Fellows Energy (fka FLWE)

[AllyAustin]

I love your enthusiasm! I'm not quite so positive as you but I am happy to see it rising so far and I totally hope you're right! At one point this past Friday it was up 2000% over Wednesday's close (.001 to .02) before retracing slightly and closing at .011, still a 1100% gain!

The reason for the current rise in pps is detailed in two pr's from last Wednesday; one for FLWE, the other for CPRK - I've posted both below:


Fellows Energy Signs Agreement to Finance Geothermal Projects

Jan 14, 2009 17:28:00 (ET)

BROOMFIELD, Colo., Jan 14, 2009 (BUSINESS WIRE) -- Fellows Energy Ltd. (FLWE, Trade ) ("Fellows"), further to its press release of November 25, 2008, is pleased to announce that it has entered into an agreement with Copper King Mining Corporation (CPRK.PK) ("Copper King") to finance the Valle del Cura and Tuzgle-Tocomar advanced geothermal projects in the Andes Region of Argentina, recently acquired from Geothermia Andina, SA, a private Argentine entity. The agreement also calls for the financing of two additional projects now being negotiated by Fellows in connection with its acquisition of Grupo Minero Aconcagua SA (GMA), a private Argentine company in advanced stages of negotiation to acquire rights to geothermal and wind energy projects in central and southern Argentina.

The agreement provides for the acquisition from Fellows of a 50% interest in the projects by providing or arranging for financing for the first three years of feasibility and development expenditures and project payments. Copper King has stated that it plans to provide or arrange the funding through a combination of third party investors and from the cash flow expected to be generated from the operation of its copper-gold-silver-magnetite mill now in the final stages of construction and start-up near Milford, Utah.

The Valle Del Cura and the Tuzgle-Tocomar projects are each entering the pre-feasibility stage and host an estimated combined 300 MW of electric power generating potential. Fellows has targeted a third project in Argentina which has been the subject of a feasibility study covering the first 30 MW of an estimated 100 MW of generating potential. The three projects combined would host an estimated 400 MW of potential. The Company is also working toward the completion of its acquisition of GMA, which will bring additional geothermal and wind energy projects to the Company's mix.

It is expected that the financing being arranged by Copper King will substantially move the projects through the feasibility stage and potentially place them into a position to obtain bank or other project financing. In addition, it will allow Fellows time to strengthen its balance sheet and restructure its capital, while minimizing the need for ongoing working capital funding. The Company has already commenced the technical analyses and evaluations to begin to move forward with the projects.

In spite of the current conditions in the financial markets in general, the Company believes that a number of financial incentives and an emerging, favorable market and attractive financing terms for geothermal, wind and other alternative energy projects will provide a solid basis to move forward. In addition to the revenue associated with generating power, it is also expected that the projects will qualify for carbon bonds and national premiums that will further enhance the cash flow potential of the projects. Although the Company is now actively refocusing its efforts to take advantage of the alternative energy segment of the industry, it also continues in its efforts to obtain joint venture financing on its oil and gas exploration projects in the western United States.

"The signing of an agreement for a financial commitment for these projects and the opportunity to collaborate with Copper King, a company just now entering into significant cash flow from its production, will help to bring the Company to a new level and allow us to build substantial value," said Fellows CEO, George Young. "We look forward with enthusiasm to working with Copper King and advancing rapidly with the feasibility and development of the projects and acquiring the additional projects now under negotiation."

About Fellows Energy

Fellows is an early stage oil and gas company with emphasis in the Rocky Mountain Region using traditional and new technologies, and is also now focused on acquisitions in the alternative energy market. For additional information please go to www.fellowsenergy.com .

Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission ("SEC") permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this press release, such as probable, possible and potential, that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-KSB, File No. 0-33321, available from us at 370 Interlocken Boulevard, Suite 400, Broomfield, Colorado 80021. You can also obtain this form from the SEC by calling 1-800-SEC-0330.

Examples of such disclosures would be statements regarding "probable," "possible," or "recoverable" reserves among others.

Management hopes these transactions will bring additional value to the shareholders of Fellows Energy. There is no guarantee that the projects that Fellows has recently acquired will increase the value of its shares of common stock, or that Fellows will acquire rights to explore and operate any other such projects, or that in the event that it acquires rights to explore and operate other such projects, that these actions will be successful or increase the value of Fellows' common stock.

This press release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. There are many factors that could cause our expectations and beliefs about our plans to acquire additional exploration or production properties, our plans to drill or our drilling results to fail to materialize: competition for new acquisitions; availability of capital; unfavorable geologic conditions; the complexity of coal bed methane exploration and production; and prevailing prices for natural gas and general regional economic conditions. Fellows assumes no obligation to update the information contained in this press release.

SOURCE: Fellows Energy Ltd.


Fellows Energy Ltd.
George S. Young, 303-926-4415
or
Investor & Public Relations
Charles A. Moskowitz, 781-826-8882
[e-mail]

http://www.tradingmarkets.com/.site/news/Stock%20News/2126647/


Copper King Signs Agreement to Finance Geothermal Projects
Wednesday January 14, 7:00 am ET

MILFORD, Utah--(BUSINESS WIRE)--Copper King Mining Corporation (Pink Sheets:CPRK), an ore mining, processing, and exploration company located in Southern Utah, today announced that it has entered into an agreement with Fellows Energy Ltd (Fellows) to finance the Valle del Cura and Tuzgle-Tocomar advanced geothermal projects in the Andes Region of Argentina, recently acquired from Geothermia Andina, SA, a private Argentine entity.
The agreement also calls for the financing of two additional projects now being negotiated by Fellows in connection with its acquisition of Grupo Minero Aconcagua SA (GMA), a private Argentine company in advanced stages of negotiation to acquire rights to geothermal and wind energy projects in central and southern Argentina.

The agreement provides for the Copper King’s acquisition from Fellows of a 50% interest in the projects by providing or arranging for financing for the first three years of feasibility and development expenditures and payments on the projects. Copper King plans to provide or arrange the funding through a combination of third party investors and from the cash flow expected to be generated from its copper-gold-silver-magnetite mill operations, now in the final stages of construction and start-up near Milford, Utah.

The Valle Del Cura and the Tuzgle-Tocomar projects are each entering the pre-feasibility stage and host an estimated combined 300 MW of electric power generating potential. Fellows has targeted a third project in Argentina, which has been the subject of a feasibility study, covering the first 30 MW of an estimated 100 MW of generating potential. The three projects combined would host an estimated 400 MW of potential. The company is also working toward the completion of its acquisition of GMA, which will bring additional geothermal and wind energy projects to the company.

It is expected that the financing being arranged by Copper King will substantially move the projects through the feasibility stage and potentially place them into a position to obtain bank or other project financing. Copper King and GMA have already commenced the technical analyses and evaluations to begin to move forward with the projects. It is expected that the energy produced from the projects will easily be sold to nearby commercial facilities and otherwise in the national power grid of Argentina, which is currently experiencing shortages. In addition, there are significant incentives offered by the Argentine government, as well as “carbon bonds,” which provide additional benefits for developing the projects. Copper King expects that the expenditures necessary to move the projects forward, relative to the value created by doing so, are minimal, and that the return on the invested funds will be substantial.

“Participating in projects with tremendous potential to build value from our cash flow presents a great opportunity to further build shareholder value,” said Mark Dotson, Copper King’s CEO. “We have structured our transaction to coordinate well with our projected cash flow position, and anticipate being able to leverage the investment to good advantage for our shareholders.”

http://biz.yahoo.com/bw/090114/20090114005431.html?.v=1