1st NRG Corp (FNRC)

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1.5m cap VS Emerging entrants in the Utica play: 1st NRG signed a letter of intent with a private third party to initiate development of about 7,150 acres in eastern Ohio. Statoil purchased 70,000 Utica shale acres in Ohio and W.V. for $590 million. With a recent hostage situation in Africa, it will likely turn its focus to the U.S. Halcon Resources bought 50% of Carrizo’s Utica stake including 19,000 acres across Trumbull and two Pa. counties for $43 million.

FNRC has about 10% so about 60m dollar worth before the big possibility to find some oil and gas