas project in Arapahoe County, Colorado. The new farm-in enables drilling on three additional sections (each section being a 640-acre parcel) directly offsetting the original three sections that Highlands farmed into from Renegade Oil and Gas Company, LLC in July 2016. The new acreage to which Highlands has farmed in is currently owned by a US incorporated and NYSE traded oil and gas company (the ‘Farmor’). The Farmor has diversified and integrated operations in over 20 countries and has a market capitalisation in excess of $50 billion.