Fidelity SPDR Advertisement
Home > Boards > Free Zone > Penny Trading - Technical > BB's Stock Haven

~<u>FOGC</u> .0002 Cressent to Purchase Wells With $1.2Million.Annual.Production.Capacity

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
muga Member Profile
Member Level 
Followed By 1,124
Posts 113,633
Boards Moderated 15
Alias Born 08/28/09
160x600 placeholder
S&P 500, Dow Close At Record Levels
The U.S. stock market rallied on Friday, sending the S&P 500 and Dow Jones Industrial Average into record territory, after a surprise stimulus plan from the Bank of Japan was announced.
Top Equities Stories Of The Day
Omega Healthcare to Buy Aviv REIT
Sony Posts Hefty Loss
Starbucks Sales Growth Disappoints; Delivery Is Coming -- 3rdUpdate
Two Picks to Dig Into Pipelines, Shale Energy -- Barron's
U.S. Stocks, Bonds Dip on Fed Outlook
Twitter Demotes Product Chief Daniel Graf
Byron Wien: Slow Growth Good for Stock Market -- Barron's
Jefferies Expected to Book up to $15 Million Loss on Toms Shoes Debt, Sources Say -- Update
muga Member Level  Monday, 04/30/12 10:50:32 PM
Re: sirrob21 post# 2653372
Post # of 3523522 
~FOGC .0002 Cressent to Purchase Wells With $1.2Million.Annual.Production.Capacity

Quote:
HENDERSON, NEVADA--(Marketwire ) - Fortune Oil and Gas' (PINK SHEETS:FOGC)
( http://www.fortuneoilandgascorp.com ) subsidiary Cressent Energy
( http://www.cressentenergy.com ) informs its followers that the evaluation of the North
Texas wells has been finalized with positive results.

The company sought out the opinion of a petrochemical engineer to confirm the wells' abilities to
produce revenue on an ongoing basis and well into the future. This process has now been finalized
and Cressent management is currently negotiating with the owners to purchase this property.

The purchase consists of 2 wells able to produce approximately 40 barrels of oil daily. Cressent
management estimates the monthly revenues from these wells to reach about $100,000 a month,
which would translate into $1.2 million annually.


The purchase negotiations are currently underway. This purchase continues the Cressent
management's plan for organic growth without outside investment or debt.


The opportunity to purchase these wells came from Cressent Energy's cooperation with the U.S.A.-
based broker for buyers and sellers of income-producing oil properties. Similar to working with a
real estate broker, this unnamed company works to help people find a property that will make them
money. Cressent plans to continue its cooperation and is looking to acquire some 40 leases with
over 100 wells present on these properties.







My opinions and comments are just that. They are not a recommendation to either buy or sell any security.
Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist