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SSPTD - .0018 x .0019 - People claiming same screw up as GBOED. No clue... Not even sure if GBOED was a screw up or made to believe it was. Either way it was a heck of a play...
Thanks for the info Rig... Lookig forward to a great 2011 here..
Time & Sales
0.15 10000 OBB 12:11:27
0.177 2000 OBB 12:09:35
0.15 2500 OBB 11:24:12
0.15 7100 OBB 10:06:23
0.15 9806 OBB 10:06:22
0.15 395 OBB 09:34:49
0.15 17283 OBB 12/03
0.155 7500 OBB 12/03
0.155 17000 OBB 12/03
0.17 4000 OBB 12/03
0.15 22000 OBB 12/03
0.175 3500 OBB 12/03
0.15 527 OBB 12/03
0.177 10000 OBB 12/03
0.15 62796 OBB 12/03
0.15 10000 OBB 12/03
0.14 5530 OBB 12/02
0.12 27752 OBB 12/02
0.12 106 OBB 12/02
0.14 790 OBB 12/02
0.15 2500 OBB 12/01
0.15 330 OBB 12/01
0.15 4670 OBB 12/01
0.15 20000 OBB 12/01
0.16 2236 OBB 12/01
0.14 5267 OBB 12/01
0.14 497 OBB 12/01
0.14 10000 OBB 12/01
0.14 2144 OBB 12/01
0.14 3265 OBB 12/01
Incredible share structure ;)
GBOED - Watched this one today. Reminds me of another stock that did the same thing 5-7 yrs ago. I believe Buckey made a fortune on it. Just can't recall the stock symbol.
GaryS Share Monday, December 06, 2010 9:16:45 PM
Re: None Post # of 167849
GBOED...moass....tom favata Member Profile tom favata Share Monday, December 06, 2010 6:28:55 PM
Re: None Post # of 10462
THIS IS WHAT HAPPENED TODAY. The reason why I havent posted on this board is because I have signed a NDA with the company and cannot divulge any info on the inner workings of GBOE. That being said I can tell you what happened today because it has nothing to do with the company. Today scottrade converted the GBOE shares into GBOED and in doing so the did the opposite and multiplied 5500 instead of dividing by 5500. Thats why our accounts show hundreds of millions of dollars and billions of shares. Some people early on sold some of these said shares creating a surplus of shares many times more that the whole os which is 2.3 million. Thats when the pps tanked and our accounts showed many more shares than we had. When this was happening many other mms bought these said shares and some flipped these more than once to create this massive volume. For those who do not have scottrade these shares that were purchased today are valid transactions and you do own these shares. Scottrade would have shorted them to you. They will have to cover this massive short position right away to try to rectify this mistake. They are now short many times the entire os. This will set up for one of the largest short squeezes in pink history. Do not sell early because this will move much higher IMO.
On November 24, 2010 CNYC effected a reverse stock split in order for its capital structure to conform to the capital structure requirements of the TSX Venture Exchange.
Current Share Structure
As a result of the Reverse Split, the Company's trading symbol changed from "CNYC" to "CNYCD". The "D" will be removed from the Company's trading symbol 20 business days from(Nov 24)the effective date of the Reverse Split.
Authorized = 131,666,666
Outstanding = 61,928,343
Held by Insiders = 46,128,343 approx.
Float = 15,800,000 approx.
Bought SNEY this morning - Talk to you tomorrow.
NSCT - Did you have some of this in your $hit pile?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=57414697&txt2find=NSCT
I agree... eom
Good morning... Been watching SNEY this morning..
FormCap Corp. Plans to Commence Concise Seismic Program
Data on Hand Suggests Fields of Weber City Prospect Analogous to Producing Anton Irish Field
Dec 6, 2010 9:30:00 AM
RENO, NV -- (MARKET WIRE) -- 12/06/10 -- FormCap Corp. (PINKSHEETS: FRMC), an emerging oil & gas exploration company that is primarily focused on the development of its oil & gas properties in the continental United States, is pleased to announce that it plans to commence a concise seismic program to confirm the similarities of the Weber City Prospect to its analogous oil field -- the 230 million barrel recoverable oil Anton Irish Field. To date, the Company has assembled 5,800 gross acres of oil and gas mineral leases within the Permian Basin at its Weber City Prospect, where it holds a 100% working interest (80% net revenue interest.) For more information on the Weber City Prospect, please see: www.formcapcorp.com
The four potentially productive hydrocarbon zones that comprise the Weber City Prospect include the San Andres, Clearfork, Wolfcamp and the Cisco Formation. Although each of these four zones represents a viable drill target, Management's primary target is the Cisco Formation of Pennsylvanian Age, a structure that hosts giant oil traps that have produced over a billion barrels of oil in the Permian Basin. The fields that lie within the Weber City Prospect host a similar type of oil trap.
Detailed mapping, Landsat imagery, seismic analysis and log evaluation outlines a major, combination stratigraphic, structural trap on the Weber City Prospect, as is the case of the "Anton Irish" field. In light of successful exploration programs conducted by others in the immediate area, which are situated in a similar geological setting, Management believes that, in a successful case, there is potential to drill up to 100 wells that could produce over 300 million barrels of oil on the Company's Weber City Prospect.
Proposed Seismic Survey
The Weber City Prospect is a well-defined basin margin compression structure located in the Permian Basin of south-eastern New Mexico. Geological studies of wells drilled in the immediate area demonstrate the existence of a subsurface structure, and the presence of hydrocarbons. The sparse well control, however, does not allow the precise location of the bounding faults and the thickness, quality of the target oil and gas reservoirs (San Andres, Clear Fork, Wolfcamp, and Pennsylvanian). A concise seismic program has been proposed to confirm the similarities of the Prospect to its analogous oil field -- the 230 million barrel recoverable oil Anton Irish Field.
Mr. Terry R. Fields, President and CEO stated, "The proposed seismic program will tie in the key wells, allowing projections of structure and reservoir quality onto the Prospect. Interpretation of the seismic will confirm the previous Geological Studies, allowing us to further determine the aerial and vertical size of the Weber City structure. In addition, the size and quality of the prospective oil reservoirs will be further delineated through modeling of the data. In summary, the proposed seismic program will allow us to be more effective in selecting the optimum drill site location of our first well for the highest success rate. In addition, this strategy will allow us to prepare appropriate drilling parameters so that the drilling iscompleted in a cost effective, timely matter."
FormCap's management team is led by President and CEO Terry R. Fields and a diverse and experienced team of consultants and advisors. FormCap has engaged, Mr. Thomas Markham, the prospect generator as Senior Consulting Geologist; and Nueva Energy Inc. headed by Norman Mackenzie as Operator. The Company plans to acquire existing production that holds additional development potential. FormCap is currently investigating several prospects that meet this profile and will report such acquisitions when appropriate.
About FormCap Corp.
FormCap Corp., a reporting issuer that is listed on the Pink Sheets under the symbol: FRMC.PK, is an emerging exploration and development company in the oil & gas sector. FormCap's mandate is to seek out highly prospective oil and gas properties for acquisition, exploration and development. FormCap's primary focus is the discovery and development of oil and gas in the continental United States. To date, the Company has assembled 5,800 gross acres of oil and gas mineral leases at its Weber City Prospect, located in Curry County, New Mexico. The Weber City Prospect has been defined by detailed geological information; well log data, seismic, Landsat and independent third party geological interpretation. There is potential to drill up to 100 wells estimated to produce over 300 million barrels of oil in a successful case.
Safe Harbour Statement
Under the Private Securities Litigation Reform Act of 1995. This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act''), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may,'' "would,'' "will,'' "expect,'' "estimate,'' "anticipate,'' "believe,'' "intend,'' and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
FormCap Contact, Investor Relations:
Mr. Larry Davis
1 250 595 7714
info@formcapcorp.com
Source: FormCap, Inc
SSHS - .0001 x .0002 - Has 2 recent PR's. May work out as a lotto play.... Try for the .0001's if you do go for it...
Pickalertnewsletter - FWIW
Remember Thursday and Friday? FRMC exploded last week, and if you were watching from the opening bell, you got to witness it thoroughly destroy its previous levels of resistance, and enter entirely new territory with gigantic trading volume and periodic runs that combined to double the PPS and generate incredible profits for our subscribers who followed our calls from the moment they received them! There was a period of lagging PPS, where it appeared there were some old positions being cleared out, but in the end it allowed the price to recover nicely and we should see some positive reaction today!
If You Think Last Week Was Nice, You Should See What We Have Planned For FRMC Today!
Formcap Corp (FRMC) is an emerging oil and gas exploration company that has begun to purchase, lease, and enter joint ventures for mineral producing territory, specifically within the continental United States.
Having devoted the company's time to exploration, acquisition, and preparatory proceedings, FRMC has seen its trading slump to record lows in both volume and share price. However, as you can see from the chart below, FRMC has the solid and realistic potential to trade at near $.50 with some solid activity!
Our Analysts Won't Stop Talking About The Possibility of FRMC Advancing To Its Previous High In The $.50 Range -- Technical Signals Are Stronger Than Ever!
At this point in the game, ANY news with a positive tilt, or any acquisition report of a mineral territory that is currently producing or audited well, and the price of this company is very likely to skyrocket!
To give you an idea of the type of opportunity we are looking at with FRMC, take a look at some recent commentary on a professional oil and gas trading board:
The company owns 4,900 acres in the Weber City Prospect in the Permian Basin, an area well known for its hydrocarbon production. The Permian Basin has produced over 35 billion barrels of oil and 100 trillion cubic feet of gas. It is host to over 20 percent of all domestic oil and gas produced in the US.
The ’smart’ money is investing into Permian Basin assets. For example, ExxonMobil (NYSE: XOM) is buying XTO Energy for $31 billion--the largest US energy takeover since Conoco-Phillips acquired Burlington Resources. The takeover occurred in large part due to XTO Energy’s large land position in the Permian Basin. Exxon was not alone in its interest in the Permian Basin. Other large energy companies acquiring assets in the Permian Basin include Occidental Petroleum and SandRidge Energy.
This takeover indicated a real shift in Exxon’s strategy and validated the independent exploration and production business model of smaller companies, like FormCap, which focus on the development of the Permian Basin areas of western Texas and eastern New Mexico as a key source of energy. The latest drill logs show that interest in the region is on the rise and that the Permian Basin is a hotbed of activity. Recent permit applications show that many other energy companies like Anadarko, Apache, Devon, Chevron and Kinder Morgan are becoming involved in the area.
It appears that FormCap is ideally situated with their acreage in the Permian Basin. Based on modeling of a look-alike existing producing field the Anton Irish field well recoveries are expected to range from 100,000 to over 500,000 barrels of oil per well. Prospect wells are anticipated to flow at initial rates averaging 300 barrels per day, free of formation water. With 40 acre spacing in this prospect, there is room for approximately 100 wells.
Remember, FRMC Picks Up Momentum Extremely Quickly, So Don't Be Surprised To See It Trading Up From The Opening Bell and Never Slowing Down All Day!
FRMC has strong roots in the investment community and will be seen quickly by many people, trading groups, promotional companies, and regular investors, which means that the volume possibility on this one is truly unlimited.
Before we go, just keep in mind that this isn't a slow-moving symbol, and it tends to generate a traffic jam of bid/ask stack within a few short trading minutes, so please get in quickly to avoid getting cut out completely!
As always, good luck and happy investing!
http://www.pennystocksite.com/newsletters/14568-today-is-all-about-frmc-and-how-much-you-want-to-earn-with-it/
Same here.. I was just happy to get out with a profit that day. Then it spiked up to .03 by the close and a little higher the next morning. It fell back down to .01 again...
Anyone on this board actually stay in SAEI? I bought 100,000 shares at .007 and sold around .01 or so... lol
If they do this right, we will all be okay... It might not be pretty at the moment, but remember the other 2 stocks I said I was in before that traded similar to this one?
Brutal... eom
Same here... FWIW
Just a bit crazy here... lol
FWIW - This reminds me of 2 other stocks I was in and got shake'n out of to soon.
They were..
CMPCF I was in at .05 and it ran to .82 a week later.
SAEI I was in at .007 a month ago or so.. Look at it now...
We'll see how this turns out...
Just when you think they won't go any lower, they do?
I would hope so... Today's action made for some quick flips... Time for some buying pressure..
Anything above .20 here makes me very happy :)
It doesn't take much to make me happy... lol
Just imagine how elated I'll be when it's trading over .50
Gotta love the volume ;)
Agreed - A lot of volume poured in the first 30 mins today and got us to .06 - Shouldn't take much to get us over .05 again..
Appears that way. I didn't see FRMC in their disclaimer either... Now let's see if they can keep the momentum going...
FRMC - A nice double so far from Bonedaddy's alert..
Very nice ;)
Nice buying.. eom
FormCap Corp. Targets Four Historically Productive Hydrocarbon Zones in Permian Basin
FormCap Corp. Proposes Seismic Survey to Confirm Permian Basin Drill Targets
Dec 3, 2010 9:30:00 AM
RENO, NV -- (MARKET WIRE) -- 12/03/10 -- FormCap Corp. (PINKSHEETS: FRMC), an emerging oil & gas exploration company that is primarily focused on the development of its oil & gas properties in the continental United States, is pleased to announce that it plans to initiate a seismic survey to confirm drill targets at its Weber City Prospect, Curry County, New Mexico. To date, the Company has assembled 5,800 gross acres of oil and gas mineral leases within the Permian Basin at its Weber City Prospect, where it holds a 100% working interest (80% net revenue interest.) For more information on the Weber City Prospect, please see: www.formcapcorp.com
Mr. Terry R. Fields, President and CEO stated, "The Permian Basin is one of the most prolific oil and gas producing regions in the United States, and with its development history and stable, long-life, shallow decline reserves, is a strong prospect for petroleum exploration companies. The geological events that occurred along the eastern border of New Mexico and west Texas contributed to the deposition of thick, organically rich source beds and excellent reservoirs for the trapping of oil and gas, and created the major petroleum reserves of the Permian Basin. The geological structure of the Weber City Prospect is similar to that of historically productive fields, like the Anton Irish Field, and as such, could be indicative of a large hydrocarbon resource in a successful case."
The four potentially productive hydrocarbon zones that comprise the Weber City Prospect include the San Andres, Clearfork, Wolfcamp and the Cisco Formation. In Management's opinion, each of these four zones represents a viable drill target. FormCap's primary target in the four zones is the Cisco Formation of Pennsylvanian Age, a structure that has hosted extensive deposits of hydrocarbons. Detailed mapping, Landsat imagery, seismic analysis and log evaluation outlines a major, combination stratigraphic, structural trap on the Weber City Prospect, as is the case in the existing "Anton Irish" field.
The Cisco Formation is primarily marine limestone and shales, with the reservoir developed in limestone sequences. During deposition, the Pennsylvanian seas were relatively shallow and warm or tropical. At the same time in this area of the Permian Basin, an incipient basin margin started to develop. Associated with this development, structures evolved on the Pennsylvanian seafloor. Upon these structures, patch reefs began to grow. As the Pennsylvanian sea deepened, the reefs grew vertically in an attempt to stay close to the surface and most critically within the photic or sunlight zone. A major regression or withdrawal of the seas, ended reef deposition, which, by leaving the reefs exposed, led to development of excellent porosity and permeability. Several of these Pennsylvanian Reef reservoirs are giant oil traps, producing over a billion barrels of oil in the Permian Basin. The Weber City Prospect hosts a similar type of oil trap.
In Management's opinion, detailed geological information on the Weber City Prospect suggests that the possibility is present for significant hydrocarbon potential. In light of successful exploration programs conducted by others in the immediate area, which are situated in a similar geological setting, Management believes that, in a successful case, there is potential to drill up to 100 wells that could produce over 300 million barrels of oil on the Company's Weber City Prospect.
Recent drilling reports show that exploration interest in the Permian Basin from major O&G exploration companies has risen dramatically. Permit applications approved by the Texas Railroad commission show that many of the major oil companies are investing substantial capital resources in Permian Basin mineral leases, which include Anadarko, Apache, Chevron, Conoco-Phillips, Devon Energy, Kinder Morgan, and Mobil and Exxon, to list a few. In December 2009, Exxon Mobil paid $31 billion to repurchase Permian Basin assets previously sold to XTO Energy. This is a testament to the area's rich oil and gas potential, just as it begins to become more challenging to find inexpensive, US-friendly sources of petroleum.
FormCap's management team is led by President and CEO Terry R. Fields and a diverse and experienced team of consultants and advisors. FormCap has engaged, Mr. Thomas Markham, the prospect generator as Senior Consulting Geologist; and Nueva Energy Inc. headed by Norman Mackenzie as Operator. The Company plans to acquire existing production that holds additional development potential. FormCap is currently investigating several prospects that meet this profile and will report such acquisitions when appropriate.
About FormCap Corp.
FormCap Corp. a reporting issuer that is listed on the Pink Sheets under the symbol: FRMC.PK, is an emerging exploration and development company in the oil & gas sector. FormCap's mandate is to seek out highly prospective oil and gas properties for acquisition, exploration and development. FormCap's primary focus is the discovery and development of oil and gas in the continental United States. To date, the Company has assembled 5,800 gross acres of oil and gas mineral leases at its Weber City Prospect, located in Curry County, New Mexico. The Weber City Prospect has been defined by detailed geological information; well log data, seismic, Landsat and independent third party geological interpretation. There is potential to drill up to 100 wells estimated to produce over 300 million barrels of oil in a successful case.
Safe-Harbor Statement
Under the Private Securities Litigation Reform Act of 1995. This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
FormCap Contact
Investor Relations:
Mr. Larry Davis
1 250 595 7714
info@formcapcorp.com
Source: FormCap Corp.
Yep - Good volume coming in at .05
FRMC - .049 x .05 now. eom
We should be use to these type of plays by now.. LOL
EOSI - .02 X .025. eom
FRMC - .047 x .05 premarket.. eom
.047 x .05 premarket.. eom
Is there someone here on Ihub whos fulltime job is to follow you around and delete your posts? I just noticed a few posts on F-R-M_C had been deleted. lowman asking why that stock didn't show up on the breakout board list today...
DAKO - 3.00
342,999 = O/S as of Oct 13, 2010
197,500 (representing 57.6%) Held by insiders.
-------
145,499 = Float
A/S = 100,000,000
Time & Sales
3.00 1500 OBB 15:58:12
3.00 1000 OBB 12/01
3.00 500 OBB 12/01
3.00 1000 OBB 12/01
3.00 1000 OBB 12/01
Wednesday March 3, 2010, 4:15 pm EST RENO, Nev.--(BUSINESS WIRE)--FORMCAP CORP (PINKSHEETS: FRMC.PK - News) is establishing itself as a Bonded Operator in the State of New Mexico in anticipation of its first proposed well on the Weber City Prospect located in Curry County, New Mexico. FormCap holds 100% Working Interest in approximately 5,800 gross acres of oil & gas leases in the Permian Basin, all with primary terms of five (5) years. The Companys operational partner led by Calgary based Norman Mackenzie, confirms that the technical team is completing its deliberations and an initial well will be proposed shortly.
The Weber City Prospect is strategically positioned in the Permian Basin, a prolific area that has produced over 35 billion barrels of oil and 100 trillion cubic feet of gas, and is host to over 20 percent of all domestic oil and gas produced in the US. The Permian Basins development history and stable, long-life production is one of the main reasons FormCap has secured the Weber City Prospect acreage and continues to expand its holdings. FormCap plans to drill wells to test four potentially productive hydrocarbon zones; the San Andres, Clearfork, Wolfcamp and Cisco formations. Over 125 wells (based on 40 acre spacing) could be drilled on the Prospect.
As a Bonded Operator in New Mexico, FormCap will more fully control operations and production from our successful wells on the Weber City Prospect. This will minimize operational costs and maximize our profits over the long term stated Graham Douglas, FormCaps President & CEO.
About FormCap Corp.: FORMCAP is a reporting issuer with the shares traded on the Pink Sheets. FormCap holds 100% Working Interest (80% Net Revenue Interest) in the 5,800 acre Weber City Prospect located in Curry County, New Mexico.
Formcaps mandate is to seek out highly prospective oil and gas properties for acquisition, exploration and development. For more information see our website at www.formcapcorp.com or e-mail info@formcapcorp.com.
3/4/2010 9:15 AMPenny Stocks by: Bold Stocks
FORMCAP CORP (OTC: FRMC) FORMCAP CORP (OTC: FRMC) is an emerging junior in the oil and gas sector.
FormCap is a fully reporting issuer and has completed and filed its Year-End Audit and Quarterly financial information. The Company is now preparing its 15c-211 filing for listing on the Over-the-Counter Bulletin Board (OTCBB). It is anticipated that this submission will be made early in 2010.
Formcap Major Prospect * The Weber City Prospect is located in Curry County, New Mexico.
FormCap holds 100% Working Interest (80% Net Revenue Interest) in the 4,900 acre Weber City Prospect located in Curry County, New Mexico, and the oil rich Permian Basin. With 40 acre spacing in this area, the project is estimated to produce over 220 million barrels of oil in a successful case.
Project wells are anticipated to flow at initial rates averaging 300 barrels per day, free of formation water.
Curry County New Mexico 100% Working Interest Five Year Lease FormCap holds 100% Working Interest (80% Net Revenue Interest) in the 4,900 acre Weber City Prospect located in Curry County, New Mexico. These leases have been assigned and are duly recorded with initial 5 year terms.
All leases were initiated in June of 2009 and all leases have been duly recorded in the State of New Mexico.
Prospect Located in Rich Permian Basin The Weber City Prospect is located in Curry County, New Mexico which lies on the eastern most side of New Mexico bordering the state of Texas.
Geologically, this Prospect in on the northern flank of the prolific Permian Basin and focuses on the Cisco Formation of Pennsylvanian Age.
Initial 7,000 Foot Test Well While the primary objective is the oil rich Cisco Formation, the Company plans to drill an initial 7,000 foot well to test four potentially productive hydrocarbon zones * The San Andres * Clearfork * Wolfcamp * The Primary Objective: The Cisco Formation Secondary Objectives The Prospects multiple secondary objectives are all oil and are primary producing zones in the Permain Basin of New Mexico and Texas. Based on modeling of a look alike existing producing field, the Anton Irish Field, well recoveries are expected to range from 100,000 to over 500,000 barrels of oil per well.
Promising Potential With 40 acre spacing in this area, the project is estimated to produce over 220 million barrels of oil in a successful case. Project wells are anticipated to flow at initial rates averaging 300 barrels per day, free of formation water.
As New Mexico Operator FormCap Improve Prospects Economics FormCap is an Operator in the State of New Mexico which provides the Company with complete control over operations on wells developed on its prospects. The Company plans to drill early in 2010 and establish FormCap as an Operator. This will eliminate the need for Third Party contracting of these services which is anticipated to improve the over-all economics of prospects developed in New Mexico.
Weber City Prospect Geological Potential In order to better understand how the Prospect developed geologically, the following provides a brief description of the formation of the Pennsylvanian Reef reservoirs.
The Cisco Formation is primarily marine limestone and shales, with the reservoir developed in limestone sequences. During deposition, the Pennsylvanian seas were relatively shallow and warm or tropical. At the same time in this area of the Permian Basin, an incipient basin margin started to develop. Associated with this development, structures evolved on the Pennsylvanian seafloor.
Upon these structures, patch reefs began to grow. As the Pennsylvanian sea deepened, the reefs grew vertically in an attempt to stay close to the surface and most critically within the photic or sunlight zone. A major regression or withdrawal of the seas, ended reef deposition. But leaving the reefs exposed led to excellent porosity and permeability development.
Several of these Pennsylvanian Reef reservoirs are giant oil traps, producing over a billion barrels of oil in the Permian Basin. The Weber City Prospect focuses on the same type of oil trap.
Detailed mapping, landsat imagery, seismic analysis and log evaluation outlines a major, combination stratigraphic, structural trap on the Prospect; the existing Anton Irish Field. Structural analysis of the Permian Basin over a 20 year period integrate with landsat analysis by a renowned structural geologist outlines a probable compression structure or pop bloc. South of the structure, Gulf Oil tested significant oil from the Cisco Formation. A shallow well drilled and completed in 1947 as a 1,600 oil producer is located at the crest of the Weber City pop bloc. Finally, a well off of the northern flank of the Prospect, drilled into over 1,200 of basinal shale and defines the northern limits. As in Anton Irish and Pennsylvanian Reef Fields in the Permian Basin (Kelly-Snyder), individual leases can produce over a million barrels of oil.
Permian Basin Acquisiton Formcap acquired a strategically positioned acreage located in the Permian Basin, a prolific area that has produced over 35 billion barrels of oil and 100 trillion cubic feet of gas, and is host to over 20 percent of all domestic oil and gas produced in the US.
Recent Acquisition and Activity Recently, Exxon Mobil bought XTO Energy for $31 billion. This acquisition was the largest U.S. energy takeover since Houston-based Conoco-Phillips acquired Burlington Resources. Exxons acquisition of XTO Energy in December 2009 was largely in part for XTOs significant Permian Basin assets. Recent merger and acquisition activity in the Permian Basin highlights the growing importance of this historically prolific, domestic source of energy. Shortly after Exxons takeover of XTO, a Bloomberg article on December 14th, 2009, reported that the Exxon acquisition may have signaled a wave of new acquisitions referencing Occidental Petroleums purchase of Plains Exploration & Productions interest in the Permian Basin of West Texas and New Mexico, as well as their Piceance Basin assets of Colorado for $1.25 billion. Likewise, SandRidge Energy recently acquired Forest Oils Permian Basin assets for $800 million. The Permian Basins development history and stable, long-life production is one of the main reasons FormCap has secured the Weber City Prospect acreage.
FormCap Management FormCaps current management team is led by Graham Douglas. Consultants and Advisors have been engaged on a contract basis as required to minimize expenditures during this start-up phase. Many of these individuals will join the team in a more formal manner as Directors and Officers of FormCap, once funding is secured.
Graham Douglas, President Graham Douglas is an experienced business executive with 35 years of financial and operational management. After graduating in 1970 with a Bachelor of Commerce Honors degree, Mr. Douglas was employed by two large Canadian banks in the area of corporate finance.
From 1978 through 1985, Mr. Douglas was involved in the commercial/industrial real estate development and construction industry in a financial capacity, progressing to be the President of the Company.
In the period 1986 through 1992, Mr. Douglas was the Chief Operating Officer of a large west coast Canadian transportation, warehousing, freight forwarding and sea terminal operator. In this capacity, he oversaw the restructuring of the companys operations and the eventual sale of the various operating entities.
Beginning in 1992, Mr. Douglas has been active as a business consultant in the area of corporate restructurings, mergers and acquisitions, corporate finance and public offerings. Mr. Douglas has been an early stage investor and assisted in raising later stage funding for several companies in a variety of industries. Industries include the following: beverage, food processing, clothing, tourism, real estate, construction, telecommunications, hightec, mining and exploration, heavy equipment auction, oil and gas exploration and biofuels. In several instances, Mr.
Douglas has taken temporary positions in management and governance through transitional periods or in difficult circumstances. Mr. Douglas is a resident of Mexico and works throughout North America and the international markets.
Advisors & Consultants Thomas Markham, Chief Geologist Mr. Thomas Markham will serve as a consulting Senior Geologist. He is a professional geologist specializing in evaluation and development of oil and gas plays in the mid-continental US, since receiving his Masters of Geology from LSU in 1976. He began his career working with BEPCO, ARCO and then TENNECO, acting as geologist on a wide range of projects spanning over 12 years of development on leading plays including the Pinon, Allen Hill, Brunson Ranch, J.D. Shale, Brown Bassett Extension and NYY projects. During this period, he directed 15 graduate-level geologists and managed annual exploration budgets up of to $21 million.
He has recently acted as Chief Geologist in charge of the supervision and generation of a 21,000 acre Pennsylvanian gas play in the Permian Basin. In Oklahoma, Mr. Markham was instrumental in play development and directed negotiations with the Osage Tribe of Oklahoma for drilling rights on 57-quarter sections (9,120 acres). He has been an independent oil and gas geologist managing project generation and evaluation for various industry and non-industry groups primarily in the Mid Continent.
Mr. Markham has successfully drilled and completed proprietary prospects (while providing the supervision of seismic, leasing, drilling, completion, and production activities) of 88 oil and gas wells (to 10,500) in Texas, New Mexico, and Oklahoma. He was the generating geologist of a 5 TCFG overthrust play in Central Texas, he finalized a New Mexico San Andres stratigraphic play (50 to 100 MMBO at 4,000) and a Permian Basin Devonian structural play. He has managed the screening and evaluation of Springer Atoka sub-basin prospects of the Anadarko Basin (3-D).
Mr. Marham has been published in the American Gas Journal and he has been invited on a technical tour of the former Soviet Union to review oil and gas assets. He was also guest speaker at the American Association of Petroleum Landmans (AAPL) Buying Oil and Gas Properties seminar.
Randall K. Boatright Most recently Mr. Boatright served as Interim President and CEO, CFO and Director of Dexterity Surgical, Inc. He has extensive experience in the energy business as he was formerly EVP, CFO and Director of Abraxas Petroleum Corporation (AMEX:ABP) and Controller of a large private independent oil and gas company. Prior to that, Mr. Boatright practiced accounting with the firm of Coopers & Lybrand LLP. He is a CPA and a graduate of the College of William & Mary in Virginia.
MAC Advisory Services MAC Advisors, a mini-microcap advisory service with oil and gas expertise.
MAC principals have over 50 years direct experience in related areas of: Oil and Gas finance, accounting and capital equipment; Corporate Finance and Merchant Banking; and Management of both public and private developmental stage companies. They have work experience that includes work at Gearhart/Haliburton, as well as corporate finance experience with Dorchester Oil and Gas (both Fortune 500 Companies). Their resumes include work experience in the area of corporate finance and as a financial analyst concentrating on exploration, crude oil purchasing and related special projects. They have also worked as independent landman in West Texas and hold royalty and working interests in several producing oil and gas properties. Through the relationship with MAC, Formcap will have full access to valuable industry experience and contacts.
Norman Mackenzie Consulting and Option Agreement Formcap entered into a Consulting and Option Agreement with Mr. Norman Mackenzie of Calgary, Alberta, Canada, to develop and execute the drilling and development plan for the Weber City Prospect. The Weber City Prospect consists of approximately 4,800 acres with room for 100+ well locations, strategically positioned in the Permian Basin, a prolific area that has produced over 35 billion barrels of oil and 100 trillion cubic feet of gas, and is host to over 20 percent of all domestic oil and gas produced in the US.
Mr. Mackenzie has over thirty years experience in the domestic and international energy industry with companies that have developed significant energy projects in the North Sea (UK and Norway), China, Abu Dhabi, Dubai, Egypt, Bangladesh and Libya.
He is Chairman and Founder of C & C Energy Canada Ltd., which is engaged in oil and gas exploration in Colombia, South America; these assets are currently capable of producing over 5,000 BOPD.
Companies that Mr. Mackenzie has been associated with have been at the leading edge of technology in all sectors of the oil & gas business. In 1992, Scimitar Hydrocarbons, a public company founded by Mr. Mackenzie, was merged with Rally Energy Corp., which was subsequently sold for over $900 million in 2003. Mr. Mackenzie and his team will develop a strategic development plan that will include the scope of seismic surveys, the delineation of multiple drill targets and access to capital to assist in the ultimate exploitation of FormCaps leases.
Mr. Mackenzie and his team bring an extremely high level of expertise to FormCaps exploration and development plan for Weber City Prospect.
The fact that he negotiated for rights to financially participate in the development of this Prospect further supports our contention that it is a high quality opportunity stated Graham Douglas, FormCaps President A professional geologist specializing in the evaluation and development of oil and gas plays in the onshore United States, Tom received his Masters of Geology from LSU in 1976 and then pursued a career working with ARCO, BEPCO, HOUSTON OIL and MINERALS, and TENNECO.
Formcap Corp.
50 W. Liberty St.
Suite 880 Reno, NV 89501 Website: www.formcapcorp.com Phone: (888) 777-8777.