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Another price opportunity.
Nice gamer profits, while the long term plays out.
It's a global investment world.
Another opportunity for day trades.
The OTC BB application process, and associated maintenance, is a time consuming hassle, but understand why it needs to be done.
Well, they'll be pushing for funds to drill, which the new guy should be able to help them with.
We need a timetable, but their new guy will obviously have a lot of say in it all.
The market is spooked. The only advantage is that oil and gas can sometimes buck the market.
Futures up.
Unable to reach them.
Continuous updates are the right thing.
What was the reason?
Had they just been working on this earlier, and it just came through?
Wouldn't expect much
from the market this month.
Potential is an easy word to throw around
though it's true that there has been more interest and action (volume) in the past two months than at any time in the stock's history.
Oil is a risk.
As good an area as the Permian Basin is, there's no such thing as a guarantee. They have to produce to make their holdings the hot commodity that they want.
There's no turning back now.
It's all speculation until something comes out of the ground.
Well, they are obviously not the only ones:
Chevron, Conoco-Phillips, and Mobil, are all there.
One of the keys to the popularity and potential of this area is that it does represent one of the increasingly few US-friendly sources of petroleum. The resources, and the jobs, stay in the U.S.
I suspect every time they come out with some news on progress, there will be a jump.
We'll see what this guy is made of.
Here's hoping that they provide regular updates, at least weekly, as they step through the setup and drilling process.
This is exactly what is needed at this point:
FRMC has 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 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”
New High!
Okay, an estimate of 220 million barrels of oil should attract the necessary capital over the 5-year term, but what they need now is a realistic timetable and regular communication to the investment community.
Old news, but the important point is their plan to drill an initial 7,000 foot well to test four potentially productive hydrocarbon zones; the San Andres, Clearfork, Wolfcamp and Cisco formations, and estimate that approximately 100 wells (based on 40 acre spacing) could be drilled on the prospect.
Best jump in over a week, and far more significant volume.
The Weber City Prospect has been defined by detailed geological information including well log data, seismic, Landsat and independent third party geological interpretation.
Even quieter on the floor. Looking for volume to pick up.
According to the company, the initial well will be drilled to a total depth of 6,500' to test four potential productive hydrocarbon zones; the San Andres, Clearfork, Wolfcamp and, the primary objective, the Cisco Formation.
They have 5-year leases, providing enough time to prove something.
This takes a lot of up-front cash, which I'm sure is what they are working on right now.
I'm inclined to agree, but would certainly like to have a better handle on the time involved.
Nothing really matters until they get a strike.
If you do the calculations of a 10% play multiplied several times, you'll see the possibilities.
Okay. It's .38 again. It's been bouncing between .38 and .45 for nearly the past month. That's a healthy 10% play.
The fact that the big money is already there has an additional benefit. A big player, that has already done their research and is comfortable with what they've found, is that much more likely to consider an eventual bid for the FormCap holdings.