FormCap Corp (FRMC)

[dj4321]

Yes we do, here's what I have on FRMC

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FormCap Corporation (OTCBB - PK: FRMC), an emerging junior in the oil and gas sector, 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. Following a recent announcement of the acquisition of a new land position within the Company’s Weber City Prospect (Feb 08, 2010), FormCap Corp now owns 5,800 acres in the renowned Permian Basin where it plans to continue to make on-going acquisitions of new oil and gas leases. Notably, FormCap Corp’s Weber City Prospect in the Permian Basin features four, separate well-established hydrocarbon objectives. See: www.formcapcorp.com


FormCap enters into operations and farm-in agreement: With the intent to rapidly advance its exploration program, FormCap Corp recently announced on February 5th, 2010, that it 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 Company’s Weber City Prospect. Chairman and Founder of C & C Energy Canada Ltd., Mr. Mackenzie has over thirty years experience in the energy industry, and currently manages assets capable of producing over 5,000 BOPD. 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.


FormCap’s Weber City Prospect is estimated to contain potentially over 220 million barrels of oil. Prospect wells are anticipated to flow at initial rates averaging 300 barrels per day, free of formation water. Based on a 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. With 40 acre spacing in this prospect, there is room for approximately 100 wells.


The smart money is investing in the Permian basin – Oilmen will tell you that mother nature did everything right to create the major petroleum reserves of the Permian Basin. Events that transpired millions of years ago contributed to the deposition of thick, organically rich source beds and excellent reservoirs for the trapping of oil and gas in the Permian Basin. This is why FormCap is here. This is why Exxon Mobil wants back in.