1st NRG Corp (FNRC)

[cropduster08]

Did a little more research today and my guess is that FNRC is partnered with Magnum Hunter Resources. I say this because on FNRC's website they use graphics from MHR to talk about what is going on in the Utica Shale. Maybe it is just a coincidence or it could mean that MHR is FNRC's partner. Take a good look at MHR's website and their latest investor presentation. All very interesting and lots of good information about drilling in the Utica.

MHR is currently drilling 3 wells in the Utica that are supposed to to go into production by the end of this year. Could one of them be the one FNRC is waiting on? I don't know, but it certainly looks like it could be possible. And even if it isn't, you should check out MHR's website and investor presentation for a good overview of what is going on in the Utica.

If what MHR is doing is any indicator, I would say FNRC has a good shot at bringing in a well, or wells, and eventually getting the 20% working interest in their agreement. I also noticed that MHR only has a 50% interest on the 3 wells that are supposed to go into production by the end of the year, so there must be another investor out there also.

Anyway, I wouldn't hold my breath that we will necessarily hear anything this month, but I would definitely expect something by the end of the year. I may buy some more shares at $.56 if I can find somebody willing to sell.

Good luck,

Cropduster